With healthcare top of mind for Americans, new options exist that disrupt the flawed industry; Cash-price model saves members up to 40%
Nearly 6 million Americans have already lost health insurance due to COVID-19, with millions more at risk
Even before the pandemic hit, millions of Americans lacked critically needed health insurance. Now, with businesses struggling to stay afloat, millions more are at risk of losing employer-sponsored insurance, leaving them to navigate the marketplace on their own.
From short-term products to employer-group plans, the marketplace is cluttered with options that leave consumers dizzy with questions. However, there is a simple, affordable and personalized alternative that turns patients into purchasers, giving them the ability to shop around for care as they would with any other commercial product.
Sidecar Health, which operates on the principle of cash payments, is turning the industry on its head. While traditional insurance acts as a middleman between patients and doctors, leading to increased costs and surprise bills, Sidecar Health members get substantial discounts (and no surprise bills) from providers by paying cash directly at the point of service. They also get to enjoy the freedom to see any medical service provider they need, without network restraints.
Patrick Quigley, Chief Executive Officer and Co-Founder of Sidecar Health, addresses the following topics and questions:
- How the cash-price model differs from existing insurance options
- How “cash-price” insurance saves money by getting rid of the inflated commercial prices negotiated by traditional insurance
- How COVID-19 has impacted health insurance and healthcare in the U.S.
- How those who have lost employer-sponsored coverage can access high-quality coverage on their own terms
- How an unexpected medical procedure led Patrick to his a-ha! moment and the creation of Sidecar Health
Station Note: This segment is brought to you by Sidecar Health
Patrick Quigley, Chief Executive Officer and Co-Founder, Sidecar Health
Patrick Quigley founded Sidecar Health in 2018 as a new approach to insurance. The company now operates in 14 states using a disruptive cash-price model to save members 40% or more on health care costs. With a storied career spanning 15 years in health insurance, Patrick has led companies dedicated to various aspects of the industry. He spearheaded the growth of Healthplans.com, a leading website that connected 35 million people with carriers and brokers to find plans for their families. Patrick also served as CEO of Katch, which helped carriers enroll new members in individual health plans producing over $3B in annual premiums.