What is Tendo Marketplace?

Your facility has partnered with Tendo Marketplace to make payment collection simpler and faster with upfront, easy-to-understand procedure bundles at affordable and predictable prices. Each bundle is designed to include all services associated with a procedure.

Tendo Marketplace is a nationwide on-line network that provides access to bundled healthcare procedures for patients on the public-facing mdsave.com website, and for members of self-funded employer health plans through Care Connect. Your facility has chosen to list procedures on Tendo Marketplace, so you will interact with patients who have purchased these procedures.

Here's how Tendo Marketplace works:

• MDsave.com - Self-insured patients, patients with high deductibles, and patients whose insurance has denied coverage for procedures can purchase vouchers for their procedures on the public MDsave.com website, often at a discounted price. Patients can shop for their procedures and pay for vouchers for the procedures through a shopping cart system that is similar to other consumer shopping experiences. They then bring the vouchers for their procedures to their appointment, where your staff can log into your Provider portal on Tendo Marketplace to verify the vouchers. The vouchers are redeemed with through automated claims or you can redeem them manually at the point of service if your facility doesn't use claims.
• Care Connect - Care navigators for companies with self-funded employee healthcare plans help the companies' employees purchase procedures on Care Connect. The employees bring vouchers for these procedures to their appointments, where they can use Care Connect vouchers as proof of payment for a procedure just like MDsave vouchers are used.
• If your company chooses to do so, you also can help patients shop for and purchase vouchers for your facility’s Tendo Marketplace procedures at any time during their care.

You can shop for, and manage all of these vouchers on your Tendo Marketplace Providers portal. Your admin staff also can view reports and dashboards related to procedure sales.

With Tendo Marketplace, you can improve patient satisfaction by:

Giving Patients the Full Financial Picture - A Tendo Marketplace price includes fees for every service included in a procedure, so patients understand their full financial responsibility up front and can make informed decisions about their plan of care. Patients benefit from prices that include all costs associated with a procedure, with no surprise bills.

Helping Patients Budget for Their Care - Providers often offer procedures at lower prices through Tendo Marketplace in exchange for getting paid up front and having less administrative overhead because Tendo Marketplace handles the payment process.

For your facility, you can:

Increase Collections at Point of Service - It takes an average of 3.3 statements to collect payment on high deductible patients. With Tendo Marketplace, you can avoid this by collecting at the point of service, collecting more faster, and reducing administration overhead associated with billing.

Increase Downstream Revenue - You can increase your downstream revenue, as Tendo Marketplace patients spend an average of 5x more on their next health event.

Expedit Payment - Tendo Marketplace pays all bundle participants as soon as possible after funds have been collected, usually within one week, so there is no financial risk to your facility even if the cardholder delays or defaults.

Reduce Administration Costs - Tendo Marketplace patients have no risk of bad debt or need for billing.

This guide is intended to help you manage Tendo Marketplace vouchers that patients present at their appointments, as well as to work with patients to purchase vouchers for procedures when it is relevant to your practice.