December 13, 2022
Miami, FL — Carisk Partners (Carisk), an MBF Healthcare Partners II LP (“MBF”) portfolio company providing specialty risk transfer and care coordination services in the workers’ compensation market, is pleased to announce the completion of its acquisition of Advanced Claims Review Specialists (ACRS), a medical cost containment company utilizing evidence-based analysis of medical bills and records. The acquisition enhances Carisk’s ability to manage the costs of billed charges related to the clinical management of workers’ compensation catastrophic cases.
“Rising healthcare costs driven by wage inflation, specialty drugs and investments in new technology, are forcing medical and hospital bills to record levels. The workers’ compensation industry has typically been subject to cost shifting by providers because of low reimbursement from Medicare, Medicaid, and Commercial payors. The addition of the talented team, and industry leading cost containment programs from ACRS, to the Carisk family will positively impact our clients’ efforts in this area,” said Joseph Berardo, Jr, Carisk Partners Chairman and CEO.
ACRS was formed in 2016 after seeing the growing needs in the medical cost containment industry. The ACRS mission is to provide superior services through a highly experienced, credentialed, and dedicated staff of professionals using clinical dialogue and industry leading software to build trust and maximize savings. Phil Grupp, ACRS’s Vice President, adds, “I am excited for the union of our companies and look forward to bringing our customers additional value through cost containment services that are greatly needed in the marketplace. The combination of our market leading programs and networks will be unmatched in the industry.”
Kevin Mahoney, Carisk’s President and Chief Operating Officer, adds, “Integrating the ACRS hospital and medical fee negotiation program with Carisk’s industry leading surgical implant management program will greatly enhance our utilization management and analytical capabilities. Our goal is to manage all areas of medical cost containment for our clients where we can improve overall savings, and we believe this is one area we can positively impact.”
About Carisk Partners
Carisk Partners is a specialty risk transfer and care coordination company operating in the workers’ compensation market serving insurers, government entities, self-insured plan sponsors and managed care organizations. Since 2016, Carisk Partners has redefined the way patients and clients access high quality care and support services in the workers’ compensation marketplace. Today, Carisk continues to transform the workers’ compensation and group health markets by providing seamless experiences across all products and services and empowering patients through its proprietary Pathways™ 2 Recovery care model. Visit www.cariskpartners.com to learn more.
Advanced Claims Review Specialists (ACRS), formally known as Woodall & Broome Hospital Bill Negotiations & Claims Review Services, was an extended service of Woodall & Broome Anti-Fraud and Compliance Company. In 2016 ACRS was formed as its own company after seeing the growing opportunity to fill expanded needs in the medical cost containment industry utilizing evidence-based analysis of medical bills, records, and itemized charges. The ACRS mission is to provide superior and unrivaled services through a highly experienced, credentialed, and dedicated staff of professionals using clinical dialogue and industry leading software to build trust with clients and providers to maximize savings. Visit www.acrsreviews.com to learn more.
About MBF Healthcare Partners II, L.P.
MBF Healthcare Partners II, L.P. is a leading middle market healthcare private equity fund based in Coral Gables, Florida. Our strategy is to partner with exceptional management teams while leveraging MBF’s operating experience, domain segment knowledge, and tenured relationships to rapidly accelerate value creation. The partners of MBF have substantial operating experience in healthcare and have held senior management positions in both private and publicly traded healthcare companies. MBF principals have managed and helped build some of the nation’s most innovative and successful healthcare companies. For more information, please visit www.mbfhp.com.