|Founder 👔||Thomas Farmer, Julian Henley|
|Headquarters 🏙️||, |
Santa Monica, CA,
Area served 🗺️
|Thomas Farmer, MBA (CEO) Julian Henley, MD (CMO)|
Number of employees
Healora is a US start-up company based in Santa Monica, California that connects doctors and patients directly to remove all the administrative middle layers of cost through an online platform. Healora started in Los Angeles with over 100 registered providers and a dozen surgery centers.
Healora was founded in 2016 by Thomas Farmer, MBA and Julian Henley MD. Mr. Farmer serves as the company’s CEO and Dr. Henley is the CMO. The idea of the concept came up after the founder, Thomas Farmer, strained his knee in 2011 and faced the health insurance process.
Healora is an online platform which connect doctors and patients in Direct Pay. The platform uses a healthcare negotiation pricing supported by three patents, two issued and one pending.
Patients can book a price for a specific medical procedure among 25 specialties including cardiology, dermatology, ENT, gastroenterology, general Surgery, Internal Medicine, neurology, neurosurgery, OBGYN, ophthalmology, orthopedics, pain management, physical medicine & rehabilitation, plastic surgery, podiatry, radiology and urology, for the doctor of their choice. The platform leads the patient in order to find the best doctor for him according to his localization.
Providers can register and display the medical procedures they are willing to provide for a cash practice.
Employers can register for their employees, keeping their health insurance plan.
US Healthcare's going towards a Direct Pay Cash System
In 2016 the US spent $3.3 Trillion on healthcare. Deductibles and copays have been going up and benefits continue to get trimmed. In the meantime, the population health declined (life expectancy, obesity, diabetes, etc.).
Because those thresholds of how much people pay first keeps rising, consumers are starting to look more critically at medical costs. Healthcare is a very non-transparent system so people are getting creative in removing costs. One way to do that is to be a part of a “direct pay” network.
In a direct pay network the consumer connects with direct pay doctors where many of the middle layer costs are removed. Direct pay network doctors list their “cash” prices (you can pay with check or credit card) for payment at the time of service. This can remove up to 70% of the administrative costs of a medical procedure.
Doctors spend 60% of their time on administrative work. If doctors can make about the same money and remove all the costs for the patient they get to spend more time with the patient and less time on paperwork.
The momentum is for a direct pay system where people can pay the healthcare providers directly and remove much of the third party administrative cost layers.
This article "Healora" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Healora. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.