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Dan Karr founded Bedford-based ValChoice after a life-changing experience. While commuting to work one morning, he was hit by a car and admitted to the intensive care unit, where he began his recovery from broken ribs, a collapsed lung, three slipped vertebrae In the neck and a fractured hip. Having car and health insurance, and not being responsible for the accident, Karr thought everything would be covered. Instead, he was hit with nearly $100,000 in medical bills.
Eventually, Karr recovered the money and wrote about the experience in his book, "Injured Money." It was while writing the book that he came up with a solution: a grading system for consumers that brings transparency to the insurance industry. ValChoice, founded in 2013, has received five entrepreneurial awards since November 2015, most recently receiving the $120,000 Microsoft BizSpark Pius Award.
Q. Why didn't insurance cover your medical costs?
A. When I had my accident, my health insurance company didn't pay my medical bills, and I...