CorVel Launches Marketwise Repricing to Cut Medical Spend Via Market-Based Billing
CRVL•CorVel has launched Marketwise Repricing™, a market-based medical bill repricing solution that integrates with existing bill review workflows to capture additional savings and reduce overall medical spend. The data-driven system uses real-world reimbursement data to deliver consistent, supportable pricing across states, providers and care settings.
1. Product Launch
CorVel introduced Marketwise Repricing™, a medical bill repricing solution that applies market-based reimbursement methods to existing bill review programs. It is designed to enhance traditional cost containment workflows without adding administrative burden.
2. Market-Based Methodology
The solution leverages real-world reimbursement data to establish pricing that reflects local market conditions, addressing wide variations across states, providers and care settings. This market-driven approach captures savings that standard fee schedules and network discounts may overlook.
3. Workflow Integration
Marketwise Repricing integrates seamlessly into current bill review and network strategies, offering end-to-end management by CorVel. It is particularly effective for out-of-network claims and regions with limited or absent fee schedules.
4. Cost Savings Impact
By layering market-based intelligence onto traditional repricing, CorVel anticipates additional savings in complex, high-variance billing scenarios, ultimately reducing overall medical spend for clients.
