When companies are disrupting the status quo, it is because something is broken. There is a better way to do something and/or consumer demand has risen to the point that something has to be done.
Disruptive innovation is a term in the field of business administration which refers to an innovation that creates a new market and value network and eventually disrupts an existing market and value network, displacing established market leading firms, products, and alliances.
MyMedicalShopper tackles the brokenness that exists in a notoriously thorny industry: healthcare. Due to a labyrinthine “insurance” system, American consumers and citizens are constantly getting the short end of the stick. And one of the main reasons why healthcare almost always ends up being prohibitively expensive, especially for those classified as having “pre-existing conditions,” is the total lack of transparency into the system and into ways costs can be controlled.
MyMedicalShopper is changing that. The company enables true comparison shopping for medical procedures by shining a light on the secretive world of healthcare pricing. A tool which compares actual post-procedure, out-of-pocket expenses for non-emergency services between care providers gives a consumer the ability to make decisions based on their own criteria. It’s simply a matter of entering the procedure in a database, and being able to instantly see the provider that would save them the most money.
Co-founder and CEO Mark Galvin created the company on this need for transparency—the leverage needed for consumers to make informed decisions about their healthcare and improve their quality of life. “Patients could unknowingly pay five to ten times more than needed, simply because they don’t have the ability to shop. We estimate that our users saved over 32% on their out-of-pocket medical expenses last year when MyMedicalShopper was provided through their employer-provided insurance,” Galvin has said.
MMS Analytics, Inc. dba MyMedicalShopperTM is a big data company with big dreams for healthcare. Co-founder and CEO Mark Galvin gave rise to the company out of the need to provide consumers and companies who provide healthcare benefits to their employees with transparency—the leverage needed to make informed decisions on their healthcare and improve their quality of life. Consumers previously unfamiliar with price variations in medical procedures and testing utilize real-time health insurance plan pricing information that makes it possible to choose care based on price, quality, and convenience. Experts document that as much as $1 trillion could be slashed annually from the cost of healthcare in the U.S. The company’s goal is to transform the healthcare industry into a fair market for consumers. For more information visit www.mymedicalshopper.com
- “Disruptive Innovation.” Wikipedia, Wikimedia Foundation, 28 Mar. 2018, en.wikipedia.org/wiki/Disruptive_innovation.
- “Buffett: Health Care Is a Tapeworm on the Economic System.” CNBC, CNBC, 26 Feb. 2018, www.cnbc.com/video/2018/02/26/buffett-health-care-is-a-tapeworm-on-the-economic-system.html.
- Lemer, Keith. “The Hidden Reasons Your Health-Care Costs Are Skyrocketing.” CNBC, CNBC, 22 Mar. 2018, www.cnbc.com/2018/03/22/hidden-reasons-your-health-care-costs-are-skyrocketing.html.
- Ubel, Peter. “Bait And Switch: The Sneaky Way Your Employer Just Passed Healthcare Costs Onto You.” Forbes, Forbes Magazine, 1 Mar. 2018, www.forbes.com/sites/peterubel/2018/02/28/bait-and-switch-the-sneaky-way-your-employer-just-passed-healthcare-costs-onto-you/#7b6b4307fbed.