Facing a healthcare crisis with charges reaching 600% of Medicare, the Co-op aims to overhaul its healthcare management.
Intelligent Pricing enables the Co-op to manage healthcare costs transparently, rectify errors, and ensure fair repricing of medical bills based on Medicare rates.
The Midwest Baking and Food Service Co-op was established by a collective of visionary bakers whose goal was to streamline the procurement of ingredients and supplies during challenging economic times. With 188 employees, the Co-op was grappling with skyrocketing healthcare expenses. Billed charges soared to an alarming 600% of Medicare rates and it became clear to the Co-op that they needed to revolutionize their healthcare management. Their core business thrived on enhancing efficiencies and reducing costs, and they realized the same ingenuity had to be channeled into managing their healthcare costs.
AMPS emerged as the natural choice for the Co-op due to its similar business philosophy. With the integration of our Intelligent Pricing program, common errors in medical bills were rectified, and claims were repriced to a fair percentage of Medicare. Healthcare costs are managed transparently, steering clear of the incessant hikes imposed by conventional insurance carriers.
Since partnering with AMPS in 2015, the Co-op has experienced extraordinary outcomes, witnessing a substantial transformation in healthcare expenses orchestrated by AMPS. The initial billed charges amounted to a staggering $7,318,012, equivalent to 367% of Medicare rates. Through our strategic negotiation efforts, AMPS significantly reduced these charges. The adjusted amount stood at $2,848,665, reflecting an impressive 61.1% discount through RBP. This reduction translated into substantial savings for the Co-op, amounting to $4,469,347. Nearly 98% of Co-op members faced no pushback issues. A mere 2.1% received an initial balance bill, and 1.0% received a second one.
What sets AMPS apart is our unparalleled resolution rate – every single balance bill was not just managed but successfully resolved by our dedicated team of Member Advocates, achieving a 100% resolution record. The Co-op’s financial landscape underwent a dramatic transformation, showcasing the tangible impact of partnering with AMPS. This collaboration not only alleviated immediate financial stress but also fostered a sustainable healthcare management model, ensuring a stable and secure future for the Co-op.
Because of AMPS, 100% of balance bills were managed and resolved.
