Sunwest Bank faces the challenge of aligning its innovative and entrepreneurial approach with an efficient healthcare plan. Previous experiences with reference-based pricing (RBP) vendors were heavily influenced by the relationship with their third-party administrator (TPA). Looking to change their TPA and the need for a cohesive and streamlined strategy, Sunwest Bank began exploring alternative RBP partners.
AMPS became an ideal partner for Sunwest Bank because of our transparency, user-friendly reporting, and strong collaborative relationship with the bank’s TPA. Through our RBP model, common errors in medical bills were rectified. Claims were repriced fairly at a percentage of Medicare rates, resulting in low balance bills.
Since partnering with AMPS in 2021, Sunwest Bank has seen significant changes in their healthcare expenses. The initial billed charges in 2022 amounted to $1,557,564. AMPS reduced these charges through strategic negotiations, resulting in an adjusted amount of $350,337—an impressive 77.5% discount through RBP. This reduction equates to substantial savings totaling $1,207,227