David K. Young Consulting, MyMedicalShopper partner to reduce healthcare costs
Retirement and benefits consulting firm David K. Young Consulting (DKYC) and MyMedicalShopper, a provider of healthcare price transparency software, will together pull back the curtains on healthcare spending. Through a new partnership, MyMedicalShopper’s product suite will be available to all DKYC clients, allowing both employers and employees more choice and control over their healthcare benefits.
New Hampshire-based MyMedicalShopper offers products such as transparency technology, claims analytics, and a streamlined administration system. The overall suite aims to set employers in a position to improve employee benefits while simultaneously enjoying lower healthcare costs.
“We are excited to be partnering with David K. Young to bring integrated solutions to their clients to help them control their healthcare costs,” Mark Galvin, MyMedicalShopper co-founder and CEO, said. “By partnering with creative third-party administrators (TPAs) like David K. Young, we can empower consumers to collectively reverse the trend of rising healthcare costs for businesses and their employees alike.”
The partnership marks an enormous opportunity for Texas-based DKYC, as it clears a path for the firm to offer its clients a fertile environment for consumer-driven healthcare plans. Healthcare, unsurprisingly, is an evergreen hot topic in the US, especially regarding matters of pricing and cost.
A report from PA Consulting, for example, showed the benefits of value-based care, which links processes, structures, and reimbursement to patient outcomes, as opposed to the traditional “fee-for-service” model, which creates incentives for frequent care – often at the literal cost of patients.
A focus on healthcare costs means healthcare and healthcare insurance providers are increasingly behind held accountable for their pricing. This leaves the door open for healthcare specialized consulting firms such as Sunstone Consulting. The firm recently announced an enhancement of its Pretium solution, which assists providers in making better and more transparent pricing decisions. Providers, according to Sunstone, can stand behind their prices by “developing, documenting, and implementing a carefully considered and well-thought-out pricing methodology.”
DKYC’s partnership with MyMedicalShopper sails the same waters, according to the firm’s principal and founder David K. Young. “We pride ourselves on offering the very best healthcare solutions for our clients to help them control costs and reach their goals,” he said. “As a full-service TPA, we’re constantly looking for new tools and solutions to help clients make more informed, affordable healthcare decisions. We’re excited to be able to combine our top-notch consumer-directed health accounts with the MyMedicalShopper solution for our benefit consulting partners and our clients.”
