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    Date submitted
  • 27-Sep-2018

Health Insurance Tracker

Abstract

The core idea of the application is consolidating medical, financial and health insurance information. The application help users to have cognizance of their health insurance benefits. Users are able to track their health insurance plan and take informed decision before getting treatment in the hospital.

Users are more aware of how much they need to pay from their own pocket and how much percentage the health insurance would cover before getting treatment.

Users would be able to know the hospitals covered in their health insurance plan.Based on the illness and location of users,they can search nearby in-network hospitals.

Users can also search doctors and know their ratings.Users can also track the medical savings account ammount before it expires.

Photos

Additional Questions

Who is your customer?

We would like to target the customers in the age group of 26 - 60 who have health insurance provided by their employers.We would like to sell our product to companies who buy health insurance for their employees.We would provide the health insurance data to the companies and consult them for getting the best health insurance according to their budget and employee needs.This will help the employers to retain their employees if they buy the product and employees would be benefitted with our app.

What problem does this idea/product solve or what market need does it serve?

The health insurance is very confusing in United States and its difficult to keep track of health insurance.The user is mostly fearful about how much the insurance pays for getting treated and how much he has to pay from his own pocket.For this reason,many people dont even visit doctors.This app will help them to know in advance the treatment cost and they can take informed decisions. This app also helps to track the health insurance benefits for the users by providing information about the hospitals in network, tracking medical savings amount, rating doctor etc.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

The user can track down the percentage he needs to pay and the ammount his insurance would cover before getting the treatment. The app would help users to list down the hospitals in network for his insurance.With this app,users can search for hospitals in the nearby area based on illness.The user can also view the doctors rating and find out the best doctor for treating a particular disease.The user can also track down the category of illness covered in insurance plan like mental illness,heart disease etc.The availability of doctors is also a concern since sometimes the wait is for 2-3 months for getting an appointment,the app will also show availability of doctors.Users should be able to use the Medical Savings Account money to pay deductibles or copay and track it down before it vanishes. Currently,the people are puzzled and mostly confused about their health insurance and how it works.The features will help them to take informed decisions before getting treated.They will be well aware of the ammount of money they need to pay out of their pocket and the insurance coverage,the hospital and doctors information that will make the app successful because of the utilization.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

We will make a BtoB business model .We want to sell our product to businesses that provides health insurance to their employers so that we can reach our end users i.e employees.For now,we would provide consulting model for businesses to choose insurance for their employees based on the budget,age of their employees,provide them the data about various health insurances,compare the prices,and also provide them the app Health Insurance Tracker App.If the business uses our consulting model and our services,the employers get to use the app.The employees would be happy and it would help the employers for employee retention.