Advanced Medical Pricing Solutions (AMPS), a pioneer in healthcare cost containment, launched its innovative product solutions with three distinct offerings. The packages include the following:
- Core Edition – This solution focuses on member and plan savings through reference-based pricing (RBP).
- Focused Edition – This option also focuses on member and plan savings through RBP; however, the standard balance bill settlement is offset with pre-care steerage to friendly providers and AMPS America contracted providers to reduce member abrasion and pushback.
- Balanced Edition – This package focuses on balancing member savings and member experience. The savings and reduction in provider pushback are through AMPS America contracts and care navigation services. Member abrasion is also reduced by the rapid response to balance bills where the AMPS provider relations team settles after the second balance bill.
Additionally, each package has optional add-on services, depending on client needs. These options can further reduce healthcare costs for both the employer and their employees. Drexi, an AMPS company, is one of those options. It is a non-traditional pharmacy solution that enables savings by transparent pricing and pass-thru on prescription medications. Additionally, stop loss coverage is offered that is competitively priced and specifically tailored to AMPS’s RBP performance, experience and 15+ years of accumulated data.
AMPS has a history of providing highly successful cost containment solutions to the self-funded employer market and these new package bundles are part of AMPS’s strategic vision to further reduce the impact of healthcare costs through a variety of products and services.
These new product packages are much more than an RBP solution as they address most healthcare costs associated with self-funded employers, allowing for an effective long-term solution to healthcare spend. Not only does this include savings on medical and pharmacy, but also offers stop loss coverage options and other risk management solutions. This type of integration allows AMPS to drive savings on more than 90 percent of the benefit expense associated with a self-funded group, saving employers up to $4,000 per employee per year.
“AMPS has always been focused on making healthcare dollars go further for our clients,” said Kirk Fallbacher, AMPS president and CEO. “We are continuously exploring new opportunities for cost-effective solutions and enhanced member experiences. With AMPS’s new spectrum of programs, it allows our clients to discover additional savings while, at the same time, promote high-quality patient care.”
As healthcare costs continue to rise with little to no transparency, AMPS’s new product packages provide employers and their employees true cost savings through innovative approaches and tools that provide clarity into the process.
