FastMed’s Savings Plan Answers Need Created by New Arizona Law
Direct Pay Patients with Insurance Turn to FastMed Savings Plan for Value
Gilbert, AZ – August 12 – FastMed Urgent Care (“FastMed”), the sixth largest urgent care provider in the United States, and the largest in Arizona, has seen a sharp enrollment increase in its groundbreaking FastMed Savings Plan (the “Savings Plan”) thanks to a new Arizona law that allows insured patients the option of directly paying at the time of treatment instead of going through an insurance carrier. This means a potentially lower price and more control over exactly how high deductible program expenses are managed.
The Savings Plan enrollment has surged approximately 136% between 2013 to 2014 year-to-date, thanks in large part to direct pay patients seeking a value-based option that gives them access to quality care at a more affordable price through the Savings Plan. “Today 38% of people with health insurance have a deductible of at least $1,000,” said Kevin L. Blank, President and CEO of FastMed. Furthermore, the new law has been interpreted to allow patients to have more control over their health care saving funds.
"Patients are FastMed's #1 priority, and the Savings Plan was designed specifically to provide clear, comprehensive, cost effective, and expanded care to our direct pay patients," said Michael P. Dunn, M.D., President and Chief Medical Officer of FastMed Arizona. Dr. Dunn further noted, that "rapidly increasing patient enrollment in FastMed's Savings Plan tells us we have struck a chord with direct pay patients thanks to this new law."
The Savings Plan was established in 2011 to increase access to health care and help uninsured patients afford quality care, 365 days a year. The Savings Plan is the only program of its kind in Arizona. The highlights of the program include:
- Comprehensive Treatment – The Savings Plan offers straightforward pricing on a broad range of treatments from wound care, stitches and skin care to burn treatment, fracture management and foreign body removals. The Savings Plan also offers in-house testing such as radiology exams, rapid step/flu testing and pregnancy testing.
- Expanded Access - Savings Plan Patients have access to over 35 FastMed locations throughout Arizona and 74 nationally for treatment. FastMed locations are open 7 days a week, 365 days a year with extended evening hours and all FastMed clinics take walk-in patients.
- Cost Effective - For urgent non-life-threatening injuries and illnesses, the Savings Plan offers direct pay patients considerable cost savings. A trip to a FastMed urgent care center will cost you one-seventh to one-tenth the price of an emergency department visit for the same treatment. Many services are $99 per visit after a yearly family enrollment fee of $35 and even include x-rays if recommended by the provider.
Patients with insurance who elect to directly pay for treatment at a FastMed urgent care center have to provide written consent and payment in order to enroll in the Savings Plan. For more information on the Savings Plan prices and services, please visit www.fastmed.com/services/savings-paln/ or visit www.fastmed.com and key word search "Savings Plan."
For more information on the Arizona legislation passed to provide insured patients the option of directly paying for care, increase transparency in health care pricing and improve treatment outcomes, please visit the Arizona House of Representatives Bill: H.B. 2045 or read the State of Arizona, Governor’s Office Official press release.
About FastMed Urgent Care:
FastMed Urgent Care is an owner and operator of urgent care facilities with locations throughout North Carolina and Arizona. FastMed focuses on the delivery of non-appointment based medicine to the non-emergency patient market. The urgent care centers are open 365 days-a-year and are staffed with experienced and licensed physicians, physician assistants and nurse practitioners. For more information, please visit www.fastmed.com. FastMed is managed by an affiliated entity of one of the investment funds of the Comvest Group. For more information, visit www.fastmed.com, follow us on Twitter (@FastMedClinics) and Facebook (Facebook.com/FastMed).
About the Comvest Group:
The Comvest Group, with $1.2 billion of assets under management, provides flexible financing solutions to lower middle-market companies through its equity and debt funds, often meeting time-critical and complex funding requirements. The firm includes seasoned, senior level operating executives who partner with managers and owners of companies to operationally improve businesses and create long-term value. Since 2000, Comvest has invested more than $1.5 billion of capital in over 105 public and private companies. For more information, please visit www.comvest.com.
Sr. Dir. of Communications | Marketing
FastMed Urgent Care