MediBid, Inc. is a start-up company that allows patients to describe the procedure they want done and put it out for doctors to bid on. “Our mission is to give better quality health care at a better price with more choice and more access,” says Ralph Weber, a Katy, Texas, businessman and CEO of MediBid. According to investigative reporter Bill Spencer, doctors from all over the country (and even the world) can bid on the job, giving the patient the best price for that particular procedure.
Weber claims that patient customers, by putting their surgical needs out for bid, can save from 35% to 75% on most procedures. “And,” he said, “each bid comes with a rating on that doctor and a brief history of his work.” Among the most common surgeries advertised for are hip and knee replacements.