The No Surprises Act was supposed to allow fair payments to out-of-network air ambulance providers while shielding patients from unexpected medical bills for these life-saving transports.
However, less than two years since the act went into effect, the independent dispute resolution program has been shut down to new air ambulance claims for an indefinite amount of time, leaving no way to challenge low payments from insurers and health plans.
As the shutdown nears its third month, national air ambulance provider Air Methods Corp. has filed for bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas, citing the No Surprises Act as a major contributor to its financial troubles. Its filing demonstrates the urgent need to reopen the IDR program for air ambulances.
Read the full Law360 article, "Air ambulance Ch. 11s show dispute program must resume."
Publication
After a lacklustre finish to 2022 when compared to the vintage year for M&A that was 2021, dealmakers expected 2023 to see the market continue to cool in most sectors, in response to the economic headwinds of rising inflation (with its corresponding impact on financing costs), declining market valuations, tightening regulatory scrutiny and increasing geopolitical tensions.
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