finHealth

Validated Program Report

About finHealth

finHealth helps self-insured employers find and recover payment errors that occur when processing medical claims in a self-funded health benefit plan. Their preferred business model is to be compensated based on errors identified, acknowledged, and refunded back to the plan sponsor.

Key Takeaways on The finHealth Savings Report

finHealth specializes in identifying and recovering payment errors in medical claims for self-insured employers. Utilizing advanced analytics, finHealth’s approach aims to optimize healthcare expenditures by ensuring accuracy in claims processing, thereby directly reducing unnecessary financial burdens on employers and their health plans.

  • Significant Cost Savings: finHealth has demonstrated the ability to consistently reduce healthcare costs for self-insured employers by identifying and rectifying errors in medical claims processing. Their analysis shows that clients could potentially save over 30% on annual medical services spending through consistent pricing and error correction.
  • High Recovery Rate: Within a five-month period, finHealth’s program detected errors amounting to 2% of their client’s spending, which is significant considering the National Health Care Anti-Fraud Association estimates that 3% of all healthcare spending is due to fraud. This highlights finHealth’s effectiveness in identifying and correcting costly errors and fraud.
  • Contingency-Based Revenue Model: finHealth’s unique business model, where compensation is based solely on the recovery of overpayments, aligns their success directly with the financial benefits realized by their clients. This model not only incentivizes thorough and diligent audits but also ensures transparency and trust in their services.

Savings Review for finHealth

Program Name: finHealth Valuelytics

Program Claim: finHealth identifies errors in medical claims paid by health insurance carriers to generate savings for plan sponsor, member or both

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The move toward high-performance and high-value healthcare

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In-depth analysis of the latest trends and solutions that improve heath outcomes, strengthen accountability, and cut costs

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Actionable insights on how to drive better health outcomes at a far lower cost for your organization.

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Profiles in innovative solutions and organizations that are “walking the walk” when it comes to delivering better savings, outcomes, and more

Get ValidPoints

Sign up for ValidPoints, the complimentary monthly newsletter that offers the latest updates on:

A red line drawing of an archery target with an arrow in the center bullseye, symbolizing precision, goal achievement, and success.

The move toward high-performance and high-value healthcare

Icon depicting customer support and care with a stylized human figure embraced by a hand, set against a segmented circular backdrop.

In-depth analysis of the latest trends and solutions that improve heath outcomes, strengthen accountability, and cut costs

Icon of a seal with a checkmark, representing verified completion or approval, with a radiating effect, in red outline on a light background.

Actionable insights on how to drive better health outcomes at a far lower cost for your organization.

Icon of a badge with ribbons and a check mark, symbolizing achievement, accreditation, or quality assurance in a red outline.

Profiles in innovative solutions and organizations that are “walking the walk” when it comes to delivering better savings, outcomes, and more