Solution helps insurers avoid costly penalties through timely identification of Medicare beneficiary claimants
BRADENTON, Fla. and SAN MATEO, Calif. – May 19, 2020 – Franco Signor LLC, a leader in Medicare Secondary Payer (MSP) Compliance, and Guidewire Software, Inc. (NYSE: GWRE), provider of the industry platform Property and Casualty (P&C) insurers rely upon, today announced that Franco Signor has joined Guidewire PartnerConnect as a Solution partner. The companies also announced that Franco Signor’s Ready for Guidewire validated accelerator is now available to insurers in the Guidewire Marketplace.
The US Medicare Secondary Payer (MSP) Act was passed to protect the Medicare fund from paying claims that are the responsibility of other payers and requires insurers to identify and report casualty claims that involve Medicare beneficiary claimants. Over the past 20 years, the MSP Act has saved US taxpayers more than $100 billion (Medicare Insights). Due to the continuing growth of Medicare beneficiaries, Medicare is expected to become significantly more aggressive about recouping payments it is not responsible for. Franco Signor has developed MSP Comply to assist insurers in fulfilling their legally required reporting obligations and avoiding costly civil monetary penalties.
Franco Signor’s MSP Comply Ready for Guidewire integration with Guidewire ClaimCenter provides front-line claims adjusters prompts and alerts in real-time. These prompts guide them to provide optimal information, correct errors, and take actions that avoid financial penalties, double damages, and settlement negation allowed by the Medicare Secondary Payer Act. MSP Comply leverages API data exchange for immediate feedback for correction and increases compliance unlike older Electronic Data Interchange (EDI) file transfers that delay the delivery of required steps and information to the front-line adjuster.
“Franco Signor’s mission is to help insurers navigate the complex guidelines and requirements of MSP compliance,” said John Williams, chief executive officer, Franco Signor.
“Our Ready for Guidewire integration will enable insurers to leverage real-time API information exchange to immediately deliver prompts and alerts to their front-line adjusters to mitigate MSP compliance exposures such as double damages, civil monetary penalties, and Medicare interference with settlement agreements.”
With Franco Signor’s MSP Comply integration for ClaimCenter, insurers can:
- Leverage Franco Signor’s expert guidance with prompts and alerts to meet MMSEA (Medicaid & Medicare SCHIP Extension Act of 2007) compliance;
- Streamline and expedite adjusters’ work with instant feedback on any errors contained in claim files; and
- Meet insurers’ unique operational needs due to its flexibility.
“We welcome Franco Signor as our latest Guidewire PartnerConnect Solution partner and are pleased to offer our joint clients access to their proven MSP compliance solution in the Guidewire Marketplace,” said Neil Betteridge, vice president, Strategy, Guidewire Software. “This integration provides claims teams with a solution that reduces risk and increases compliance through timely, accurate identification of Medicare beneficiary claimants.”
About Franco Signor
Franco Signor is the leader in Medicare Secondary Payer (MSP) Compliance. We deliver comprehensive MSP Compliance solutions to the largest employers, insurers, and third-party administrators in the United States. Our unmatched ability to mitigate Medicare compliance exposures for both primary plans and Medicare beneficiaries has made us the country’s leading provider of MSP compliance solutions. Franco Signor’s proprietary solution leverages sophisticated technology and deep industry experience to deliver best-in-class services including: Mandatory Insurer Reporting, Conditional Payment/Lien Resolution, Medicare Set-Aside Allocations, and Post-Settlement Administration. For more information, please visit https://www.francosignor.com/.
About Guidewire PartnerConnect and Ready for Guidewire
Guidewire PartnerConnect is a global network of select companies that provide consulting services and solutions to enhance, extend, and complement the capabilities of Guidewire products. Our worldwide community helps contribute to the success of our mutual customers in the P&C insurance industry by delivering Guidewire software implementations, value-add solution and technology offerings, and guidance on insurance industry best practices.
Guidewire PartnerConnect Solution partners provide software, technology, and data solutions as well as insurance support services. Our solution partners help drive business value by developing and delivering additional integrations, extensions, and other complementary solutions for Guidewire products. Guidewire PartnerConnect is an invitation-only program. For more information about Guidewire PartnerConnect please visit http://www.guidewire.com/partners/.
About Guidewire Software
Guidewire delivers the industry platform that Property and Casualty (P&C) insurers rely upon to adapt and succeed in a time of accelerating change. We provide the software, services, and partner ecosystem to enable our customers to run, differentiate, and grow their business. As of the end of our fiscal year 2019, we were privileged to serve more than 380 companies in 34 countries. For more information, please visit www.guidewire.com and follow us on twitter: @Guidewire_PandC.
Guidewire Software, Inc.
Vice President, National Accounts
Franco Signor LLC