Consumerism is disrupting several industry verticals, including travel, e-commerce, and transportation. Better consumer experience and value have proven to translate to success for companies!
However, one sector that lags behind in its approach to consumerism is US healthcare – not surprising, given that it is one of the largest and most regulated industries in the country. Healthcare’s inherent complexity – whether it is understanding coverage & benefits, cost of healthcare, accessing your records, or sharing records- poses extraordinary challenges for most individuals and their families, leaving them disengaged and disempowered in their healthcare.
Even as healthcare organizations make efforts to better engage consumers, privacy issues and interoperability emerge as major roadblocks. Further, CMS mandates on patient access and price transparency, while much needed – pose an additional strain on these organizations to ensure data sharing occurs with documented consumers’ consent. This two-side challenge faced by both consumers and healthcare organizations only emphasizes the need for a common consent-based data-sharing infrastructure that eliminates roadblocks for organizations while driving down complexity for consumers.
Mpowered Health is doing that precisely! It is a consumer-driven healthcare marketplace that enables consumers and organizations to easily share data and engage in transactions securely and privately on the platform. The California-based company seeks to deliver a new healthcare experience by offering individuals a solution to manage all their health information, access doctors & services, and share records with doctors & family members. The company also provides solutions to help healthcare organizations better acquire, engage and retain consumers. “Our solutions offer transparency, convenience, choice, and access to the users with the ultimate goal of empowering them to make better healthcare decisions,” states Nandini Devi, Founder, and CEO of Mpowered Health.
Simplifying Healthcare for Every Consumer
Mpowered Health’s free mobile application offers several services, like consolidating medical records, test results, bill payments, shopping for insurance and more. Using the app, consumers can connect to multiple health plans and providers, and consolidate their records spread across these organizations. They can also access services such as purchasing insurance, paying bills, ordering second opinions and more. The company will also shortly launch capabilities that will enable consumers to share their information with doctors, plans, family members, and caregivers. Mpowered Health launched its first set of services early this year
Medicare beneficiaries can download their claims from Medicare using the Mpowered Health’s Blue-Button approved solution. People can also order second opinions and get their reports delivered right into the app. “Initial consumer feedback has been incredibly positive, validating the need for such a solution,” explains Nandini.
The company is all set to launch another service that enables people to purchase a health or dental plan from within the app. This personalized health insurance shopping service is provided in partnership with one of the country’s largest health insurance marketplaces.
“We plan to bring more services to the consumer’s fingertips so that they can manage their healthcare experience from within the app,” explains Nandini. “Our solution is unique in the industry in that it puts the consumer in the driver’s seat. Empowering individuals and their families to make better decisions for their health & well-being is good for society overall. This compassionate, consumer-first approach is reflected in our innovative solutions.”
Data Protection, Compliance, and Better Consumer Engagement
On the enterprise side, Mpowered Health offers an end-to-end CMS compliance suite that assists Medicare & Medicaid payers & providers to comply with the CMS 9115, 9123, and 9915 mandates. The enterprise platform, as part of the suite of offerings – includes an FHIR compliant digital front door solution for organizations. “Acquiring and engaging consumers more effectively, while remaining compliant, is of tremendous value to enterprises. We enable our enterprise partners to do precisely that,” states Nandini. The platform is fairly easy to connect to and use and works based on the subscription model, where organizations connect to the platform for one or more solutions.
A Bold and Bright Future
Mpowered Health has an ambitious roadmap ahead as it plans to roll out offerings for both consumers and enterprises over the next 3-5 years. On the consumer side, the company aims to bring in more direct to- consumer services and expand its mobile capabilities such as expanding the digital wallet. For its enterprise partners, Mpowered Health aims to bring in more solutions for consumer acquisition and engagement, analytics & compliance, with a special focus on empowering specific groups such as the uninsured and seniors. For example, the company is focused on solutions to help with In place Aging and Homecare. This is valuable not only for seniors, but also for their families and caregivers, the doctors, and other people involved in their care.
“We seek to bridge the gap between the consumer and healthcare organizations they are working with, to remove the friction in information flow. We believe that given the right solutions, empowered consumers will make the right choices for their health & well-being and that of their families. Empowerment can also go a long way in reducing health inequities across populations and driving the overall health & well-being of society. From that standpoint, we are a different kind of company that is focused not merely on commercials and financial business elements but also on the societal impact,” concludes Nandini.