A start-up hopes to set a new standard for both virtual and face-to-face care.
ExamMed has announced the launch of a new offering that it hopes will set a new standard for both virtual and in-office care at the Health IT Summit held in San Diego. The platform is a one-touch technology to fill the void which includes scheduling and billing, particularly for telehealth services, that creates flexibility in payment options for services that are not currently reimbursed.
“New regulations including the Affordable Care Act have put a tremendous strain on many providers that are spread too thin managing an influx of patients, complying with stringent government standards and trying to establish new payment models that benefit both patient and provider,” Jeremy Trabucco, co-founder of ExamMed, explained in the release. “We developed ExamMed to equip providers with … the core components they need to succeed and deliver the most personal, high-quality and affordable connected care in one simple and streamlined platform.”
Among ExamMed's core features are HIPPA Compliant HD video capabilities, a centralized management portal, interoperable EMR/EHR exchange, a provider network and referrals database, and smart coding capabilities. Perhaps the most innovative feature of the new platform is MedCoins, a feature that functions as a universal healthcare currency, allowing patients to purchase “coins” in advance for proactive payment. Similar to Bitcoins, MedCoins can be used to cover insurance deductibles or out-of pocket expenses associated with patient encounters. In addition, Coins (or credits) can be shared or accumulated through individuals or family purchase, gifting or clinic advances.
Med City News reports co-founder Faraz Zubairi as saying the MedCoin was developed “as a way to change how we think of concierge services in healthcare, the value of those services, and to make it easier to provide bundled solutions for families.” Assigned a base value of approximately $5, the Bitcoin is the basis of currency for payment, though each provider sets the number of MedCoins required for each service.
“Cash is one of those things that can be enumerated in a lot of different ways,” Zubairi said. “The goal here is on a transactional level to provide an easier way to bundle payments.”
“Healthcare IT is a booming market, but until now, providers have not had access to one holistic solution,” Dr. Seth Eaton, founder at MD-based MedPeds, explained in the release. “ExamMed's technology has tremendous potential for improving how providers facilitate care as well as how patients experience care. This universal healthcare technology platform will be especially transformative for treating Medicare and chronic care patients, and we have plans to leverage ExamMed as the primary platform for patients who require non-office visits.”
“A technology platform that can reach any patient – of any age, anywhere, via any device – will dramatically improve care for patients across the country,” Eaton says.
ExamMed has already been successfully implemented in practices across the U.S. including MD-based MedPeds, and the pioneering all Nurse Practitioner led PA-based River Practice.