What You Should Know:
– Verisk acquires Franco Signor, a Bradenton, FL-based full-service provider of MSP compliance software and services for $160M.
– Property/casualty insurers, self-insureds, and TPAs will benefit from the most comprehensive suite of fully integrated Medicare compliance solutions and greater access to the nation’s top Medicare experts.
Verisk, a data analytics provider, announced today that it has acquired Franco Signor, a Medicare Secondary Payer (MSP) service provider to America’s largest insurance carriers and employers. As part of the acquisition, Franco Signor will become part of Verisk’s Claims Partners business, a leading provider of MSP compliance and other analytic claim services. Claims Partners and Franco Signor will be combining forces to provide the single best resource for Medicare compliance.
“We are excited to join Claims Partners in order to provide integrated solutions and enhanced support to claims professionals,” said John Williams, chief executive officer of Franco Signor. “Becoming part of the Verisk family will enable us to offer added value to our current customers through advanced analytics.”
Acquisition Benefits for Verisk
While Claims Partners and Franco Signor have both delivered valued Medicare compliance services for decades, their approaches are very complementary. With the addition of Franco Signor’s offerings to Claims Partners’ MSP compliance suite, Verisk now offers the broadest range of Medicare solutions powered by its sophisticated analytics and the highest quality data available. With the synergies resulting from the acquisition, the industry will benefit from flexible service levels that fully support insurers, self-insureds, and third-party administrators (TPAs) in their compliance needs throughout the life of a claim, as well as the industry-leading quality and service for which Claims Partners is known.
The comprehensive Medicare compliance suite includes highly accurate Section 111 reporting with flexible service that is tailored to the way insurers and TPAs do business, including automated conditional payment processing, and a full range of Medicare Set-Aside (MSA) services including professional administration. In addition to full compliance support, including First Report of Injury (FROI)/Subsequent Report of Injury (SROI) and other Electronic Data Interchange (EDI) reporting, claims professionals can avail themselves of Claims Partners’ robust analytic solutions for workers’ compensation and liability claims and can leverage litigation analytics for improved claim results, as well as Verisk’s more comprehensive claim offerings which include fraud detection, investigation resources, subrogation support, and more.
“We’re pleased to add Franco Signor’s well-regarded capabilities to Verisk’s strong offerings in the Medicare space,” said Mark Anquillare, chief operating officer of Verisk. “We anticipate that this acquisition will have substantive long-term advantages for the industry, as Verisk will now be able to offer unparalleled guidance and an all-inclusive solution suite for all aspects of an insurer’s Medicare compliance needs.”