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 Guidewire Software
Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and machine learning to deliver our platform as a cloud service. More than 540 insurers in 40 countries, from new ventures to the largest and most complex in the world, run on Guidewire.
As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,600+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.
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