(November 12, 2015, Times of San Diego) – The Affordable Care Act, or Obamacare, has drawn its share of criticism, but it has also created opportunities for entrepreneurs. Doctible is helping Americans on high-deductible plans cut the cost of a doctor’s visit by paying cash. Times of San Diego spoke with CEO and Founder Ajit Viswanathan about the two-year-old company, which just graduated from the EvoNexus incubator program.
Why did you start Doctible?
Quite honestly, Doctible was founded out of my own personal experience and frustration with today’s healthcare system. Three years ago, I injured my knee during a marathon and I went in for an MRI. I assumed my health insurance would adequately cover for the cost of the MRI, so I didn’t ask any questions about cost. You can imagine my shock when I received a $1,300 bill. Why so expensive? Because I, like many others, have a high-deductible health insurance plan. This bothered me so much that I started doing some research. I found that the same MRI procedure only would cost $450-$650 at another San Diego healthcare provider if I paid cash. Digging in deeper, I found that cash pay rates are typically 14 to 70 percent less than my insurance rates. The big problem is none of this information is organized or easily accessible. Doctible was started to tackle this problem.