Latest news with #MarkGalvin
Yahoo
07-04-2025
- Business
- Yahoo
TALON and Litchfield partner on medical stop-loss insurance
TALON, a healthcare pricing specialist, has chosen Litchfield Underwriters for medical stop-loss insurance coverage. The collaboration will support the 'first deployment' of TALON's in-house negotiated rate calculation and pricing solution, Universally Acceptable Payment Amount (UAPA). UAPA employs machine learning (ML) to analyse and synthesise high volumes of healthcare pricing data, curating a 'single, evidence-based' rate. It replaces the concept of "network discount" with a price that reflects 'commercial acceptance'. UAPA's pricing is derived from actual commercial transactions involving more than 400 payers, resulting in an equitable midpoint rate that is neither artificially low nor high. TALON claims that this ensures providers receive a rate they recognise, while employers anticipate their healthcare spending and patients have access to 'ethical' pricing. The aim is to offer 'equitable' market rates for healthcare providers and patients. TALON CEO Mark Galvin stated: "The healthcare industry will experience a paradigm shift as a result of our development and deployment of UAPA. This shift means a more efficient, patient-centric, free-market driven financial environment for healthcare patients and providers. Litchfield Underwriters' extensive ability to craft solutions to match TALON's unique risk appetite and profile made our decision to work alongside them very easy." Litchfield principal and cofounder Michael Pastor said: "With the robust data leveraged by TALON to develop UAPA, we were excited to deploy our proprietary underwriting technologies to provide an innovative medical stop-loss reinsurance policy tailored to TALON's needs. By aligning price transparency and price equity, UAPA aligns with our vision for creating a more efficient and effective healthcare ecosystem for employers and their employees." Litchfield Underwriters' underwriting methodologies are designed to provide self-funded reinsurance solutions to both commercial clients and Welfare Funds. The methodologies are crafted for small to mid-sized employers, with workforces ranging from 50–500 employees, and offer a self-funded option as an alternative to conventional fully insured health plans. "TALON and Litchfield partner on medical stop-loss insurance " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Associated Press
12-02-2025
- Business
- Associated Press
TALON selects MedWatch to provide advocacy and concierge services for initial deployment of the first National Equitable Healthcare Pricing Network
PORTSMOUTH, N.H., Feb. 12, 2025 /PRNewswire/ -- MedWatch, an industry leader for white-glove concierge member advocacy and support services, was recently selected to support a next-generation negotiated rate calculation and pricing solution, providing healthcare stakeholders evidence-based, commercially valid, equitable market rates to providers and patients. MedWatch is supporting TALON, a pioneer in ethical healthcare price transparency, to empower the healthcare market with a fair, transparent price, for the first self-funded employer group deployment. Developed internally at TALON, the Universally Acceptable Payment Amount™, or UAPA™, leverages advanced machine learning to ingest and transform massive amounts of healthcare pricing data, curating a single, evidence-based rate that patients and providers can trust. Unlike other contracted rates within healthcare, UAPA eliminates the 'network discount' concept, and instead reflects actual commercial acceptance. Derived from real, commercial prices spanning over 400+ payers, UAPA lands at an equitable midpoint—not artificially low or high. Providers see a realistic rate they already accept, employers achieve predictable spend, and patients receive fair, ethical, transparent pricing. 'I'm very excited for the future of the healthcare industry as a result of our development and first deployment of UAPA' commented Mark Galvin, CEO of TALON, 'UAPA will spark a massive transition in the healthcare industry, fostering a more efficient, free market driven financial environment for healthcare patients and providers. Selecting MedWatch to support the first real-world deployment was an easy decision, given their reputation in the industry and their gold standard support and advocacy on behalf of healthcare consumers.' 'MedWatch delivers lasting value built on compassion, transparency, and a deep understanding of what it truly means to care. TALON's UAPA is perfectly aligned with our organizational values and commitment to patients' said Sally-Ann Polson, President and CEO at MedWatch. 'When paired with our Pathways Concierge solution, patients leveraging UAPA will benefit from outstanding clinical outcomes, increased trust and loyalty between patient and provider, and meaningful reduction in healthcare spend.' About MedWatch: MedWatch, a leader in population health and medical management solutions, offers clients the unique ability to deliver a truly thorough approach to concierge member advocacy and medical cost containment solutions. MedWatch leverages health information, evidenced based medical criteria and care protocols to provide integrated services that are geared toward health plans and their plan members. MedWatch's depth of staffing, accreditation and expertise assures clients that services provided are upheld to the highest quality standards and focused to achieve optimal clinical and financial outcomes. About TALON: TALON is driven to promote and empower healthcare consumers through a set of innovative tools and services that introduce free market dynamics in an otherwise fractured marketplace. TALON has equipped clients in all 50 states to comply and exceed requirements of the Transparency in Coverage Rule and No Surprises Act.
