Background
Founded in 2013, PriceMDs is a Florida-based healthcare technology company specializing in cost containment solutions for self-insured employers. The company's mission is to reduce healthcare expenses while enhancing patient outcomes by offering transparent, bundled pricing for elective surgical procedures and specialty treatments. PriceMDs has established itself as a significant player in the healthcare industry by addressing the escalating costs faced by self-insured plans and their members.
Key Strategic Focus
PriceMDs concentrates on delivering two primary solutions:
- NearCare™ Cost Containment: This program provides access to a network of over 600 outpatient surgical centers and more than 3,000 imaging facilities across 48 states. It offers all-inclusive, low-cost bundled pricing for over 400 outpatient elective surgical procedures, enabling employers to reduce costs by approximately 50%.
- Treatment Cost Containment: Aimed at managing expenses for chronic conditions, this solution offers all-inclusive treatment options that can reduce costs by approximately 30%. It covers over 220 major drugs for conditions such as hemophilia, cystic fibrosis, Crohn’s disease, psoriasis, colitis, rheumatoid arthritis, and cancer. The program includes telehealth consultations and, when necessary, travel arrangements for medication pickup.
Financials and Funding
As of 2025, PriceMDs reports an estimated annual revenue of $5.3 million, with a valuation of approximately $300 million. The company has raised a total of $3.7 million in funding, including a $2.7 million Series A round completed in June 2018.
Technological Platform and Innovation
PriceMDs leverages a proprietary technology platform that integrates seamlessly with existing insurance plans. This platform enables self-insured employers and their employees to identify qualified healthcare providers offering pre-negotiated, all-inclusive bundled prices for a wide range of outpatient surgical procedures. The platform's extensive network includes over 1,100 outpatient surgical centers and thousands of physicians across 44 states.
Leadership Team
- Dr. Marc Grossman: Co-Founder, Chairman, and Chief Executive Officer. Dr. Grossman has been instrumental in steering PriceMDs' strategic direction and growth since its inception.
- Dante Panella: Co-Founder and Head of Business Development. Mr. Panella focuses on expanding the company's market presence and forging strategic partnerships.
- Nicholas Tsolakakis: Executive Vice President of Marketing & Supply Chain Management. Mr. Tsolakakis oversees marketing strategies and supply chain operations.
Competitor Profile
Market Insights and Dynamics: The healthcare cost containment market is experiencing significant growth, driven by the increasing financial burden on self-insured employers and the demand for transparent pricing models. Employers are actively seeking solutions that offer cost savings without compromising the quality of care.
Competitor Analysis: Key competitors in this space include:
- TALON: Provides healthcare price transparency tools to employers and consumers, focusing on compliance with transparency regulations.
- Okadoc: A Dubai-based platform offering doctor booking and telemedicine services, aiming to streamline patient access to healthcare providers.
- KelDoc: A French company that facilitates online appointment booking with healthcare professionals, enhancing patient engagement and access.
- Zocdoc: A well-established platform in the U.S. that allows patients to find and book appointments with doctors online, offering a wide range of specialties.
- HealthJoy: Provides a mobile application that consolidates various healthcare services, including telemedicine, benefits navigation, and cost containment solutions.
These competitors focus on improving healthcare access and transparency, with varying degrees of emphasis on cost containment and bundled pricing models.
Strategic Collaborations and Partnerships
In April 2018, PriceMDs partnered with Acrometis to introduce its Surgery Cost Containment product to the workers' compensation market. This collaboration allows workers' compensation payers and third-party administrators to significantly reduce surgical costs by utilizing a vast directory of surgeons and surgical centers offering procedures at pre-determined bundled rates.
Operational Insights
PriceMDs differentiates itself through its extensive network of healthcare providers and its proprietary technology platform that offers transparent, bundled pricing. By focusing on elective surgical procedures and specialty treatments, the company addresses some of the most significant cost drivers for self-insured employers. Its solutions are designed to integrate seamlessly with existing insurance plans, minimizing disruption while maximizing savings.
Strategic Opportunities and Future Directions
Looking ahead, PriceMDs is well-positioned to expand its market share by:
- Enhancing Technological Capabilities: Investing in advanced analytics and machine learning to further refine cost containment strategies and provider recommendations.
- Expanding Provider Networks: Continuing to grow its network of surgical centers and imaging facilities to offer broader geographic coverage and procedure options.
- Diversifying Service Offerings: Exploring additional areas of healthcare cost containment, such as inpatient procedures and emerging treatment modalities.
- Strengthening Partnerships: Building alliances with additional third-party administrators, insurance carriers, and large employer groups to extend the reach of its solutions.
By leveraging its current strengths and focusing on these strategic opportunities, PriceMDs aims to solidify its position as a leader in healthcare cost containment.
