A specialty healthcare unit of
Ironshore Inc. announced last week the launch of a program designed to protect healthcare providers from financial risks linked to bundled payment contracts.
The news from IronHealth comes as the Centers for Medicare and Medicaid Services (CMS), as well as commercial payors and self-funded employers, are transitioning to bundled payment contracts in an effort to deliver higher quality care to their employees/members, while lowering the costs.
These contracts involve the provider accepting a flat rate for a designated service, like a knee replacement or bariatric surgery. For healthcare providers, that means accepting a great deal of financial risk if the services associated with that procedure cost more than the bundled payment.
Matt Dolan, president of IronHealth, celebrated the launch of the product as an efficient means of protection for US healthcare firms.
“IronHealth has created a two-tiered product that leverages a first dollar post-surgical complication cover via our BLISCare product with a Provider Excess of Loss limit into a single, seamless program that offers unparalleled financial risk protection for providers,” Dolan said.
Ironshore provides broker-sourced specialty property and casualty insurance coverages for varying risks on a global basis through multiple international platforms.
