How Cash-Pay Healthcare is Cutting Medical Costs by 50%: A CrowdHealth Success Story - Andy Schoonover w/ CrowdHealth

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CrowdHealth is revolutionizing healthcare by creating a community-funded alternative to traditional insurance, where members pay cash for medical services at significantly lower rates while maintaining high-quality care.

KISMET

While most would assume large insurance companies like UnitedHealthcare (the 7th largest company by revenue globally) would negotiate the best rates, CrowdHealth members are actually securing medical procedures at about 50% of what insurance companies pay - typically around 130-140% of Medicare rates compared to insurance companies' 250-300%.

EPISODE SUMMARY

In this compelling interview, Andy Schoonover, founder of CrowdHealth, explains how his company is disrupting traditional healthcare financing. After a personal experience with insurance denying coverage for his daughter's medical procedure, Schoonover discovered that paying cash for healthcare services often costs significantly less than using insurance. CrowdHealth now serves 10,000 members who fund each other's healthcare needs, having processed 20,000 bills over three years. Members typically pay half what traditional insurance costs, without networks or complex paperwork. The company has successfully handled major medical events, including a $1 million emergency that was negotiated down to $200,000. CrowdHealth is also pioneering a new approach to wellness by offering discounts to metabolically healthy members, creating financial incentives for maintaining good health. The community aspect encourages members to make cost-conscious healthcare decisions, as they're helping fellow members rather than faceless insurance companies.

Contact info for Andy Schoonover
Invitee Email: [email protected]
Twitter: https://x.com/JoinCrowdHealth
Instagram: @joincrowdhealth
Website: www.joincrowdhealth.com
LinkedIn: CrowdHealth

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