The Wrap: Is There a 'Cartel' for Insurance Companies?
September 13, 2023
In this episode of The Health & Wealth Power Hour, Harlon Pickett brings you a recording of his weekly show, The Wrap. The episode covers a lawsuit filed by AdventHealth against MultiPlan, alleging they operate as a cartel that systematically underpays providers through claim repricing to the tune of $19 billion annually.
The Wrap discusses recent issues in the health insurance industry.
Key Points:
Key Points:
- AdventHealth lawsuit against MultiPlan for price fixing and underpaying doctors and hospitals
- MultiPlan accused of repricing out-of-network claims despite owning insurance companies
- Allegations of MultiPlan acting as a cartel and mafia enforcer for insurers
- American Hospital Association criticizes insurance companies' practices but acknowledges symbiotic relationship
- Lawsuit seeks to permanently ban MultiPlan from operating as a cartel and seeks damages for underpayments
- Coverage of weight loss medications and impact of insurance coverage on medication choices
- Some organizations not covering certain medications while insurers like Aetna have decided to cover them
- Comparison of medication costs in different countries, revealing significant price differences with the United States paying higher prices