Blackwell Captive Solutions and WellRithms Collaborative Partnership Helps Self-Insured Companies Mitigate Risk, Reduce Financial Burdens of High-Cost Medical Claims
September 17 2024 - 10:00AM
Blackwell Captive Solutions, a leading provider of innovative
captive solutions and WellRithms, the industry leading payment
integrity firm, today announce a strategic relationship that
integrates Blackwell’s cutting-edge stop-loss captive solutions
with WellRithms’ advanced medical bill review and payment integrity
services to support stakeholders throughout the self-insurance
industry with a comprehensive solution. This innovative approach is
designed to diminish risk and better manage high-cost medical
claims for complex and chronic conditions like cancer,
cardiovascular diseases and neonatal care that quickly escalate
into millions of dollars and pose a substantial threat to the
sustainability of self-insured health plans.
In a joint message to the marketplace, Anna Quarum,
president, WellRithms and Kari L. Niblack, Esq., president,
Blackwell, say, "Our partnership is focused on delivering concrete
results for self-insured employers. By integrating Blackwell’s
state-of-the-art captive solution with WellRithms’ precise bill
review, defensible repricing, and claim indemnification, we are
setting new standards in risk management. This collaboration
empowers employers to protect their health plans from high-cost
claims and reduce the financial pressures that drive up
premiums."
The partnership leverages Blackwell’s innovative
three-layered stop-loss coverage model which provides a floating
$250,000 layer of protection above a self-insured client’s specific
deductible. WellRithms plays a crucial role by applying advanced
repricing algorithms, alongside the expertise of its experienced
team of physicians and surgeons, to meticulously review medical
bills and reprice claims. This combination reduces illegitimate
facility and physician charges by an average of 72%, significantly
lowering healthcare costs and ensuring more affordable
self-insurance options.
“Collectively, our companies not only enhance the
services that each provides, but also, set the stage for upcoming
marketing opportunities that support brokers, TPAs, consultants and
other participants in the self-insured industry,” says Bill
Mattecheck, chief sales officer and national director of broker
relations, WellRithms. “The WellRithms’ relationship with Blackwell
exemplifies our spirit for forging innovative partnerships in the
marketplace, offering unmatched protection against balance billing
and legal risks for clients. It creates a double-win by potentially
returning premium surplus to clients at the end of the plan year—an
unprecedented value proposition in the industry.”
Kari Niblack and Anna Quarum, along with fellow
panelists, will address the future of captive solutions and how
best to partner with a captive solution during the upcoming SIIA
National Conference, September 24, 2024, from 10:15 AM to 11:30 AM
MST. The session, Partnering with Stop-Loss Group Captive Programs
– A Business Development Primer, explores the fast-growing
stop-loss group captive programs segment, providing critical
insights for TPAs, brokers/advisors and specialty service providers
on how to position and price their services effectively in this
expanding market. Attendees are also invited to visit WellRithms’
booth (#703) at the event.
To schedule a meeting during the event, please
contact Bill Mattecheck at bmattecheck@wellrithms.com.
About WellRithms WellRithms saves
money for health plan sponsors by Leveling the Paying Field™
between healthcare purchasers and providers. The company serves
group health and workers’ compensation payors who seek the most
advanced medical bill review system available, the most precise
repricing, and unsurpassed plan savings. WellRithms Shield
Indemnification™, backed by our insurance captive, sets WellRithms
apart by transferring full financial liability from the payor and
participant to WellRithms, rendering balance billing tactics,
collections, and pressures to overpay ineffective and
unenforceable. Visit www.wellrithms.com.
About Blackwell Captive Solutions
Blackwell Captive Solutions is a leading provider of innovative
captive solutions and empowers businesses to optimize their risk
financing strategies by designing and implementing customized
captive solutions that align with their unique risk profiles and
business objectives. Headquartered in Chicago, Illinois, Blackwell
Captive Solutions serves a diverse portfolio of clients across
various industries, offering comprehensive services in captive
formation, management, and consulting. Learn more
at BlackwellCaptive.com.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/3006305a-2858-4b60-a648-25f151a87b1b
Media:
Nicole Dufour
CPR Communications
ndufour@cpronline.com
201.641.1911 x 54