Dive Brief:
- Ironshore Inc. has announced a new program aimed at protecting healthcare providers from the financial risks of bundled payment contracts.
- The effort comes as many players across the health insurance industry, from the Centers for Medicare and Medicaid Services, to commerical plans and self-funded employers, are moving to bundled payment contracts to control costs.
- Matt Dolan, president of Ironshore unit IronHealth, positions the program as an efficient form of protection for U.S. healthcare firms.
Dive Insight:
The solution could be intriguing to healthcare providers embarking on bundled payment contracts, in which they accept a flat rate for a designated service—and a certain amount of financial risk, if the services end up costing more than the payment.
"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 Inc. provides broker-sourced specialty property and casualty insurance coverages through its multiple international platforms.