International Medical Cost Containment And Claims Management Strategies

In a closed door, executive iPMI Magazine Round Table, we speak with leading C-Level Executives at Cegedim Insurance Solutions, Global Excel, Payer Fusion, MDabroad and Transworld Claims Solutions, about International Medical Cost Containment And Claims Management Strategies. 

Although international risks have changed the cost of healthcare around the world remains a key concern for the international private medical insurance industry. This round table defines the complex nature of international cost containment and how medical payors and providers may leverage cost containment strategies to improve the standard of care and reduce the bottom line.

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Regardless of the vendor, cost containment is about optimising the claims expense to the lowest possible level. It is an equilibrium of sorts, where payors and providers agree as to what constitutes fair value. Most typically, this fair-value is reached to via a contracted network arrangement, or “network rental”. My sense is that the leading cost containment service providers share an understanding that cost containment is not an ‘event” but rather a result of a comprehensive approach to managing “all the moving parts” and adapting it to fit the unique business - cultural needs of a certain region/market. At the same time, each company has its “Magic Sauce”, or a key differentiator that sets it a part from its competitors.