Pharmiweb ChannelsAll | PharmaCo | Clinical Research | R&D/BioTech | Sales/Mktg | Healthcare | Recruitment | Pharmacy | Medical Comms

Pharmiweb.com RSS Feed Pharmiweb.com RSS Feeds

Advertising

Press Release

New White Paper Discusses True Cost of Future Medical Care for Medicare Set Asides

Care Bridge International
Posted on: 18 Jul 18
New White Paper Discusses True Cost of Future Medical Care for Medicare Set Asides Workers' Compensation Medicare Set Asides (WCMSAs) have become a standard feature in settling workers' compensation claims over the past fifteen years. This year an estimated 26,000 workers' compensation claims might be submitted to the federal government. We present new evidence that strongly suggests that this voluntary process of submission predictably and excessively inflates the cost of claims, leaving the claims payer worse off compared to not submitting a set conventional Medicare Set Aside forecasts are highly likely to greatly overstate actual medical spend. For claims payers who are concerned about the burdens of Set Asides, this problem and its solution are top news.

PR Newswire

LAKEWOOD RANCH, Fla., July 18, 2018

LAKEWOOD RANCH, Fla., July 18, 2018 /PRNewswire/ -- Care Bridge International, a data analytics firm, today announced a new white paper that uses a massive claims database to estimate the true exposure of future medical treatment and costs in Medicare Set Asides for Workers Compensation claims.  The white paper shows that conventional Set Aside practices greatly inflate costs to claims payers, by as much as unnecessarily doubling the cost of Set Asides.   

Workers compensation claims payers put over $2 billion a year in Medicare Set Asides.  Payers have historically relied upon a cottage industry to use an optional, time-consuming subjective method for Medicare Set Aside compliance.  Claims payers have long suspected that this method can over-budget for medical expenses. For the first time, big data analytical tools applied by Care Bridge confirm that the conventional method does greatly inflate Set Aside costs.  It also creates unnecessary administrative burdens.

Titled, "Medicare Set-Asides: What is the True Cost of Future Medical Care?" this white paper shows the power of massive claims database analysis to deliver an innovative, efficient and cost saving method to comply with Set Aside rules.

"With the billions of of medical claim transaction data available to carriers and payers, it is more important than ever for organizations to acquire the tools and technologies necessary to gain business advantage from data," said Deborah Watkins, CEO, Care Bridge International, Inc. and its wholly owned subsidiary, MSP Compliance Bridge, LLC. "We believe that Property and Casualty Insurance companies need to understand and enable the insights available to them through the power of big data analytics for risk management and improved claims decision-making."

To download a complimentary copy of the Press Release and White Paper, visit https://carebridgeinc.com/big-data-analysis-of-the-actual-costs-of-future-medical-claims-involving-medicare-secondary-payer-workers-compensation-medicare-set-asides/ 

For more information, press only:

Deborah Watkins, CEO
Direct: 941-564-7575
Email: 198770@email4pr.com

For more information on Product: https://www.carebridgeinc.com/DEMO 

View original content with multimedia:http://www.prnewswire.com/news-releases/new-white-paper-discusses-true-cost-of-future-medical-care-for-medicare-set-asides-300682778.html

SOURCE Care Bridge International

PR Newswire
www.prnewswire.com

Last updated on: 18/07/2018

Advertising
Site Map | Privacy & Security | Cookies | Terms and Conditions

PharmiWeb.com is Europe's leading industry-sponsored portal for the Pharmaceutical sector, providing the latest jobs, news, features and events listings.
The information provided on PharmiWeb.com is designed to support, not replace, the relationship that exists between a patient/site visitor and his/her physician.