Oct 30 2015
FairCare, a medical big data startup based in Silicon Valley that has uncovered millions of medical prices nationwide, was named in the Top 3 most promising companies at the 4th Annual HealthTech Conference on October 27-28, 2015. The startup shone among dozens of exhibitors aiming to move the needle in health tech. FairCare is using technology to empower healthcare consumers to make informed medical choices.
"The conference brought a sold out crowd of emerging entrepreneurs to understand what drives HealthTech innovation," says Anne DeGheest, Managing Director and Founder of HealthTech Capital. "Our 46 exhibitors had an opportunity to participate in our venture competition. I want to congratulate the three amazing companies that emerged as finalist and did such a great job presenting on stage: Limelight Health, FairCare and Lark."
Healthcare is the only industry where consumers buy products without knowing the price. In addition, costs can vary by up to 10x for the same procedure in the same area. A lower-back MRI can cost from $318 to $2450 in a 5-mile radius around Palo Alto, CA. Yet, it is nearly impossible to get medical costs before receiving care.
"High deductibles are the new normal for health plans, we believe consumers need to be able to choose their healthcare provider based on price and quality," says Eric Duprat, CEO and Co-Founder of FairCare. "Healthcare is one of the last areas where the internet has not improved efficiency yet. We are leveraging new technologies like big data, and mobile, to bring price transparency to consumers in a friendly way."
Macworld recently named the FairCare app (available on iOS, and other platforms soon) in the Top 5 most fascinating iOS apps at TechCrunch Disrupt SF 2015.
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