ITASCA, IL (September 19, 2016) – LaunchPoint division Discovery Health Partners, a provider of payment integrity and population risk management solutions for healthcare payers, is named a top 100 finalist in the Chicago Innovation Awards. Chosen out of a record-breaking 643 entries, Discovery Health Partners’ Medicare Secondary Payer (MSP) Validation Solution is honored for its work helping Medicare Advantage plans recoup millions of dollars to their bottom lines by ensuring member healthcare premiums paid by Centers for Medicare and Medicaid Services (CMS) are accurate. In addition to restoring $148 million across 27 health plans in the last three years, Discovery Health Partners’ innovation has helped clients optimize future revenue by correcting inaccurate eligibility information so that plans receive correct premiums and pay claims correctly in the future.
As part of the honor, Discovery Health Partners is invited to participate in The Practical Innovator, an executive education program at Northwestern’s Kellogg School of Management. The top 25 finalists will be awarded at the 15th annual Chicago Innovation Awards on October 25th.
“Our solutions bring revenue protection to our clients. By studying the problem, identifying roadblocks in the process, and redesigning the process to address those challenges, we have achieved near perfect success at restoring underpaid premiums on behalf of our clients,” said Paul Vosters, president, Discovery Health Partners. “We saved one major healthcare plan $32 million within a three-to-six month period by restoring underpaid premiums.”
With a core team of experts in healthcare payer payment integrity, Discovery Health Partners developed a set of software solutions that reside on its proprietary Healthcare Analytics Platform. The MSP Validation solution is often delivered as an outsourced business process with Discovery experts managing the entire process on behalf of the client. According to Vosters, this has led to a 99 percent success rate restoring premiums for clients. Clients can also subscribe to the service as cloud-based software to manage the MSP process in-house, with their own staff.
About Discovery Health Partners
Discovery Health Partners is a division of LaunchPoint, a provider of payment integrity and risk management software, solutions, and services for healthcare organizations. We offer a unique combination of deep healthcare expertise and powerful technology solutions to help our clients drive improved payment integrity and risk management with measurable results. LaunchPoint has been named one of the fastest growing private companies in the U.S. for the third year in a row, according to Inc. Magazine’s annual Inc. 5000 list, including a ranking of #100 in 2014. Most recently, the company was ranked the #4 fastest growing company in Chicago by Crain’s Chicago Business. More information is available at www.launchpointcorporation.com andwww.discoveryhealthpartners.com.