Certainly Health, an innovative HealthTech startup and up-and-coming trailblazer in the healthcare price transparency arena, has recently secured $2.3 million in funding, marking a significant milestone in its mission to revolutionize the way patients and doctors engage with medical and cosmetic care.
In response to the 2022 Transparency in Coverage Rule mandating insurance companies to disclose their pricing structures, Certainly Health emerged as a proactive solution to the pervasive issue of price opacity in the healthcare sector. A staggering 57% of Americans grapple with unexpected medical bills, causing apprehension for two-thirds of them. Meanwhile, 63% of healthcare providers face the challenge of escalating patient balances.
Kevin Chiu, the co-founder and CEO of Certainly Health, emphasized the dire need for transparency, citing the prevailing confusion among patients due to the increasing prevalence of high deductible plans. He noted that the lack of clarity on prices has resulted in significant price disparities among healthcare providers, irrespective of the quality of service. This, in turn, has deprived patients of the ability to make informed decisions about their healthcare.
Certainly Health addresses this issue by offering a unique online marketplace where patients can seamlessly book medical and cosmetic appointments with upfront prices. By leveraging machine learning, the platform predicts and guarantees patients’ out-of-pocket costs for each healthcare provider. In instances where the actual costs exceed the booked price, Certainly Health covers the difference on behalf of the patient. Simultaneously, for providers, the platform ensures that every patient referred will fulfill their entire financial responsibility.
Chiu has elaborated on the company’s approach, emphasizing the importance of allowing consumers to use their health insurance without necessitating significant education efforts or altering provider workflows. By doing so, Certainly Health aims to facilitate cost savings for consumers without compromising the quality of care.
The genesis of Certainly Health can be traced back to the 2022 Transparency in Coverage Rule, which compelled insurance companies to disclose all their prices. Armed with this data, the platform launched in New York City, boasting thousands of doctors available for booking.
Typically catering to customers in their 20s or 30s who have previously encountered surprise medical bills, Certainly Health’s most common bookings involve scheduling care in advance. Dermatology appointments for annual skin screenings top the list, but the platform has also facilitated bookings for cosmetic procedures like Botox, which, despite lacking insurance coverage, exhibit substantial price variations.
The platform’s impact is tangible, with patients booking appointments across ten different specialties, including podiatry, ENT, and PCP. Success stories abound, with one patient saving $900 compared to a previous visit with a different podiatrist for the same services. Moreover, Certainly Health has facilitated refunds for several patients who were overcharged during their visits.
The recently secured $2.3 million in funding will help propel Certainly Health with expanding their team, transitioning from its current two-founder setup to a workforce of approximately seven employees over the next year. Additionally, the capital infusion will be channeled towards enhancing the platform to enable more consumers to book various types of care, ranging from radiology and labs to an expanded array of cosmetic procedures.
Chiu articulated the overarching goal of Certainly Health: to establish itself as the premier destination for individuals seeking cost-effective healthcare solutions while steering clear of surprise bills. The company envisions success as the empowerment of Americans to make informed decisions about their healthcare by providing comprehensive cost information whenever necessary.
Check out Certainly Health to simply book doctors without any surprise bills today.