MSP Recovery Announces LifeWallet Implementation Program at Cano Health Medical Centers
August 04 2022 - 9:45PM
MSP Recovery, Inc. (NASDAQ: MSPR) (“MSPR”, “MSP Recovery” or the
“Company”) a Medicare, Medicaid, commercial, and secondary payer
reimbursement recovery and technology leader, today announced that
LifeWallet Powered by MSP Recovery is going to pilot its Health
Safety Technology program at Cano Health (NYSE: CANO).
Cano Health delivers personalized, value-based primary care to
more than 270,000 members and operates primary care medical centers
for seniors and supports affiliated providers in eight states and
Puerto Rico.
The program implementation will encompass a pilot of the
LifeWallet portal at one of Cano Health’s locations in South
Florida. It will allow for both Cano Health and its patients to
identify, in real-time, prior medical and pharmaceutical history as
well as payer information to verify the correct payer(s)
financially responsible for the services provided. The integration
is expected to provide even greater efficiency for Cano Health and
may lead to incremental clinical benefits while reducing costs.
LifeWallet, powered by MSP Recovery’s sophisticated data
analytics, launched in January and was initially designed
to help first responders and healthcare providers to quickly and
easily access patient medical histories when they are needed most.
As MSPR was developing LifeWallet, it was discovered that the data
being captured could also provide substantial additional benefits
to patients, providers and payers across the country. LifeWallet
enables informed decision-making and improved patient care to help
save lives.
LifeWallet will incorporate its Health Safety Technology for
Cano Health, including biometric (facial recognition) check-ins,
through a pilot program that includes the integration of LifeWallet
technology to prevent improper documentation of medical
information, which often leads to improper billing. LifeWallet may
help Cano thereby prevent fraud, waste, and abuse.
LifeWallet is also part of MSP Recovery’s “Chase to Pay”
platform, providing real-time analytics at the point of care,
helping identify the primary insurer, assisting providers in
receiving reasonable and customary rates for accident-related
treatment, shortening MSPR’s collection time frame, and increasing
revenue visibility and predictability.
“We’re honored to implement LifeWallet at Cano Health,” said
John H. Ruiz, Founder and CEO of MSP Recovery. “A growing number of
leading healthcare providers and their patients see the value of
using LifeWallet to locate, organize and easily access medical
records stored across multiple platforms,” he said. “Our vision for
LifeWallet is clearly resonating across the healthcare industry.
The growth of LifeWallet has far exceeded our expectations.”
“We are focused on making healthcare more connected and
accessible,” said Dr. Marlow Hernandez, Co-Founder, Chairman, and
CEO of Cano Health. “I’m enthusiastic about piloting this
technology at one of our centers and finding ways that we can
integrate it into our care delivery system. We pride ourselves on
leveraging cutting-edge technology, and LifeWallet has the
potential to make a significant impact for our patients.”
About MSP Recovery
Founded in 2014, MSP Recovery has become a Medicare, Medicaid,
commercial, and secondary payer reimbursement recovery leader,
disrupting the antiquated healthcare reimbursement system with
data-driven solutions to secure recoveries against responsible
parties. MSP Recovery provides the healthcare industry with
comprehensive compliance solutions, while innovating technologies
to help save lives. For more information,
visit: www.msprecovery.com
About Cano Health
Cano Health (NYSE: CANO) is a high-touch, technology-powered
healthcare company delivering personalized, value-based primary
care to more than 270,000 members. With its headquarters in Miami,
Florida, Cano Health is transforming healthcare by delivering
primary care that measurably improves the health, wellness, and
quality of life of its patients and the communities it serves.
Founded in 2009, Cano Health has more than 4,000 employees, and
operates primary care medical centers and supports affiliated
providers in eight states and Puerto Rico. For more information,
visit canohealth.com or investors.canohealth.com.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws. Forward-looking
statements may generally be identified by the use of words such as
"anticipate," "believe," "expect," "intend," "plan" and "will" or,
in each case, their negative, or other variations or comparable
terminology. These forward-looking statements include all matters
that are not historical facts. By their nature, forward-looking
statements involve risks and uncertainties because they relate to
events and depend on circumstances that may or may not occur in the
future. As a result, these statements are not guarantees of future
performance or results and actual events may differ materially from
those expressed in or suggested by the forward-looking statements.
Any forward-looking statement made by MSP Recovery herein speaks
only as of the date made. New risks and uncertainties come up from
time to time, and it is impossible for MSPR to predict or identify
all such events or how they may affect it. MSPR has no obligation,
and does not intend, to update any forward-looking statements after
the date hereof, except as required by federal securities laws.
Factors that could cause these differences include, but are not
limited to, MSPR’s ability to capitalize on its assignment
agreements and recover monies that were paid by the assignors;
litigation results; the validity of the assignments of claims to
MSPR; the ability to successfully expand the scope of MSPR’s claims
or obtain new data and claims from MSPR’s existing assignor base or
otherwise; MSPR’s ability to innovate and develop new solutions,
and whether those solutions will be adopted by MSPR’s existing and
potential assignors; negative publicity concerning healthcare data
analytics and payment accuracy; and those other factors included in
MSPR’s Annual reports on Form 10-K, Quarterly Reports on Form 10-Q
and other reports filed by it with the SEC. These statements
constitute the Company's cautionary statements under the Private
Securities Litigation Reform Act of 1995.
For Media:
ICR, Inc.
MSP@icrinc.com
For Investors:
ICR, Inc.
Marc Griffin
Marc.Griffin@icrinc.com
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