HealthTransaction Network Aims to Offer Lower-Cost Alternatives for Health Care Nationwide |
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Written by U.S. Insurance News
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Sunday, 10 February 2008 |
HealthTransaction Network is attempting a first-building the first coast-to-coast health care provider network geared for underserved populations.
Starting in the northeast, the Buffalo-based company wants to expand into every state, providing routine wellness and preventive care services at affordable costs through any health care provider who chooses to participate in the network.
The network connects providers and consumers using a secure electronic transaction system that quickly processes transactions between the parties. In addition to relying on a shared processing infrastructure, the network uses consumer cards, which ensure proper patient identification, and a new electronic transaction terminal device at the location of each participating provider.
Joseph E. Wolfson, president and CEO of HealthTransaction Network, said the new, national network is a "win-win" for consumers and providers alike.
"It reduces costs for the provider making it possible for them to offer routine medical services at more affordable rates to the consumer, thereby improving access and patient outcomes," Wolfson explained.
For a minimal processing fee, consumers can access and purchase services by subscribing to the HealthTransaction Network and obtaining a card from a participating provider or employer. In addition to verifying their identity, consumers' cards may be used as a stored value card.
The types of services consumers can get through the network include preventive, wellness, and routine services, such as physicals, dental cleanings, eye exams mammograms, and X-rays. Each service will be available on a per transaction basis. In addition, consumers will have access to generic prescriptions for as low as $7.
Currently, the HealthTransaction Network is in negotiations with several other health systems and provider networks and is also recruiting small business owners-employers who have the hardest time paying for health care coverage for their employees-to join.
"Employers currently unable to afford health coverage for their employees will now have another option," Wolfson stated. "By participating in the network, employers can contribute to their employees' health care by adding funds through the stored-value function of the consumer card. The employees can then use the card to purchase routine medical services at any participating HealthTransaction Network location nationwide."
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