Learn How a Settlement Recovery Service Can Help You and Your Organization
5.31.2018 By Sam Wares, VP of Settlements at MCAG
Countless businesses and healthcare organizations miss out on their portion of available settlement proceeds each year. On average, only about 20% of eligible entities collect their share of any given settlement fund. In many cases, the proceeds represent a significant amount that is added right to your bottom line. While settlements vary, one constant is that a claim must be submitted in order to collect any money. This is where a Settlement Recovery Service can help.
Settlements come in many forms and cover a variety of issues. Frequently seen types of settlements include:
- Healthcare (e.g. insurance claims were not paid correctly)
- Product anti-competition (manufacturers engaged in antitrust, price-fixing, etc.)
- Pharmaceutical (e.g. an organization overpaid for drugs purchased on behalf of its employees)
- Financial (e.g. merchants overpaid credit card interchange fees, financial markets were manipulated by large banks)
A Settlement Recovery Service focuses on the following in order to ensure that your organization can take advantage of these unique opportunities that result from class actions:
- First, the service includes searching for settlement opportunities applicable to your organization. This relieves you from having to pay any attention to legal notifications that you may receive related to settlements, and more importantly, wondering if you missed any notices.
- Provides guidance and assistance in retrieving the applicable documentation and information for any given settlement opportunity.
- Prepares any required forms and ensures an accurate and timely submission of your claims.
- Coordination with settlement administrators to reconcile and distribute the appropriate recovery under the terms of the settlements. A settlement administrator is the entity appointed for a settlement that reviews, approves, and distributes payments of settlement claims.
Healthcare organizations are amongst the greatest beneficiaries of assistance with class action settlement claims, because they are eligible for a multitude of settlements and settlement types. Healthcare settlements are, of course, relevant and can be very profitable, depending on volume and access to data. Other settlements can also be profitable for healthcare organizations, and often require no more effort from your staff.
Availity is offering a Class Action Settlement Recovery Service through our strategic partnership with Managed Care Advisory Group, LLC (MCAG). Click here for more information on MCAG’s SRS, current settlements, or to enroll in this valuable and unique service, which is offered on a contingent fee basis without any upfront fees.
MCAG is an expert in obtaining money for healthcare organizations from class action settlements via our Settlement Recovery Service (SRS) on a no risk, contingent fee basis. We have experience and credibility in getting the most for your claim with the least effort on your part. MCAG represents thousands of medical providers, and more than one thousand hospitals, ranging from the nation's largest systems to critical access hospitals. We have distributed hundreds of millions of dollars to our clients from our SRS.
Via our vast database, MCAG is unique in our ability to construct optimal claims even when limited information is supplied by clients. We shepherd the claim through the process with the settlement administrators, and support the claim through any audit process.
To learn more about our service, contact us at 800-355-0466, firstname.lastname@example.org, or you may visit our website for Availity clients at https://settlements.mcaginc.com/partners/availity/AVL123.
The nation’s largest HITRUST-certified health information network, Availity solves the communication challenges between stakeholders, facilitating over 10 million clinical, administrative, and financial transactions daily. Availity’s suite of dynamic products, built on a powerful, intelligent platform, enables clients to succeed in a value-based care environment. Learn more or request a demonstration at www.availity.com or call 1.800.AVAILITY (282.4548).