LifeWallet Announces a $2 Million Pharmaceutical Litigation Settlement and Ongoing Settlement Negotiations With Multiple P&C Insurers, Pharmaceutical and Medical Device Manufacturers, While Advancing Efforts to Combat Systemic Medicare Waste
LifeWallet Announces a $2 Million Pharmaceutical Litigation Settlement and Ongoing Settlement Negotiations With Multiple P&C Insurers, Pharmaceutical and Medical Device Manufacturers, While Advancing Efforts to Combat Systemic Medicare Waste
LifeWallet Announces a $2 Million Pharmaceutical Litigation Settlement and Ongoing Settlement Negotiations With Multiple P&C Insurers, Pharmaceutical and Medical Device Manufacturers, While Advancing Efforts to Combat Systemic Medicare Waste, Which Aligns With Initiatives of the Newly-Formed Department of Government Efficiency (DOGE)
LifeWallet宣布了一项200万美元的药品诉讼和正在与多家P&C保险公司、制药和医疗器械制造商进行持续和解谈判的协议，同时继续努力打击系统性的医疗保费浪费问题，这与新组建的政府效率部门（DOGE）的倡议一致。
MIAMI, Nov. 21, 2024 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. d/b/a LifeWallet (NASDAQ: LIFW) ("LifeWallet" or the "Company") announces it reached a preliminary $2 million settlement as part of its portfolio of pharmaceutical litigation cases, while engaging in ongoing settlement negotiations with other pharmaceutical and medical device manufacturers, as well as property and casualty ("P&C") insurers. LifeWallet also recently entered into an agreement with one of the Company's lenders, securing a limited waiver of the Company's obligation to pay a promissory note, which is expected to provide additional liquidity to the Company.
迈阿密，2024年11月21日（全球新闻）-- MSP Recovery, Inc. 以LifeWallet（纳斯达克：LIFW）名义（"LifeWallet"或"公司"）公告，作为其药品诉讼案件组合的一部分，达成初步200万的和解，同时与其他药品和器械制造商以及财产和意外（"P&C"）保险公司进行持续的和解谈判。LifeWallet最近还与公司的一个贷款方达成协议，获得对公司支付 promissory note 义务的有限豁免，这预计将为公司提供额外的流动性。
LifeWallet CEO, John H. Ruiz, is confident in the Company's continued progress, saying, "Our commitment to discovering waste and recovering improper healthcare payments will continue to have a positive widespread impact." He continues, "By tackling waste through legal, operational, and technological avenues, LifeWallet is committed to recovering improperly paid funds and promoting accountability within the healthcare system, benefitting all Americans."
LifeWallet首席执行官约翰·H·鲁伊斯对公司持续取得的进展充满信心，他表示，“我们致力于发现浪费并收回不当医疗支付，将继续对广泛产生积极影响。”他继续说道，“通过法律、运营和技术途径解决浪费问题，LifeWallet致力于收回不当支付的资金，并促进医疗保健系统内的问责，使所有美国人受益。”
Pharmaceutical Litigation Settlement
药品诉讼解决
On November 21, 2024, LifeWallet reached a preliminary settlement totaling $2 million, subject to finalizing terms in a global settlement agreement, against a defendant for alleged violations of the Racketeer Influenced and Corrupt Organizations Act ("RICO"), and violation of various state consumer protection laws and unjust enrichment laws. The terms of the settlement are a combination of monetary and non-monetary considerations, with the non-monetary considerations involving LifeWallet obtaining prescription drug claims data that will assist in identifying and recovering against other responsible parties, including, but not limited to, at least twelve other pharmaceutical manufacturers, and distributors.
2024年11月21日，LifeWallet达成初步和解，总额为200万美元，需就全球和解协议的最终条款达成一致，反对被告据称违反《敲诈勒索组织法案》（"RICO"）和各州消费者保护法以及不当得利法。和解条款结合了货币和非货币考虑因素，其中非货币考虑因素包括LifeWallet获得处方药索赔数据，将有助于确认并追收其他责任方的款项，包括但不限于至少十二家其他制药商和经销商。
Ongoing Settlement Negotiations
进行中的和解谈判
As part of LifeWallet's owned claims portfolio, the Company is also engaged in ongoing litigation against property and casualty insurers and other pharmaceutical and medical device manufacturers based on claims of anti-competitive pricing, RICO, violation of state consumer protection statutes, and defective medical products or prescription drugs.
