Insurance & Reinsurance
The insurance/reinsurance industry is an essential and critical component of the healthcare reimbursement ecosystem. Any solution that addresses the challenges presented by high-cost therapies (HCTs) must recognize this industry’s key role and facilitate product innovations that are vital for all stakeholders in the HCT delivery and payment stream. Octaviant Financial offers that solution, working closely with leading insurance organizations to integrate our core features to recognize the advantage in redefining HCT episodes to allow long-term financing and recourse through warranties.
By working with our insurance industry partners to deploy Octaviant Financial’s proprietary concepts in their product stream, we facilitate alignment of industry risk management goals with the needs of customers, achieving:
- Reduced volatility through therapy financing
- Financial recourse for HCTs that do not meet efficacy goals
- Risk transfer in the event of a beneficiary changing plans
- Enhanced renewal retention options through the mitigation of expensive “one-and-done” HCT claims
Octaviant’s solution offers a comprehensive integrated approach to manage HCT risk that is aligned with patient, payer, and insurer objectives.
We have designed several proprietary policies that excess providers can offer to their clients. Much like our direct-to-payer offering, these policies enable payers to spread the cost of high-cost therapies over time, provide a mechanism of recourse to both the payer and the reinsurer in the event of therapeutic failure, and allow for portability in the event of a beneficiary transfer while minimizing premium increases and the risk of lasering high-cost beneficiaries from existing excess coverage. At the same time, reinsurers also benefit from these new policies through the reduction of immediate disbursement for high-cost therapy claims, risk sharing, and the ability to offer their clients a larger suite of products and services to suit their needs.