WellRithms Publishes Groundbreaking White Paper: The Wait is Over - Guaranteed Protection from Balance Billing
09 Mayo 2024 - 9:00AM
Business Wire
WellRithms, the industry leading payment integrity firm, today
released a white paper revealing the ongoing challenges of balance
billing in healthcare and introducing a revolutionary captive
solution to shield health plan sponsors and members from financial
liability. “The Wait is Over: Guaranteed Protection from Balance
Billing” unpacks the attributes of a first-of-its-kind captive
insurance for group health and workers’ compensation plans that is
designed to transfer the risk exposure for excessive claims away
from payors and members.
“WellRithms’ Shield Indemnification™, backed by AMI Indemnity,
sets in place a legally defensible strategy to reprice individual
medical bills and fully absorb that risk,” says Ira Weintraub,
M.D., CMO, WellRithms. “Readers will learn the incredible value of
guaranteed protection from balance billing, relieving payors and
patients from the clutches of collection agencies and relentless
harassment.”
While captives have long been used for managing risk in various
industries, traditional captives do not effectively manage the risk
of individual medical bills, leaving payors and patients vulnerable
to balance billing. Attempts at indemnification against egregious
billing practices, such as Contractor Liability Insurance Programs
(CLIPs) and reference-based pricing (RBP), fall short in protecting
payors and members from financial liability.
“WellRithms substantially raises the bar on precision by
layering Shield Indemnification™ on top of its proprietary
repricing system, Sustainable Claims Pricing™,” continues Dr.
Weintraub. “This methodology ensures claims payment accuracy by
repricing medical bills line-by-line based upon various factors,
including hospital cost-to-charge ratios, geographical cost
variations and inflationary adjustments.”
WellRithms is the only payment integrity solution that
successfully tackles the ongoing tug of war between payors and
providers, extracting patients from the crosshairs of provider
attempts to increase reimbursements for medical services, ensuring
that providers have been paid appropriately.
Download the white paper here.
About WellRithms
WellRithms saves money for health plan sponsors by Leveling the
Paying Field™ between healthcare purchasers and providers. The
company serves group health and workers’ compensation payors who
seek the most advanced medical bill review system available, the
most precise repricing, and unsurpassed plan savings. WellRithms
Shield Indemnification™, backed by our insurance captive, sets
WellRithms apart by transferring full legal and financial liability
from the payor and participant to WellRithms, rendering balance
billing tactics, collections, and pressures to overpay ineffective
and unenforceable.
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Media: Nicole Dufour CPR Communications
ndufour@cpronline.com 201.641.1911 x 54