President, MediXall Group, Inc
MediXall.com is a healthcare marketplace that makes scheduling an appointment for specific healthcare services as simple and easy as booking a flight and hotel through Expedia or Priceline, providing consumers with reviews, transparent pricing, and comparative shopping.
Michael Swartz currently serves as President of MediXall Group, Inc. Since joining the MediXall Management team in late 2016, Michael Swartz has led product development projects and has been directly responsible for bringing the MediXall Healthcare Marketplace to launch. Prior to joining MediXall, he was a Co-founder and served as a Senior Analyst of Viridian Capital Advisor, a financial and strategic advisory firm dedicated to the cannabis industry, from 2013 – 2016, where he led all modeling and valuation work for the firm’s M&A and fundraising assignments.
Before that, he was a co-portfolio manager for the Osprey Financial Group, where he analyzed publicly traded companies with market capitalizations from $50 million to $1 billion and prepared buy-side equity reports containing buy-recommendations and original valuations derived from fundamental & technical analysis. In addition, Mr. Swartz served as the fund’s Asian Economist, analyzing economic and geopolitical factors and assessing the Asia-Pacific region for attractive investment opportunities.
We have Star Wars medicine in a Flintstones healthcare system.
How did you get into the industry?
I lost my health insurance right when I moved to New York City. Trying to find an affordable doctor was incomprehensible. I could not find anything with regard to pricing besides Urgent Cares. That is when the light bulb went off, “there has to be a better way”. That is what led to the start of my journey to fix healthcare.
Career advice to those in your industry?
Healthcare is not partisan: it is more important than platforms and promises. It requires open debate without all the posturing for votes in the next election cycle or brinksmanship to get the upper hand over political adversaries.
Your key initiatives for the success of the Business? Greatest Accomplishment?
We intend to build a company that makes the healthcare process more consumer-focused and cost-effective through transparency, personalization, and simplicity. Our goal is that we create a healthcare shopping experience that leads to our customer telling their friends about MediXall.com because of the experience, ease-of-use, low prices, and service that we deliver.
The greatest accomplishment so far is the strength of the MediXall Team and the culture we have built. Throughout the organization, we are committed to constant improvement, experimentation, and innovation in every initiative. Being a pioneer is in the DNA of the company.
Since the launch imaging services on MediXall.com, we have been testing out and refining different marketing approaches, to position the company to hit the ground running as we add new specialties over the next two months and take full advantage of the new year. We are working to build a place where customers can find and discover anything healthcare, dental, or wellness related they want or need, anytime, anywhere.
What makes you the best version of yourself?
My hustle and passion.
What are your aspirations? (Business)
In a world empowered by price transparency and real time patient centered decision support at the time of care, electronic ordering, and round-trip patient monitoring and reminders, we believe MediXall.com can remove the complexity, decision fatigue, and confusion facing the average patient every day in the U.S. health system.
Our vision for the MediXall.com’s prominence in the healthcare marketplace is to create a unified online environment that connects physicians and caregivers to patients, and payers to the caregivers, across all healthcare settings. Starting with pricing transparency and leveraging the just-in-time service delivery model, we intend to expand our service offerings to enable smarter care, empower the customer/patient and reduce unnecessary costs at virtually every point of the healthcare continuum; whether organically, through acquisitions, or through integration with our strategic partners’ solutions. As we expand the Healthcare EcoSystem, the MediXall.com Platform will facilitate such transformation in the future of healthcare by offering community connectivity, interoperability, data analytics, and consumer engagement features and functionality.
Your most difficult moment at the Business? (and what did you learn?)
During the controlled launch from March of 2018 to June 2018, we learned how much we do not know about how healthcare operates over those months. This led to us as a company taking a step back and focusing our efforts on one specialty at a time. We made it a requirement to truly understand everything about a specific specialty before launching (this includes pricing mechanisms, how consumers find a specific doctor, etc.) Looking at successful companies, we saw the tendency for these companies to be deliberate in new service or service lines that they add. Just as Amazon started with books, we launched imaging services in September 2018 and have added other in demand specialties over the following months.
Tell Us More:
The key to unlocking the affordability of health care does not lie with political recommendations around policy. Without really looking under the hood at the cost mechanisms of U.S. health care, the fundamental costs don’t change from pre-Affordable Care Act times, Obamacare, or proposed changes under future healthcare proposals.
As we push toward industry changes, the solution lies in evolving the economic model to promote free market pricing and innovation. Additionally, alternative care delivery platforms, such as telemedicine, on-site employer clinics and concierge medicine, are changing the way the traditional model works. We need to explore ways to unravel the current system that lets the entrenched industry players dictate pricing from behind the scenes and begin to shift the power back to the consumer. Consider the case of LASIK eye-correction surgery. LASIK is not covered by insurance because purchasing eyeglasses is much less expensive than LASIK. Because consumers must pay directly for LASIK services, the LASIK market has behaved just as the conventional technology sector has: over time, prices have gone down, and quality has gone up. No LASIK provider or supplier has complained that the decline in prices has led to less innovation. As we can see market forces will and certainly do work best in the areas of America’s health care system where insurers play less of a role, and consumers’ willingness to pay is at the center.
As healthcare consumers become increasingly price sensitive under high deductible plans, the main priority of the changes to our healthcare system should be centered around empowering consumers to choose healthcare providers and services based on convenience and personal criteria as opposed to the rules of a third-party. When consumers have real choice instead of a requirement to stay within proprietary PPO and HMO provider networks, consumers will shop for an array of competitively priced wellness and medical services offered by the ever-increasing supply of primary care providers, specialists and ancillary service providers choosing to practice healthcare via internet enabled platforms. As substantial amounts of primary and specialty care become easily accessible through Internet-enabled care, virtual care or self-care, patient satisfaction will increase, as will the amount of time physicians are able to focus on critical care needs.
The conclusion we should make is that it appears that the U.S. healthcare consumer is ready to price shop for their growing healthcare needs. However, if we truly want to see this happen, the healthcare industry needs to evolve to a patient-centered model to foster this new wave of consumerism. This is exactly the reason we created MediXall.com.