IronHealth, the specialty healthcare unit of Ironshore Inc., has introduced a program to protect healthcare providers from the financial risks associated with bundled payment contracts.
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, where the provider accepts a flat rate for a designated service such as a knee replacement or bariatric surgery, expose the provider to financial risk if the services associated with that procedure cost more than the bundled payment.
According to Matt Dolan, president of IronHealth the two-tiered product leverages a first dollar post-surgical complication cover via IronHealth’s BLISCare product with a provider excess of loss limit into a single program to offer financial risk protection for providers.
Ironshore provides broker-sourced specialty property and casualty insurance coverages for varying risks on a global basis through its multiple international platforms.
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