Curated News
By: NewsRamp Editorial Staff
October 29, 2024
PayMedix Study Shows Significant Cost Reduction and Improved Access to Healthcare
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GithubTLDR
- PayMedix member rates are rising at an annual rate that is approximately 40% lower than the national average. Employers who use PayMedix are saving money for themselves and their employees.
- PayMedix's zero-interest financing and healthcare payments solution successfully stems the rise in health insurance costs for its employer members by as much as 40% versus the national average. It provides complete, uncapped financing for all in-network allowed charges that any employee may owe to providers.
- PayMedix can break the cycle of out-of-control healthcare costs and fix our broken healthcare system by providing guaranteed zero-interest financing for employees and prompt full payments to providers. It improves equitable access to the healthcare system and allows all employees to access care that fits their means and budgets.
- PayMedix's findings show that its innovative payments solution lowers costs for employers and employees, improves access to healthcare, and contributes to better outcomes by reducing inpatient utilization.
Impact - Why it Matters
This news matters because it demonstrates how innovative payment solutions like PayMedix can significantly reduce healthcare costs for employers and improve access to care for employees. The findings can have a positive impact on both the financial well-being and health outcomes of employees, as well as the overall healthcare system.
Summary
PayMedix's analysis of member data shows its zero-interest financing and healthcare payments solution successfully reduces health insurance costs for employer members by as much as 40% versus the national average. The study also revealed that subscribers are less likely to need in-patient hospital care and have equitable access to care regardless of credit scores. The findings demonstrate the long-term benefits of PayMedix's innovative payments solution, first introduced more than 10 years ago.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, PayMedix Study Shows Significant Cost Reduction and Improved Access to Healthcare
