NEW YORK–(COMMERCIAL THREAD) –MultiPlan Company (NYSE: MPLN), a leading provider of technology-based data analytics and cost management solutions, as well as payment and revenue integrity solutions for the U.S. healthcare industry, announces its new end-to-end surprise billing service to help healthcare payers soon become compliant with the No Surprises Act. With new requirements that come into effect on January 1, 2022, MultiPlan is ready to help its customers navigate the new regulations with the launch of its No Surprises Act Knowledge Hub, a comprehensive resource center that offers the latest NSA developments and answers frequently asked questions.
MultiPlan’s end-to-end surprise billing service provides healthcare payers with easy-to-implement solutions to help them comply with new regulations. Building on its existing services and expertise, MultiPlan’s end-to-end service covers the entire lifecycle of a surprise invoice, from identifying surprise invoices to managing complaints and handling them. arbitration:
- Identify surprise invoices: MultiPlan examines bill codes, facility network status, and care episodes for both payor networks and their own to identify surprise bills.
- Calculate and add QPA: MultiPlan calculates the Eligible Payment Amount (QPA) and includes it in processed claims, making the claims settlement process easier.
- Price and modify claims: MultiPlan may change the price and modify claims using any combination of its services to determine a fair off-grid amount that providers are likely to accept.
- Negotiate the regulations: Suppliers who do not accept upfront payment will contact MultiPlan to start the negotiation process. We leverage technology, data and experienced staff to negotiate a settlement.
- Arbitrate: When settlement is not reached, MultiPlan can handle the independent dispute resolution process from start to finish. To determine a final offer, MultiPlan can analyze data from millions of complaints, actual installation costs and more to get the best result.
MultiPlan can administer the entire process or work with clients to tailor a solution to their specific needs, giving payers the flexibility they need to comply.
“The new requirements of the No Surprises Act are fast approaching and have a significant operational impact on payers and healthcare providers, âsaid Dale White, President and COO of MultiPlan. “While the law adds a new level of complexity to paying health care claims, the fundamentals are nothing new to us. MultiPlan has supported its clients with many of these services for years. With expertise every step of the way, we can administer the entire No Surprises Act process on behalf of our clients or tailor solutions for their specific needs to drive compliance.
“With the rules in writing, we are moving towards enforcement, without much time for the industry to absorb, let alone implement changes to comply with the new regulations, âsaid Colleen Dempewolf, Director of MultiPlan, strategic product development. “Our experts have closely followed all aspects of the law to help our clients adapt to changes and develop solutions that make it easy for them to comply. We know they face tremendous pressure to adapt to these and other regulatory changes that are expected to come into effect simultaneously at the start of the new year and we hope to ease this burden with reliable solutions and expertise. they can count on.
MultiPlan’s announcement today continues the company’s proactive response to the No Surprises Act and builds on the steps it is taking to help healthcare payers navigate an increasingly regulatory environment. complex, including:
- No Surprises Act Knowledge Hub: With some No Surprises Act requirements coming into effect in January, now is the time for the industry to finalize compliance plans. New from MultiPlan No Surprises Act Knowledge Hub is designed to help healthcare organizations navigate new regulations with answers to frequently asked questions and an overview of solutions.
- No Surprises Act webinar series: MultiPlan also hosted a comprehensive webinar series for clients to explain the law, its implications, and what healthcare payers need to do to prepare for its implementation. With experts from a leading law firm, the webinar series provides a detailed overview of the No Surprises Act, the independent dispute resolution process, the external review process, disclosure requirements and implementing provisions.
MultiPlan is well positioned to help clients comply with the new rules and regulations of the No Surprises Law before the required deadlines. By using a combination of existing and new services, MultiPlan customers can reduce the number of surprise invoices and be prepared to strategically negotiate refunds when they arise. For more information on MultiPlan’s surprise billing and transparency solutions, please visit their Knowledge center.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. These statements often include words such as “anticipate”, “expect”, “suggest”, “plan”, “believe”, “intend”, “plan”, “foresee”, “estimate” , âTargetsâ, âprojections,â should â,â could â,â could â,â could â,â could â,â could âand other similar expressions relating to MultiPlan’s response to the No Surprise Act , including its end-to-end surprise billing service. Although the Company believes that these forward-looking statements are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect these forward-looking statements. These forward-looking statements are based on current expectations which are subject to known and unknown risks and uncertainties.
Factors that may affect these forward-looking statements include the factors discussed under âRisk Factorsâ in the Company’s annual report on Form 10-K for the year ended December 31, 2020 and the Company’s quarterly reports on form 10-Q for the quarter ended March 31, 2021, June 30, 2021 and September 30, 2021, as these risk factors may be updated from time to time in the Company’s periodic and other files with the SEC . The Company’s periodic and other documents are available on the SEC’s website at www.sec.gov. You should not rely on forward-looking statements as predictions of future events. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that future results, levels of activity, performance and the events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by applicable law, the Company does not undertake to publicly update any forward-looking statements for any reason after the date of this press release in order to conform such statements to actual results or to changes in business. our expectations.
MultiPlan is committed to helping healthcare payers manage the cost of care, improve their competitiveness and inspire positive change. Leveraging sophisticated technology, data analytics and a team of rich industry experience, MultiPlan interprets customer needs and customizes innovative solutions that combine its payment integrity and revenue-based services. network-based and analytics-based. MultiPlan is a trusted partner of more than 700 healthcare payers in the commercial healthcare, government, and property and accident markets. For more information visit www.multiplan.com.