Question

Topic: Taglines/Names

Need Name For Software That Reprices Medical Bills

Posted by Anonymous on 11/8/2007 at 12:49 AM ET 250 Points
Hi to All - I am a Small Business owner and have developed a software that payors (insurance carriers, PPO networks, reinsurers, employers, even public consumers) of medical bills can utilize online to instantly analyze and reprice their claims to a fair and reasonable rate. Medical costs are sky-rocketing and the current reimbursement mindset is based on usual customary "charges" - this product utilizes data amassed from over 20 million claim transactions to benchmark to actual reimbursement data for the provider, area and state. Plans call for rolling out to corporate clients initially to generate revenue, then to a website for consumers to access. (Wouldn't it be nice to know ahead of time how much your scheduled gall bladder operation is going to cost at Hospital A vs Hospital B?)

Problem is I can't decide upon a name for this software product. Here are some pertinent adjectives / characteristics:

Innovative, instant, online, specialty medical review, unique, analysis of medical charges, benchmarked results, applicable to all claim types (health, workers' comp, auto injury claims, etc.)

MedView, MedClaim (the first off the tongue names) are in use are have been taken. I am looking for the next "Google" or "Skype"....no pressure there.

Any input and direction will be greatly appreciated by this left-brain dominant alpha male. Thanks in advance!
To continue reading this question and the solution, sign up ... it's free!
SUBSCRIBE
Or, SIGN IN

RESPONSES

  • Posted on 11/8/2007 at 3:16 AM Accepted
    CompraMed
  • Posted by donw on 11/8/2007 at 9:30 AM Accepted
    FairPay

    Claim Check

    MedCheck

    ReClaim

    Hippocrates
  • Posted on 11/8/2007 at 4:02 PM Author
    Thanks to all submitters. I am having a most difficult time pulling the trigger on the final selection. No particular name stands out to me. Please advise on how to research, evaluate, test, etc. or whatever process the big boys would undertake with such a naming dilemna. I appreciate your time and effort.
  • Posted by donw on 11/8/2007 at 8:21 PM Member
    In response to your last post:

    I have worked on dozens of naming projects.

    In my opinion, there is nothing more difficult for an "outsider" to do.

    It's like trying to name someone else's baby. You can never pick a name that's good enough.

    Your reference to Google and Skype makes my point. Those names say nothing about what the company or its products do. It's just a quirky name.

    You can expend the effort to do outside evaluation and testing -- but in my opinion, that won't tell you much.

    My suggestion: Hire two good advertising writers--three if you can afford it (I'm happy to offer suggestions) and give them the assignment. Brief them thoroughly and make your naming criteria clear. Send them away to generate their lists. Ask for them to indicate their two or three favorites and a rationale for each. You should also make it clear upfront that you expect to receive the entire list they've generated, given that naming is entirely subjective and there may be one from their list of rejects that you'll find interesting.

    Although I poo-poohed testing earlier, test the names if you want. Informally (doesn't cost much) or formally (costs much) if you feel that you need the research to raise your comfort level.

    If from that you still have nothing, then I would say it's time to review your naming criteria.

    Good luck,

    Don W
  • Posted by The Radial Group on 11/8/2007 at 9:00 PM Accepted
    My firm works exclusively with health and wellness businesses, and we've advised several healthcare software developers, in fact.

    Most of these names would be fine. Frankly, the name doesn't matter that much as long as it's straightforward and professional. This market doesn't appreciate cute, clever, hyphenated, etc.

    The key issue is whether your business model actually works. Your idea is not unique and you're late in bringing it to market. For example, the big carriers are already launching this capability (Cigna and Aetna, for example). The growth of consumer-directed health policies has been much slower than expected as well, reducing current demand for your product.

    I'm also skeptical that employers are the right target market.

    One other caution - plan on a significant sales and marketing investment, whether you're selling to employers, insurance carriers, or whatever. The sales cycle for this kind of product is long, relatively complex, and generally requires face-to-face contact over multiple meetings.

    I don't want to burst your balloon - just alerting you to some potential challenges. Feel free to check out our website for a free weekly newsletter with business tips for health and wellness companies plus hundreds of articles on successfully building and managing health and wellness businesses.

    Good luck!

    Leslie Nolen
    President
    The Radial Group
    Business expertise for health & wellness
  • Posted on 11/12/2007 at 9:05 AM Author
    Thanks again to everyone. I have such a tremendous respect for your profession, the ability to create on demand somehow eludes me. After informally "testing" the submitted names (asked my family and friends what they thought) I still haven't found the name for me.

    The name ReClaim is the one that was most generally liked, however is not available for TM or domain.

    I appreciate your input.

    Kevin
BACK TO TOP

Post a Comment

Related Discussions

Community Info

Top 25 Experts
(Taglines/Names)