作为LifeWallet拥有的索赔组合的一部分，该公司还参与了针对财产和意外伤害保险公司以及其他药品和医疗器械制造商的诉讼，涉及反竞争定价、RICO、违反州消费者保护法规、医疗产品或处方药的瑕疵等索赔。
On November 11, 2024, the Company announced two comprehensive settlements with P&C insurers, totaling more than $5.2 million, which offer a going-forward process to collaboratively and timely resolve future claims and share important historical data. LifeWallet's exclusive data matching with primary payers is expected to enhance its claims reconciliation capabilities by identifying claims owned by LifeWallet that it may have a right to recover on, benefiting Medicare plans and downstream entities. These recent P&C insurer settlements follow three other settlements against P&C insurers earlier this year. Some of these settlements require the P&C insurers to provide data to the LifeWallet clearinghouse platform that was designed and created by LifeWallet and Palantir Technologies, Inc.
2024年11月11日，公司宣布与财产和意外伤害保险公司达成两项全面和解，总额超过520万美元，为未来合作和及时解决未来索赔提供了一个前进的程序，并共享重要的历史数据。 LifeWallet与初级付款方的独家数据匹配预计将通过识别LifeWallet拥有权利恢复的索赔来增强其索赔协调能力，使医疗保险计划和下游实体受益。 这些最近的财产和意外伤害保险公司的和解是在今年早些时候对抗另外三家财产和意外伤害保险公司的和解之后。 其中一些和解要求财产和意外伤害保险公司向由LifeWallet和Palantir Technologies, Inc.设计和创建的LifeWallet结算中心平台提供数据。
The LifeWallet/Palantir clearinghouse is a hybrid between a statistical analysis system model and one that identifies improper payments, while also having the capability to provide patients, providers, and attorneys with an individual's current and past medical conditions as they relate to improper payments or potential claims against the world's largest pharmaceutical and medical device companies.
LifeWallet/Palantir结算中心是统计分析系统模型与识别不当支付的混合体，同时具有提供患者、提供者和律师有关个人当前和过去医疗状况的能力，以便与不当支付或对全球最大药品和医疗器械公司的潜在索赔相关。
LifeWallet notes these settlements are not a guarantee that its portfolio of assigned claims (owed by other Primary Payers) can be settled with the same or similar terms. The settlement values are a combination of monetary and non-monetary considerations, with the non-monetary considerations involving LifeWallet obtaining data on all the claims that were processed and paid by the P&C Insurers, and the P&C Insurers' assignment of rights to collect against other responsible parties. LifeWallet expects this will enhance its ability to discover liens and recover payments owed more efficiently than through litigation. It also enables LifeWallet to pursue a diversified number of entities that failed to pay liens or collected twice for the same bills, both from the insurer and LifeWallet's assignor clients.
LifeWallet指出，这些和解并不保证其被指定索赔（由其他主要支付方拖欠的）的组合可以以相同或相似的条款解决。和解价值由货币和非货币考虑因素组成，其中非货币考虑因素涉及 LifeWallet获取由P&C保险公司处理和支付的所有索赔的数据，以及P&C保险公司转让向其他负有责任的方进行收款权的权利。LifeWallet期待这将增强其发现留置权并比通过诉讼更有效地追回应付款项的能力。这也使LifeWallet能够对未付留置权或重复为同一账单收款的多个实体进行追究，既从保险人，也从LifeWallet的指定客户身上。
LifeWallet's Efforts to Discover and Recover Medicare and Medicaid Waste
LifeWallet发现和追回医疗保险及医疗补助金的浪费所做努力
The Scope of the Problem
问题的范围
Improper payments by Medicare and Medicaid contribute significantly to government waste, accounting for billions of dollars annually.
医疗保险和医疗补助金的不当支付对政府浪费产生重大影响，每年占据数十亿美元。
In fiscal year 2022, the United States Government Accountability Office (GAO) reported $247 billion in improper payments across 82 programs, with approximately 52% attributed to Medicare and Medicaid1. This statistic was highlighted by Elon Musk, who is expected to head the newly established Department of Government Efficiency (DOGE) (x.com/doge), which will function as a newly created advisory board to President-elect Donald Trump. Musk commented the above numbers are "just the tip of the iceberg. The actual fraud and waste in government spending is much higher."
With Medicare and Medicaid spending surpassing $1 trillion in 2023,2 estimated waste due to accident-related injuries exceeds $100 billion.
在2022财政年度，美国政府问责办公室（GAO）报告称，在82个项目中出现了2470亿美元的不当支付，其中约52%归因于医疗保险和医疗补助。这一统计数据引起了埃隆·马斯克的关注，他预计将领导新成立的政府效率部（DOGE）（x.com/doge），该部门将作为新成立的总统当选人唐纳德·特朗普咨询委员会运作。马斯克评论说，上述数字只是“冰山一角。政府支出中实际的欺诈和浪费要高得多。
到2023年，医疗保险和医疗补助支出超过1万亿美元，由于意外受伤引起的浪费估计超过1000亿美元。
LifeWallet's Initiatives Align with Reducing Government Waste
LifeWallet的倡议与减少政府浪费保持一致
LifeWallet is dedicated to discovering and recovering substantial improper payments within the Medicare and Medicaid systems, particularly focusing on the Medicare Advantage program. These improper payments often result from systemic communication failures among stakeholders, leading to Medicare erroneously covering accident-related injuries and failing to recuperate those funds.
