2024 Sanderson Firm Year in Review
As 2024 concludes, I want to thank our valued clients, vendor partners, colleagues, employees, and subscribers for the continued support and partnership of Sanderson Firm. Because of your support and confidence in us, 2024 reflects another year of significant growth in our client base nationwide, spanning Fortune 100 self-insured companies, insurance carriers, third-party administrators as well as governmental entities for Medicare Secondary Payer (MSP) compliance services.
In 2024, our demand for services skyrocketed by 65% over 2023 across Medicare Set-Asides, Medicare Conditional Payment Service as well as Section 111 Reporting/Audit and legal services. Overall, Sanderson Firm achieved 55% top-line growth in 2024 over 2023, and we are proud to be known as one of the fastest growing MSP compliance providers in the industry. To say that we are immensely grateful for our clients’ support in helping us achieve this momentous traction as we head into 2025 would be an understatement.
Additionally, we are thrilled to have launched two one-of-a-kind fully virtual educational courses via MSPCollege in 2024 in collaboration with our partners at WorkCompCollege.com: Medicare Secondary Payer Accreditation (MSPA) and Medicare Set-Aside Certified Planner (MSACP). We felt that the MSP industry needed these specific MSP certifications, which can be taken completely at a student’s own pace and fully virtual. Both programs have received a great number of registrants, and we are excited to continue to add content and fully flesh out MSPCollege in 2025 with more great educational content.
Another achievement in 2024 for Sanderson Firm was receiving our national certification as a Women's Business Enterprise (WBE) by the Women's Business Enterprise Council Florida, a regional certifying partner of the Women's Business Enterprise National Council (WBENC).
Lastly, the Sanderson Firm team is proud of numerous other achievements and the cost savings that we brought forth for our clients in 2024, which we believe has been much of the reason for the continued demand for our services.
On the Medicare Set-Aside (MSA) front, with our Evidence Based MSA (eMSA)/Indemnified MSA (iMSA), we saved our clients almost $40 million dollars over traditional Workers’ Compensation Medicare Set-Asides (WCMSAs), which was on average a 59% reduction. Additionally, to further assist our clients in saving costs on MSAs, we identified over $10 million dollars in savings that could be obtained via clarification/outreach of the Medicare beneficiary’s treatment with its providers.
We consultatively assisted our clients settle Medicare beneficiary claims more quickly, and our attorneys continued to be on standby for calls as needed to help our clients achieve settlement. Our clinical team evaluated every MSA for cost containment opportunities and conducted physician outreach if needed. The combined clinical and legal advocacy approach to our MSAs at Sanderson Firm is unique in the industry and provides the very best and most precise defensible allocation.
On the Medicare conditional payment sphere, we saved our clients $7.2 million dollars with our conditional payment disputes across traditional Medicare, Medicare Advantage Plans, and Prescription Drug Part D plans, with an average reduction of 90.3%. We had impressive wins on our disputes with Medicare, with 98% of disputes/appeals being deemed fully favorable. Sanderson Firm achieved 100% favorable results on appeals filed with the Department of Treasury.
On the Section 111 Reporting side, we took over/became the Reporting Agent for numerous Responsible Reporting Entities (RREs), via our proprietary Section 111 solution, SandersonComply. We additionally performed Section 111 audits for numerous RREs, to assist in identifying compliance issues, which is even more important now with the Centers for Medicare & Medicaid Services (CMS) issuing their Final Rule on Section 111 civil money penalties.
Further, this year Sanderson Firm achieved successful completion of a SOC 1 Type 2 report which verified Sanderson Firm’s fair presentation of organizational controls and design effectiveness of how such organization controls are implemented. Lastly, we enjoyed keeping our clients abreast of the latest MSP developments via our webinars and blogs and will continue to provide this thought leadership in 2025 and beyond.
Going into our fifth year in business in 2025, I am energized about Sanderson Firm continuing to expand its reach and to advocate for our clients in achieving cost-effective and simple guidance on achieving Medicare Secondary Payer compliant settlements.
Based upon increased compliance initiatives by CMS in 2024, no doubt that 2025 will be another busy year for those in the MSP industry. However, I’m confident that together we can successfully navigate all the twists and turns and continue to provide innovative and unmatched MSP compliance services. Thank you for the trust you place in us to do our part and thank you for your business and continued partnership.
Wishing you all the best for a strong, healthy, and happy end to 2024, and cheers to the journey ahead of us in 2025.
Heather Sanderson
Founder and CEO
