Contributed by: Show Editorial Team
Jessica Cruz, Founding Member at Med-Rok Systems Inc. pitches AdmitScan at Converge2Xcelerate Conference (Boston, MA)
- 55 million Americans are affected by unexpected medical bills
- AdmitScan provides real-time notification to insurers and hospitals of patient status
- AdmitScan has letters of intent from 2 hospitals and are targeting more in the California region
INTERVIEW TRANSCRIPTS: Jessica Cruz, Founding Member of Med-Rok Systems Inc.
Jessica Cruz – Founding Member, Med-Rok: 00:00
Surprise billing affects 55 million Americans. That’s one in six people. Next slide, please. Defaults on these unexpected bills or the number one cause of consumer bankruptcy in the United States. Next slide please. So what is surprise billing? Surprise billing is when healthcare consumers unknowingly use healthcare services that are not in network or covered by their insurance, and then they were billed hundreds of thousands of dollars for using these out of network services. Next slide. Why does this happen? Simply because the industry still uses insurance cards that provide no real time value while still requiring hospitals and physicians to make manual phone calls and faxing to the insurer to obtain confirmation of network coverage. A tedious process that can take between two and four business days to complete. Surprise billing has become such a hot button topic that the US government has created a committee to come up with the solution. Unfortunately their proposed legislation to completely exempt the consumer from surprise billing will actually cause hospitals and physicians to lose money driving up their costs in turn, driving up the cost of insurance premiums and ironically driving up the cost for every consumer.
Jessica Cruz – Founding Member, Med-Rok: 01:15
So I’d like to use an analogy. Let’s say for example the fitness industry operated like the healthcare industry. Say you go to the gym, you hand them a non-scalable membership card and they tell you, you can work out here, but it may take us between two and four days to find out if our gym is in your network. After three days of working out, the gym comes back and tells you, sorry, you are not a member at this gym and we charge non-members $3,000 a day to work out handing you a $9,000 bill. This is how the healthcare industry operates. Surprise. So, in this analogy is our simple solution to a so-called complex and costly problem. Next slide please. My name is Jessica Cruz and I’m a part of the founding team at Med-Rok systems inc. who has created AdmitScan. My partner, Rachel Phillips is the founder of Med-Rok systems and a registered nurse with over 30 years of industry experience.
Jessica Cruz – Founding Member, Med-Rok: 02:13
Great. AdmitScan is a patent pending P a QR code system that is interfaced with the insurer that when scanned in any hospital admitting department or emergency room immediately reveals network status of a patient. In addition, it also notifies the payer of the patients. Sorry. In addition, it also notifies the payer and the patient’s primary care physician of ER visits and hospital admissions in real time improving outcomes and allowing for telehealth patient referrals. Another valuable function of AdmitScan is automated repatriation, which is the process of returning out of network patients back to their in-network hospital and physicians admit scan connects in and out of network hospitals allowing for patients to be transferred back to an in network hospital within 30 minutes versus two days.
Jessica Cruz – Founding Member, Med-Rok: 03:11
The opportunity for AdmitScan to impact the healthcare industry lies in the 294 million Americans who are insured in the United States. Our initial targets are the insurance companies who insure the 37.3 million Californians and the California hospitals who admit 3.4 million patients annually. Admit Scan costs insurance companies, $1 per month per member for a family of four people insurance companies can, for a family of four people, it costs insurance companies only $48 a year to protect them from surprise billing. Hospitals will be charged $2.50 cents per scan, protecting them from millions of out of network default per year while decreasing workforce requirements.
Jessica Cruz – Founding Member, Med-Rok: 04:05
We currently have a letter of intent from Alta Corp who has 20 hospitals nationwide and actually five in Southern California that we’re targeting. And we have a letter of intent from Martin Luther King hospital in Los Angeles. Our competition, which includes e-Census, passport, Epic, Allscripts and Cerner do not actually provide an admissions process that protects patients or hospitals against out of network health care charges. Med-Rok’s AdmitScan team consists of healthcare and healthcare IT professionals. With more than 30 years of diverse healthcare experience, we’re asking $200,000 to put together a four-month pilot with Alta core and the LA care insured affordable, intelligent technology, affordable, intelligent healthcare. Thank you.
PR and Media by: CommPro Worldwide
All rights reserved to the Traders Network Show. No part of this publication may be reproduced, distributed, or transmitted in any form or by any mean including; photocopying, recording, or other electronic or mechanical methods, without prior written permission of the publisher, except in the case of brief quotations embodied in critical reviews and certain other noncommercial uses permitted by copyright law. For permission requests, write to the publisher addressed “Attention: Permissions Coordinator”