Carisk® Partners Completes Acquisition of Advanced Claims Review Specialists (ACRS)

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Enhances Medical Cost Containment for Workers’ Compensation

MIAMI, 13 December 2022–(BUSINESS WIRE)–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.

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Carisk Partners Announces Acquisition of Advanced Claims Review Specialists. ACRS is a medical cost containment firm. (Graphic by Business Wire

“Rising healthcare prices, a combination of wage inflation, investments in new technology and specialty drugs, are causing hospital and medical bills to reach 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 founded in 2016 to meet the growing demand for medical cost containment. ACRS’s mission is to offer superior services using a highly skilled, credentialed and dedicated staff. They use industry-leading software and clinical dialogue 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. Combining our industry-leading programs with networks will make us unrivaled in the market.

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 reduce medical costs wherever we can, and this is an area where we believe 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 Learn more

ACRS

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. ACRS was established in 2016 as a separate company. It was founded after seeing the increasing demand for medical cost containment services. The company uses evidence-based analysis of medical records, medical bills, and itemized costs. ACRS is committed to providing superior and unrivaled services by a highly skilled, credentialed and dedicated staff of professionals. We use clinical dialogue and industry-leading software to build trust and maximize savings. Visit www.acrsreviews.com Learn more

MBF Healthcare Partners II L.P.

MBF Healthcare Partners II L.P. is a premier middle-market healthcare private equity fund, based in Coral Gables. MBF Healthcare Partners II, L.P. is a leading middle market healthcare private equity fund. We partner with outstanding management teams and leverage MBF’s domain segment knowledge, operating experience, tenured relationships, to quickly accelerate value creation. MBF partners have extensive operating experience in healthcare, and have held senior managerial positions in private and publicly traded healthcare businesses. MBF principals have managed and helped build some of the nation’s most innovative and successful healthcare companies. Visit www.MBF.com for more information. www.mbfhp.com.

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Contacts

Christine Gaul
Carisk Partners
[email protected]

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