Word: healthmarket
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Several start-ups, from Lumenos and Vivius to HealthMarket, HealthAllies and MyHealthBank, are busy making that argument to employers. Major California insurer Wellpoint recently rolled out its defined-contribution option to small businesses, half of which don't provide health insurance at all, and Aetna just launched its plan, dubbed HealthFund. Though only about 5% of U.S. businesses, including Medtronic, Novartis and Textron, are testing some sort of defined-contribution health plan, more than 20% think it's likely they will offer one in the next five years, according to the Kaiser Family Foundation...
...most onerous restrictions of managed care--from pre-certifications and referrals to utilization review--are eliminated, the new plans hope to attract much bigger networks of physicians. Definity Health, for instance, has signed up renowned, choosy providers like the Mayo Clinic and Cleveland Clinic. Innovators such as HealthMarket, Definity and Vivius plan to let individual physicians set their own discounted rates rather than establish one flat, across-the-board price. The idea is that consumers, armed with a wealth of data on the Net, could then comparison shop...
...Eventually, the better doctors will get paid more," says Steve Wiggins, founder of Oxford Health Plans and now CEO of HealthMarket. Wiggins also wants to offer set rates for entire episodes of care--like heart bypass surgery--because you'd hardly be in a position to shop around if you needed one done in a hurry...
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