#1 Savvos Health

Get to know Savvos Health, the savvy healthcare marketplace that’s transforming the industry. 

   Founded in 2017 and based in American Fork, Savvos provides a world-class healthcare experience for patients, payers and providers with its state-of-the-art, digital health, fintech platform. Savvos boasts the nation’s largest cash-pay marketplace for outpatient procedures, imaging, maternal care and infused medicines. With its proprietary immediate cash pay settlement, Savvos saves patients, employers, self-funded plans and health shares 50-90% from contracted rates. 

Jake: As a business owner, every year, the cost of health insurance for my employees got more expensive, and I started to think, “This is getting ridiculous how much we’re spending.” I shared this frustration with Lou (who I’ve known for nearly 30 years now), and he said, “I’ve been thinking about this problem, and I’ve got some ideas about how we can reduce the cost of healthcare.”

He had this idea for creating the largest cash-pay marketplace of affordable, quality healthcare providers throughout the country. Cash is king, so we knew that if we could build this marketplace, we could bring down the cost of medical procedures. This became Savvos Health.

Lou: In this movement toward more transparent pricing in healthcare, there were tremendous amounts of data, but it was only telling one side of the story — that these are terrible prices. We needed useful, actionable data. Consumers needed the ability to connect with providers, and, in a matter of seconds, be able to compare prices for outpatient procedures like a knee ligament surgery (see photo above). Then, they could start making decisions based on useful information. 

The ability for Savvos to bring the stakeholders together to create a simple, engaging transaction — and to ensure that payers save money, patients have a much better experience, and providers are paid immediately — is where Savvos excels. We’re not health insurance, we’re not a health plan, we’re not a provider. We are the digital healthcare engine that makes cash pay work in a third-party payer environment, and it’s changing the industry.

Jake: Healthcare transactions involve providers, payers and patients, and all three of them win with Savvos. Providers get paid immediately, exactly what they ask for, because their best cash price is listed on Savvos. As well, each party knows exactly what the cost is before the procedure.

Our payers save over $30,000 on average for an outpatient procedure through our platform. That’s an incredible amount of savings! Their members have an amazing healthcare experience and typically have their out-of-pocket costs like deductibles waived. 

Once prices are in the open, nobody will spend $4,000 for an MRI when they could get it for $400 down the street. We’re seeing a dramatic change in the market where prices are starting to come down, which is really exciting.

Lou: I can’t think of a better legacy than Savvos Health to leave behind. If you think of all the things Americans struggle with, the enormous cost of healthcare is top of the list of problems we can solve. That’s what gets me more excited than anything —  how effectively we are transforming the healthcare transaction.

Jake: Many Americans are not getting the care they need because they can’t afford to, so we set out with a purpose to make healthcare affordable for everyone, and every decision we make brings us one step closer to making our vision a reality.