The CarePay™️ project is dedicated to improving the healthcare experience by applying technology that enables consumers to identify and select the best cost options for receiving healthcare services, while helping medical practitioners reach and engage with those potential client patients.
Transparency, especially in pricing, helps consumers to make informed decisions and with data from over two million providers, it also helps providers establish fair market rates for their services. Our network will help individuals and the many small and medium businesses who self-insure.
In addition to the web Portal, consumers can use Google Home and Amazon Alexa for speech-based access to the CarePay™️ system. The integration with Amazon Alexa and Google Home, allows patients to find and book doctors automatically. AND, our new Employer Platform makes it easy for employers to manage their employees’ health care benefits. Together we can improve the healthcare experience!
US spends two and-a half times the OECD average.
The U.S. spends more than any other country in the world. Healthcare spending in the U.S has grown 4.6 percent reaching $3.8 trillion or $11,582 per person according to a 2019 CMS report (Centers for Medicare & Medicaid Services). Health spending accounted for 17.7% of the gross national product. Healthcare spending is projected to reach $5 trillion by 2026, which would be a 5% increase from last year alone.
Only 80% of health insurance premiums go towards paying for service, while the other 20% is lost in administrative overhead. Oftentimes hospitals go unpaid for months, or longer—causing ever increasing costs for those who do pay.
SPENDING + SATISFACTION
According to a KFF (Keiser Family Foundation) study in 2020, the average family pays $21,342 a year for health insurance. That’s more than the median annual income of an American household. And it’s not just premiums that are going up—deductibles are too. In fact, in 2020, the average deductible is $1,644 – that’s an 111% increase in a decade and patient satisfaction has decreased by 13%.
feature interview with NBC’s Amy Davis
Oct 7, 2019
IN THE NEWS
The SOAFEE™ integrated mobile experience and speech-based experience is currently under development using Amazon Alexa skill SOAFEE™,Google Home skill SOAFEE™, and the SOAFEE™ mobile app. The integration with Amazon Alexa and Google Home, allows patients to find and book doctors automatically. That makes CarePay™ immediately available to over 119 million Americans.