Nibble Health Introduces 'Simple Bill' for Improved Medical Bill Transparency

Published 6 months ago

Healthcare payments company, Nibble Health, has launched a new product named ‘Simple Bill’. This medical bill intelligence tool aims to provide greater transparency and understanding for employees in the US regarding their healthcare costs.

Addressing Healthcare Affordability

Initially, Nibble Health entered the scene in 2022, offering zero-cost healthcare financing as an employee benefit. This service allows employees to pay for medical bills in no-interest, no-fee installments over a period of time. By eliminating the barrier of upfront costs, Nibble Health provides a safety net for employees. This service also enables companies to reduce overall medical expenses while increasing employee satisfaction.

Enhancing Medical Bill Transparency

The new product, Simple Bill, offers an added layer of protection for Nibble users by providing transparency for medical bills. Employees can upload itemized medical bills to the Nibble App for immediate analysis. Using a nationally recognized set of medical coding standards, the app can swiftly identify logical coding errors and cross-check charges against local and national pricing sources.

Should errors or overpriced charges be detected, Nibble equips employees with tools to share this information with their healthcare provider. This information can be used to negotiate the cost of the bill. Once the bill is settled, Nibble’s financing option can be utilized to pay the final bill over an extended period without interest or fees.

The Impact of Coding Errors

Co-Founder and CTO, Phil Markunas, highlighted the prevalence of coding errors on hospital bills, stating that “up to 80% of hospital bills contain coding errors”. He noted the lack of understanding surrounding medical bills, with patients, doctors and even medical experts often confused by technical terms and charges.

Markunas believes that Nibble Health’s new product will bring about a much-needed change, providing “radical transparency” for itemized medical bills. This increased transparency is expected to empower patients to make better, more cost-efficient healthcare choices.

About Nibble Health

Established in 2021 by Phil Markunas and Steven Greene, Nibble Health is supported by several venture capital firms and angels within the healthcare and financial services sectors. The company’s mission is to make a dent in the $365 billion of out-of-pocket healthcare expenses incurred by Americans each year. By linking financial wellness to physical wellness, Nibble Health provides a crucial benefit for users.