LifeWallet致力于发现和回收医疗保险和医疗补助系统中大量的不当支付，特别侧重于医疗保险优势计划。这些不当支付通常是由于各利益相关者之间系统性沟通失误导致，导致医疗保险错误地覆盖意外受伤并未能收回这些资金。
Litigation Against Improper Payments: In 2024, LifeWallet has agreed to five settlements against property and casualty insurers, in aggregate totaling more than $10 million dollars to settle historical claims of improper payments, as well as obtain data to pursue claims for additional improper payments and establish a clearinghouse to efficiently settle future claims with certain P&C Insurers.
Additional Claims Acquisition: In October 2024, LifeWallet paid approximately $2 million dollars to acquire additional Medicare Secondary Payer (MSP) claims with an overall Paid Amount3 exceeding $10.6 billion, encompassing over 450,000 Medicare members. This claims acquisition enhances LifeWallet's ability to identify and recover improper payments.4
Technological Enhancements: In 2023, continuing into 2024, LifeWallet has developed the LifeWallet/Palantir clearinghouse that connects P&C Insurers to health plans, allowing for elimination of waste from improper payments made for accident-related injuries.
对不当支付的诉讼：2024年，LifeWallet已同意与财产和意外险公司达成五项和解，总额超过1000万美元，用以解决不当支付的历史索赔，并获取数据以追索额外的不当支付，并建立一个清算所，以有效地与某些财产和意外险公司解决未来索赔。
在2024年10月，LifeWallet支付了约200万美元，收购了额外的医疗保险次级支付（MSP）索赔，总支付金额超过106亿美元，涵盖了45万多名医疗保险会员。这些索赔的收购增强了LifeWallet识别和追回不当支付的能力。
在2023年，并延续至2024年，LifeWallet开发了LifeWallet/Palantir结算中心，将财产保险商与健康计划连接起来，消除为事故相关伤害而做出的不当支付。
While these efforts represent steps toward addressing systemic issues in Medicare and Medicaid spending, comprehensive reform requires collaboration among all stakeholders. Individuals expected to be appointed to President-elect Trump's advisory committee, called the Department of Government Efficiency (DOGE), are emphasizing the importance of addressing Medicare waste, advocating for enhanced oversight and stricter enforcement measures to curb improper payments. Their efforts align with LifeWallet's continued mission to reduce waste and improve efficiency in healthcare spending.
虽然这些努力代表着解决医疗保险和医疗补助支出系统性问题的一步，但全面的改革需要所有利益相关者之间的合作。预计将任命的特朗普总统顾问委员会成员，名为政府效率部（DOGE），强调解决医疗保险浪费问题的重要性，倡导加强监督和更严格的执法措施以遏制不当支付。他们的努力与LifeWallet继续减少浪费、提高医疗保健支出效率的使命相契合。
Nomura Limited Waiver of Company's Obligation to Pay
野村有限公司豁免公司支付义务
On November 18, 2024, Company lender, Nomura Securities International, Inc. ("Nomura"), agreed to a limited waiver of the Company's obligation to pay promissory note obligations using the proceeds of the Standby Equity Purchase Agreement dated November 14, 2023 by and between the Company and YA II PN, Ltd. until March 31, 2025, and up to an aggregate total of $4 million of such proceeds that would otherwise be paid to Nomura; provided that such proceeds be used to fund the operations of the Company. This waiver is expected to create more liquidity for the Company, to invest in accelerating healthcare reimbursement recoveries.
在2024年11月18日，公司贷款方野村证券国际有限公司（"野村"）同意有限豁免公司根据公司与YA II PN，有限公司于2023年11月14日签署的备用股权购买协议支付票据义务，直至2025年3月31日，并且多达400万美元的此类款项，否则应支付给野村；前提是这些款项用于资助公司运营。预计这项豁免将为公司创造更多流动性，用于投资加快医疗报销的回收。
About LifeWallet
关于LifeWallet
Founded in 2014 as MSP Recovery, LifeWallet has become a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery leader, disrupting the antiquated healthcare reimbursement system with data-driven solutions to secure recoveries from responsible parties. LifeWallet provides comprehensive solutions for multiple industries including healthcare, legal, and sports NIL. For more information, visit: LIFEWALLET.COM.
成立于2014年的MSP Recovery，LifeWallet已成为领先的医疗保健、法律、体育NIL等多个行业的医疗、医疗、商业和次要付款人偿还领导者，通过数据驱动的解决方案打破陈旧的医疗保健偿还系统，以确保从责任方获得赔偿。LifeWallet为多个行业提供全面解决方案，包括医疗保健、法律和体育NIL。欲了解更多信息，请访问：LIFEWALLEt.COm。
