HealthLeaders Media June 24, 2021
In a market that continues to see significant growth in catastrophic claim costs, provider organizations, health maintenance organizations (HMOs) and other health plans that want to protect their bottom line from the potential financial loss associated with these often multimillion-dollar challenges should consider excess risk coverage.
What’s Creating the Coverage Need?
The most visible cost-driving issue facing the reinsurance industry today is the continued advancement of cell and gene pharmaceutical therapies, which are being rapidly created and released with the intention of potentially helping to cure cancer, blood disorders and many rare diseases. Their costs can range from $500,000 to more than $2 million per treatment, which creates financial risk.
And the pharmacy pipeline is incredible, so this cost risk is...
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