MultiPlan and ECHO Health Partner to Drive Health Plan Administrative Costs Down
20 6월 2023 - 9:00PM
Business Wire
Creates market-leading offering by combining
the claim pricing and payment capabilities of two industry
leaders
MultiPlan Corporation (NYSE: MPLN) (“MultiPlan”), a leading
provider of technology and data-enabled cost management, payment,
and revenue integrity solutions to the U.S. healthcare industry,
and ECHO Health, Inc. (“ECHO®”), today announced a partnership that
combines the services of each company to offer simplified, more
cost-effective claim processing for third-party administrators,
insurers, and other healthcare payors.
With over 40 years of experience, MultiPlan’s cost management,
payment, and revenue integrity services reduce the cost of care by
$22 billion annually on behalf of over 700 healthcare payors and
their more than 100,000 employer customers. MultiPlan processes
over $155 billion in claim charges annually through a broad range
of editing, pricing, negotiation, and payment integrity
applications. ECHO is a longstanding market leader in healthcare
payments, processing more than 500 million provider payments per
year for over 350 payors and an estimated 100,000 employer
customers with electronic connectivity to over 900,000 unique
providers.
“This partnership enables us to reduce overall administrative
costs by offering our customers and providers easy access to
provider payment services from a company with decades of experience
and the scope and scale to make a lasting impact on the industry,”
said Dale White, President and CEO of MultiPlan. “Our companies
share a philosophy that our customers are better served when their
health plan members’ providers also are valued. ECHO’s
provider-forward payment services and recent innovations in
combating payment fraud make them the ideal partner for
MultiPlan.”
Administrative costs account for between 15 percent and 30
percent of U.S. healthcare spending. The Peterson Foundation
estimates that the U.S. spends $1,055 per capita on administrative
costs, more than three times as much as the next highest
country.
Through a single platform, ECHO delivers payments and
remittances to providers from over 350 payors, supporting a wide
array of remittance formats and payment modalities. The platform
employs proprietary filters and processes to guard against payment
fraud, a growing issue that is estimated to impact up to 80% of
provider organizations. ECHO also manages all reconciliation,
exception handling, and payor reporting, including 1099 filing.
“ECHO has joined forces with a company that matches our scope
and reach to help our customers manage not only their
payments-related administrative costs, but also their total cost of
care through better pricing for out-of-network claims,” added ECHO
President Tom Dean. “We also see tremendous value for our customers
in marrying their payments data with their claims data to deliver
industry-leading, actionable intelligence through MultiPlan’s Data
& Decision Science services.”
Under the joint marketing and services agreement, MultiPlan
enhances its claim pricing services by adding payment processing of
healthcare provider claims as well as payments made to other
service providers. MultiPlan also now has the ability to extend
payment processing services to payors that price their own claims.
ECHO extends its service portfolio to include out-of-network cost
management and decision science services.
About MultiPlan
MultiPlan is committed to delivering affordability, efficiency,
and fairness to the US healthcare system by helping healthcare
payors manage the cost of care, improve their competitiveness and
inspire positive change. Leveraging sophisticated technology, data
analytics and a team rich with industry experience, MultiPlan
interprets customers’ needs and customizes innovative solutions
that combine its payment and revenue integrity, network-based, and
analytics-based services. MultiPlan is a trusted partner to over
700 healthcare payors in the commercial health, government, and
property and casualty markets. For more information, visit
multiplan.com.
About ECHO Health, Inc.
ECHO® is a technology company focused on removing complexity and
costs from payment processing. ECHO saves its customers over $1
billion per year through comprehensive management of the claim
payment process and providing access to the ECHO Payment Network,
the industry’s largest network of insurers and service providers.
ECHO settles over 500 million claims and distributes over $130
billion in payments securely across the ECHO Payment Network
annually; and proprietary ECHO technology keeps policyholders and
service providers happy by ensuring payments are sent in the manner
they prefer. For more information, visit echohealthinc.com.
Forward Looking
Statements
This press release contains forward-looking statements. These
forward-looking statements can generally be identified by the use
of forward-looking terminology, including the terms “believes,”
“estimates,” “anticipates,” “expects,” “seeks,” “projects,”
“forecasts,” “intends,” “plans,” “may,” “will” or “should” or, in
each case, their negative or other variations or comparable
terminology. These forward-looking statements include all matters
that are not historical facts, including MultiPlan’s expectations
and beliefs with respect to the partnership with ECHO and the
impact of such partnership. The forward-looking statements are made
pursuant to the Safe Harbor provisions of the Private Securities
Litigation Reform Act of 1995 and speak only as of the date they
are made. Any forward-looking statements that we make herein are
not guarantees of future performance and actual results may differ
materially from those in such forward-looking statements as a
result of various factors. Factors that may impact such
forward-looking statements also include the factors discussed under
“Risk Factors” in the Company’s Annual Report on Form 10-K for the
fiscal year ended December 31, 2022; and other factors beyond our
control. Should one or more of these risks or uncertainties
materialize, or should any of the assumptions prove incorrect,
actual results may vary in material respects from those projected
in these forward-looking statements. The Company’s periodic and
other filings are accessible on the SEC’s website at www.sec.gov.
We undertake no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230615558427/en/
Investor Relations Luke Montgomery, CFA SVP, Finance
& Investor Relations MultiPlan 866-909-7427
investor@multiplan.com
Shawna Gasik AVP, Investor Relations MultiPlan 866-909-7427
investor@multiplan.com
Media Relations Pamela Walker AVP, Marketing &
Communication MultiPlan 781-895-3118 press@multiplan.com
Churchill Capital Corp III (NYSE:MPLN)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Churchill Capital Corp III (NYSE:MPLN)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024