San Diego-based Mitchell International Inc., a provider of technology, connectivity and information solutions to the property and casualty claims and collision repair industries, has acquired Texas-based Fairpay Solutions, a leader in workers' compensation, liability and auto cost containment and payment integrity services.
The acquisition will expand Mitchell's solution suite of bill review and out-of-network negotiation services, and complements its acquisition of National Health Quest (NHQ) in 2012. The terms of the transaction were not disclosed.
Fairpay Solutions provides customers with its bill review solution that delivers jurisdiction-specific savings on medical charges from high-value bills. The company's proprietary methodology incorporates data assets from more than 20 public and proprietary databases containing cost, charge, and accepted payment data for over 300 million medical transactions. Fairpay Solutions also provides out-of-network negotiation services, known as Knowledgeable Provider Negotiation (KPN), for instances where specialty bill review does not apply. As a result, Fairpay Solutions services can provide significantly increased savings for high value, complex medical bills, achieving additional discounts after bill review of up to 55 percent for clients.
In concert with Mitchell's NHQ product, Mitchell plans to offer Fairpay Solutions specialty bill review to both the auto and workers' compensation markets, along with out-of-network negotiation services. Mitchell will maintain relationships with other bill review and negotiation service providers as well, in order to offer Mitchell clients the service options that are best suited to their needs. Mitchell has no immediate plans to change its relationships with its bill review and negotiation service partners.