MDsave Secures a New United States Patent

For Pharmaceutical Applications with Machine Learning of Prices for Procedures

News provided by

MDsave

Mar 10, 2022, 11:00 ET

NASHVILLE, Tenn., March 10, 2022 /PRNewswire-PRWeb/ -- MDsave, the nation's leading online purchasing platform for healthcare procedures, secures a new United States Patent for Pharmaceutical Applications with Machine Learning for Medical Procedure Pricing. The MDsave software creates pricing by leveraging machine learning techniques based on healthcare service and medical condition parameters as well as user preferences. In aggregate, the tool offers broader bundling of services allowing MDsave to continue paving the way for greater transparency and affordability relative to medical procedures and now including prescription drug offerings.

"These patents validate that MDsave invented healthcare service bundled pricing," says Paul Ketchel, chief executive officer of MDsave. "Combining pharmaceuticals with healthcare procedures reduces the anxiety for patients about the full cost of the procedure prior to the event. This technology makes purchasing healthcare more like the purchase of any other consumer service."

The MDsave platform offers upfront, transparent pricing on 1,660+ procedures that are easily shoppable and instantly accessible to patients and employers. With bundled pricing consumers are able to better plan for needed healthcare services. With the rising cost of healthcare and higher deductibles, cost is likely to continue to drive an individual's healthcare decision-making process.

The technology around this patent includes an application server providing a pricing tool, a service pricing information database, and a cost adjustment information database accessible by the application server. The machine learning server instructs the service offer database to store each healthcare provider's services corresponding to the user selection and displays the bundled set of service offers via the graphical user interface matching the users' selection.

For more information, please see additional information about the patent here: Issued U.S. Patent 10,991,020

About MDSave
Headquartered in Nashville, TN, MDsave is the nation's leading online purchasing platform for healthcare services — bringing together patients seeking affordable, reliable care with providers offering high-quality services at fair prices. Through innovative technology, MDsave simplifies the healthcare billing process for patients and providers alike through transparent bundled pricing and upfront payment. MDsave's patented technology also supports employers and payers to deliver more value to employees and policyholders minimizing out-of-pocket deductible costs. For more information, visit http://www.mdsave.com.

Media Contact

Lauren Tilelli, MDsave, +1 (858)414-4117, [email protected]

SOURCE MDsave