Consumers now have access to a new tool that helps manage their bills related to health insurance and other medical payments — Cake Health.
It’s like MINT, the popular financial management tool, but exclusive to your healthcare.
Cake Health helps consumers pilot through the complexities of insurance benefits, deductibles, network and out-of-network coverage, claims, medical bills, health savings accounts, and flexible spending accounts. The website also has a mobile iphone app that allows full access to a member’s health insurance plan and bills.
“Once a consumer signs up with Cake Health, getting started is easy. The new subscriber adds their insurance login information into their account and Cake Health does the rest. The service will monitor and analyze claims, dynamically update the policy information to reflect claims, insurance payments and deductible payments and search for potential billing mistakes like mismatched medications, double entries and other common errors.”
The actual website has a simple design, with only a few main headers that include blog, FAQ, jobs, and about. Descriptions are concise and there is even a short video that explains the concept behind Cake Health.
Some key features for consumers include the Money Manager, Plan Manager and Cake Health Mobile:
Cake Health Money Manager: This is a tool that searches for and gathers insurance benefit information and billing information from medical providers. Members of Cake Health will see their current coverage and in some cases, identify previously unknown benefits.
Cake Health Plan Matcher: This is a program that looks for healthcare plans based on a member’s actual healthcare spending patterns, individual requirements as well as their history.
Cake Health Mobile: This interesting features allows the consumer to take advantage of their iPhone’s camera. With Cake Health Mobile, members simply take a picture of their medical bills. The app reads the captured image and automatically populates the member’s account with the appropriate information. In fact, members can scan documents and forward them to Cake Health via email.
To view the original press release, please go to MarketWatch.