MedPic excels at obtaining substantial discounts for its clients. Detailed below are a few examples, out of thousands, of the significant savings MedPic has negotiated.
A full service medical cost containment, disease management and case management company located in Georgia engaged MedPic to be its main claims negotiator. This company provided services to a number of regional third-party administrators (TPAs) and stop loss carriers. Over the 2 1/2 year period of working with them, MedPic negotiated $15,754,773.80 of reductions in the claim amounts the TPAs otherwise would have paid. 100% of these negotiated amounts were obtained via signed agreements with the providers/facilities. By obtaining signed agreements, none of these savings were subject to reconsideration or future reversals. The negotiations included in-network and out-of-network claims and reductions in the cost of future treatment regimens.
A member of a self-insured Missouri based professional services firm suffered a major brain injury, resulting in 7 claims with a total billed amount of $1,095,923.66. The TPA’s discounts reduced the allowed amount to $584,089.86. MedPic was brought in and negotiated additional savings of $435,271.57. This reduced the total bill for the 7 claims all the way down to $148,818.29. The average turnaround time on the claims negotiation was 6 days.
A dialysis patient of a Kansas based school district would have incurred claims totaling $1,923,234.51 without MedPic’s involvement. Through negotiation of both the claims already incurred and an agreed to price for future treatments, MedPic reduced the charges for 190 claims to $1,183,421.09, saving the client $739,813.42.
An individual CPA in Wisconsin approached MedPic about several bills he had received for a neurological surgery he had undergone. Over an 8 month period, MedPic worked with the CPA’s insurer and the provider/facilities to negotiate the appropriate insurance reimbursement and payment for these services. MedPic was able to reduce the CPA’s patient responsibility from $30,908.65 to $0.
An employee of an Indiana based molding company was treated for a malignant tumor, resulting in 3 claims that would have been paid at $59,944.16 per the TPA’s discounts. Within 7 days, MedPic obtained a signed negotiation reducing the payable amount down to $41,900.91, for a 30% savings.