How to Protect Your Company from Financial Risk Due to High-Cost Claims

Nikki Ahlgren

September 12, 2024

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5min Read

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5min Read

How to Protect Your Company from Financial Risk Due to High-Cost Claims

The increasing cost of healthcare is creating serious financial risks for businesses across the board. High-cost claims, especially those related to transplants, oncology treatments, and advanced therapies like gene and cell therapy, are becoming more frequent and expensive.

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Escalating Costs for High-Cost Claims: Navigating the Rising Financial Burden of Transplants

The escalating costs of medical claims, especially for transplants, are putting increasing pressure on the healthcare system, forcing payers and providers to find more sustainable solutions.

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Risk Pinpointed: Elevate Your MGU Strategy with HealthRate

For Managing General Underwriters (MGUs), the ability to effectively manage catastrophic claims is a key differentiator in a highly competitive market. As healthcare costs continue to rise and catastrophic claims like transplants, oncology treatments, and advanced therapies grow more frequent, MGUs must implement smarter strategies to stay ahead.

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The Impact of Rising Premiums on Employers and How to Mitigate Financial Risk

The cost of healthcare premiums continues to rise, placing increasing pressure on employers across the United States. According to the Kaiser Family Foundation (KFF), the average annual premium for employer-sponsored family health coverage rose to $22,463 in 2023, marking a 7% increase over the previous year.

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Reducing the Administrative Burden of High-Cost Claims: A Smarter Way to Lower Costs

The financial pressures of managing high-cost claims like transplants, oncology treatments, and advanced therapies are well-known, but there’s another challenge that businesses face when dealing with these claims: the overwhelming administrative burden.

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