LAKEWOOD RANCH, Fla., June 2, 2016 /PRNewswire/ -- Today, Care Bridge International announced the launch of its technology based Medicare Set Aside (MSA) Estimator and Medical Reserve Calculator through MSP Compliance Bridge, a wholly owned subsidiary of Care Bridge International.
The company was formed in August, 2015 by former claim, clinical and data analytic experts, and has a data warehouse in excess of 150 million medical claim transactions and over 2500 Medicare Set Asides previously submitted and approved by the Centers for Medicare and Medicaid Services (CMS).
By applying data science, the company has developed the MSA Estimator consistent with CMS requirements for Medicare Set Asides. Using simple drop down selections, it delivers an estimate of future Medicare Set Aside exposure in report format instantly.
"We originally developed the MSA Estimator to meet the needs of our clients desiring advanced knowledge of their financial exposure for MSAs, to develop their claim closure strategy," stated Deborah Watkins, CEO, "then one of our clients was so impressed with the technology, we were asked if we could create a medical reserve tool as well, which led to the development of our Medical Reserve Calculator."
The company's Medical Reserve Calculator applies data science, based on its extensive medical claims data base, to forecast future medical costs. A function important for insurance payers to ensure that adequate funds exist to cover future claim liabilities and costs.
"What is unique about our medical reserve calculator, is that it includes prescription drug costs, which can average 40% or more of the total claim exposure for medical care and treatment, an important cost driver to understand for adequate reserve protection," stated Deborah Watkins.
The Medical Reserve Calculator also allows the user to incorporate medical inflation factors and select any number of years for reserving. Those calculations are generated in a report format instantaneously.
Both products offer an estimated rated age life expectancy, as influenced by co-morbid medical conditions, in comparison to the CDC life tables for life expectancy, delivering higher accuracy in forecasting future medical exposure.
Care Bridge International, Inc., offers technology based solutions for complex healthcare issues through a unique, data-centric, coordinated and integrated approach. Analytic-Powered Outcomes™
MSP Compliance Bridge is a wholly owned subsidiary of Care Bridge International, offering data intelligence for Medicare Secondary Payer Compliance.
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SOURCE Care Bridge International