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宣佈了一項200萬美元的藥品訴訟和正在與多家P&C保險公司、製藥和醫療器械製造商進行持續和解談判的協議，同時繼續努力打擊系統性的醫療保費浪費問題，這與新組建的政府效率部門（DOGE）的倡議一致。
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.
MIAMI，2024年11月21日（全球新聞社）- MSP Recovery，Inc.，即LifeWallet（納斯達克股票代碼：LIFW）（"LifeWallet"或"公司"）宣佈，作爲其藥品訴訟案件組合的一部分，已達成初步價值200萬美元的和解協議，同時正在與其他藥品和器械製造商以及財產和意外傷害（"P&C"）保險商進行持續的和解談判。 LifeWallet還最近與公司的一家貸方達成協議，獲得對公司支付票據義務的有限豁免，預計將爲公司提供額外的流動性。
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首席執行官約翰·H·魯伊斯對公司持續取得的進展充滿信心，他表示，「我們致力於發現浪費並收回不當醫療支付，將繼續對廣泛產生積極影響。」他繼續說道，「通過法律、運營和技術途徑解決浪費問題，LifeWallet致力於收回不當支付的資金，並促進醫療保健系統內的問責，使所有美國人受益。」
Pharmaceutical Litigation Settlement
藥品訴訟解決
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達成初步和解，總額爲200萬美元，需就全球和解協議的最終條款達成一致，反對被告據稱違反《敲詐勒索組織法案》（"RICO"）和各州消費者保護法以及不當得利法。和解條款結合了貨幣和非貨幣考慮因素，其中非貨幣考慮因素包括LifeWallet獲得處方藥索賠數據，將有助於確認並追收其他責任方的款項，包括但不限於至少十二家其他製藥商和經銷商。
Ongoing Settlement Negotiations
進行中的和解談判
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.
作爲LifeWallet擁有的索賠組合的一部分，該公司還參與了針對財產和意外傷害保險公司以及其他藥品和醫療器械製造商的訴訟，涉及反競爭定價、RICO、違反州消費者保護法規、醫療產品或處方藥的瑕疵等索賠。
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，公司宣佈與財產和意外傷害保險公司達成兩項全面和解，總額超過520萬美元，爲未來合作和及時解決未來索賠提供了一個前進的程序，並共享重要的歷史數據。 LifeWallet與初級付款方的獨家數據匹配預計將通過識別LifeWallet擁有權利恢復的索賠來增強其索賠協調能力，使醫療保險計劃和下游實體受益。 這些最近的財產和意外傷害保險公司的和解是在今年早些時候對抗另外三家財產和意外傷害保險公司的和解之後。 其中一些和解要求財產和意外傷害保險公司向由LifeWallet和Palantir Technologies, Inc.設計和創建的LifeWallet結算中心平台提供數據。
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結算中心是統計分析系統模型與識別不當支付的混合體，同時具有提供患者、提供者和律師有關個人當前和過去醫療狀況的能力，以便與不當支付或對全球最大藥品和醫療器械公司的潛在索賠相關。
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，這些和解並不保證其被指定索賠（由其他主要支付方拖欠的）的組合可以以相同或相似的條款解決。和解價值由貨幣和非貨幣考慮因素組成，其中非貨幣考慮因素涉及 LifeWallet獲取由P&C保險公司處理和支付的所有索賠的數據，以及P&C保險公司轉讓向其他負有責任的方進行收款權的權利。LifeWallet期待這將增強其發現留置權並比通過訴訟更有效地追回應付款項的能力。這也使LifeWallet能夠對未付留置權或重複爲同一賬單收款的多個實體進行追究，既從保險人，也從LifeWallet的指定客戶身上。
LifeWallet's Efforts to Discover and Recover Medicare and Medicaid Waste
LifeWallet發現和追回醫療保險及醫療補助金的浪費所做努力
The Scope of the Problem
問題的範圍
Improper payments by Medicare and Medicaid contribute significantly to government waste, accounting for billions of dollars annually.
醫療保險和醫療補助金的不當支付對政府浪費產生重大影響，每年佔據數十億美元。
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財政年度，美國政府問責辦公室（GAO）報告稱，在82個項目中出現了2470億美元的不當支付，其中約52%歸因於醫療保險和醫療補助。這一統計數據引起了埃隆·馬斯克的關注，他預計將領導新成立的政府效率部（DOGE）（x.com/doge），該部門將作爲新成立的總統當選人唐納德·特朗普諮詢委員會運作。馬斯克評論說，上述數字只是“冰山一角。政府支出中實際的欺詐和浪費要高得多。
到2023年，醫療保險和醫療補助支出超過1萬億美元，由於意外受傷引起的浪費估計超過1000億美元。
LifeWallet's Initiatives Align with Reducing Government Waste
LifeWallet的倡議與減少政府浪費保持一致
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致力於發現和回收醫療保險和醫療補助系統中大量的不當支付，特別側重於醫療保險優勢計劃。這些不當支付通常是由於各利益相關者之間系統性溝通失誤導致，導致醫療保險錯誤地覆蓋意外受傷並未能收回這些資金。
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.
對不當支付的訴訟：2024年，LifeWallet已同意與財產和意外險公司達成五項和解，總額超過1000萬美元，用以解決不當支付的歷史索賠，並獲取數據以追索額外的不當支付，並建立一個清算所，以有效地與某些財產和意外險公司解決未來索賠。
在2024年10月，LifeWallet支付了約200萬美元，收購了額外的醫療保險次級支付（MSP）索賠，總支付金額超過106億美元，涵蓋了45萬多名醫療保險會員。這些索賠的收購增強了LifeWallet識別和追回不當支付的能力。
在2023年，並延續至2024年，LifeWallet開發了LifeWallet/Palantir結算中心，將財產保險商與健康計劃連接起來，消除爲事故相關傷害而做出的不當支付。
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.
雖然這些努力代表着解決醫療保險和醫療補助支出系統性問題的一步，但全面的改革需要所有利益相關者之間的合作。預計將任命的特朗普總統顧問委員會成員，名爲政府效率部（DOGE），強調解決醫療保險浪費問題的重要性，倡導加強監督和更嚴格的執法措施以遏制不當支付。他們的努力與LifeWallet繼續減少浪費、提高醫療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義務
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，公司貸款方野村證券國際有限公司（"野村"）同意有限豁免公司根據公司與YA II PN，有限公司於2023年11月14日簽署的備用股權購買協議支付票據義務，直至2025年3月31日，並且多達400萬美元的此類款項，否則應支付給野村；前提是這些款項用於資助公司運營。預計這項豁免將爲公司創造更多流動性，用於投資加快醫療報銷的回收。
About LifeWallet
關於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.
成立於2014年的MSP Recovery，LifeWallet已成爲領先的醫療保健、法律、體育NIL等多個行業的醫療、醫療、商業和次要付款人償還領導者，通過數據驅動的解決方案打破陳舊的醫療保健償還系統，以確保從責任方獲得賠償。LifeWallet爲多個行業提供全面解決方案，包括醫療保健、法律和體育NIL。欲了解更多信息，請訪問：LIFEWALLEt.COm。
