Medmo, a unique name-your-price imaging service, is helping patients access affordable MRIs and other imaging services by matching them to imaging centers within their budget. The New York-based startup’s platform is designed to help patients with high deductibles or no insurance find low-cost scans and imaging centers fill up empty slots in their schedule.
Medmo could be paving the way for a whole new pricing concept in the healthcare industry. Since the platform works by connecting patients with imaging centers that might have last minute openings, users can pay discounted rates as low as $225 for an MRI and $200 for a CT-scan.
Co-founder Christopher Kelly, MD, a cardiologist at Columbia University Medical Center, saw the need for the service after spending time treating underinsured patients. Imaging centers don’t pay a fee to join Medmo. Similar to ride sharing apps, the center receives an email notification when a local patient is requesting a scan, and he or she provides their budget and availability. The center can decide to accept or not, and Medmo completes the booking process.
“We want to return control to patients by letting them set the total, all-inclusive price for their test,” said Dr. Kelly. “We also want to provide a new way for imaging providers to offer variable discounts in order to keep their equipment active and profitable. If an MR scanner is likely to go unused for an hour, and the personnel are already there, why not provide access to someone who can’t afford standard prices? The travel industry adopted this model long ago, and it has benefited everyone.”