SAN FRANCISCO and CHICAGO, May 13, 2009 – Canopy Financial, a pioneer in innovative healthcare banking technology solutions that connect healthcare and financial services, announced today the release of their Mobile Consumer Directed Healthcare (CDH) Software Application for the Apple iPhone and iPod Touch. The new software, initially available for the Apple iPhone and iPod Touch, makes CDH significantly more accessible to consumers with Health Savings Accounts (HSAs), Health Reimbursement Accounts (HRA) and Flexible Spending Accounts (FSAs). Canopy’s Mobile CDH Application enables consumers to search medical procedures using keywords to determine if they are eligible to be paid using tax advantaged CDH spending accounts. Having sourced eligible procedures, Canopy’s Mobile CDH Application then maps local providers, and provides the customary cost of the procedure based on the consumer’s zip code.
“Canopy’s revolutionary new Mobile CDH Application offers consumers real-time access to information on medical procedure eligibility and customary cost in a local market, making healthcare and its associated costs significantly more transparent. For the first time, using Canopy’s leading-edge software, consumers can evaluate and negotiate procedure costs before agreeing to them in a provider’s office,” said Vik Kashyap, CEO of Canopy.
Details Of Canopy’s Mobile CDH Application
With millions of consumers currently using high deductible health plans (HDHPs) and health related spending accounts to reduce their overall health care costs, Canopy’s Mobile CDH Application for Apple iPhone and iPod Touch levels the medical expense playing field, allowing consumers real-time access to transparent information on which medical procedures are eligible for payment using tax advantaged CDH spending accounts and the customary cost of those procedures in a local market. The data is keyword searchable within Canopy’s Mobile CDH Application, and served up along with valuable CDH industry knowledge and information. Canopy’s new Mobile CDH Application features five separate Resource Tabs including:
- Medical Expense Locator – enables consumers to keyword search medical procedures to determine if they are eligible for payment using tax advantaged CDH spending accounts. After locating eligible procedures, Canopy’s Medical Expense Locator provides a procedure definition and map of local providers with contact information for appointment booking.
- Procedure Cost Analyzer — enables consumers to navigate medical procedures to determine the customary cost insurance carriers and employers generally pay for medical procedures reimbursed under a health insurance policy or health plan within a given zip code/market.
- CDH Account Login – provides consumers real-time mobile access to information on their tax advantaged CDH spending account, including account balance and transaction details.
- Real Time News Feed– provides consumers update news and information on the CDH industry, HSA account requirements/new provisions, and market trends.
- HSAInsider – provides a direct link into HSAInsider.com, the premiere resource for business and consumer HSA news, facts, and information. From HSAInsider.com, businesses and consumers can also download Canopy’s latest HSA Road Rules 2009 resource guide, and establish an HSA program that aligns with their individual needs.
Priced at $4.99 USD, Canopy’s Mobile CDH Application for the Apple iPhone and iPod Touch supports the latest 2.0 version and above functionality, and will be available starting Monday, May 18th via Apple’s iPhone App Store.