FOR IMMEDIATE RELEASE
BURLINGTON, MASSACHUSETTS—October 6, 2020—Chronovo, Inc. is extending its ability to support carriers, TPAs and injured individuals with a new path to settlement with the launch of ChronovoCareTM, a first-of-its-kind, 3-in-1 medical savings program for prescription medicine, medical equipment and surgical procedures that is offered by no other structured settlement broker.
ChronovoCare was developed to provide a new level of consumer simplicity, flexibility, freedom of choice and tangible savings. It reflects the company’s singular expertise for innovation that benefits all parties in the settlement process.
This is the first program to combine three critical aspects of healthcare into a single, unrestricted savings solution.
ChronovoCare’s “Smart Savings3” provides:
- As much as 80% off prescription drug prices at 35,000 pharmacies nationwide
- Up to 60% off surgeries, procedures and rehab services with any doctor, hospital or facility
- From 15% to over 50% off medical equipment, supplies, tests, treatments and therapies
“At a time when new vulnerabilities and persistent injustices have stalled our economy, reshaped our culture and challenged our consciousness, we are all focused on the basics. Healthcare—fairly priced for all—is critical for everyone,” Chronovo CEO Ken Paradis said.
Equity underlies ChronovoCare, which is an entirely free program with no membership fees, no minimums and no requirements. Members can take advantage of significant discounts on almost all of their medical costs and they are free to select their favorite brands, their local pharmacies and, most importantly, their own doctors.
While borne from the practical challenges of medical costs arising from personal injury claims, ChronovoCare assists anyone with the high costs of medical care. Despite the Affordable Care Act, 30% of Americans fail to take prescription drugs as directed because of costs and 65 million Americans are saddled with medical debt in excess of 10% of their income.
“We want to lighten the medical cost burden for everyone. We are proud to introduce ChronovoCare for the benefit of all working through the daunting challenges of the here and now. We can’t wait to see its impact. We hope to develop a loyal membership and expand the product to meet our customers’ evolving needs,” Paradis said.
ChronovoCare is an extension of Chronovo’s work as structured settlement providers.
“Our structures fund and secure the settlement; ChronovoCare empowers the injured individual to access the care they want at the prices they need—whether or not they structure. Our new offering further maximizes the value of each dollar in a settlement. We created ChronovoCare for the people we work with every day,” Paradis said.
ChronovoCare’s Executive Director Jake Kelly adds that access to medical “savings without compromise” is the next step in Chronovo’s evolution not only because it assists the injured individual, but also because it helps carriers, self-insureds and TPAs present a no-cost, practical alternative to professional administration.
“ChronovoCare expands the value of the settlement offer at no cost and helps deliver on the fundamental promises of a settlement,” Kelly said. “For the vast majority of injured individuals who reject post-settlement professional administration, we provide access to critical medical savings without any of the costs, restrictions, or commitments that can derail settlement discussions.”
In addition to offering compelling, transparent pricing, ChronovoCare also provides real-time access to a team of multi-specialty medical professionals who support purchasing decisions and ensure that members receive the highest quality products and services at the best pricing. ChronovoCare tracks and itemizes all spending for any record-keeping purpose, including the self-administration of an MSA.
Chronovo, Inc. represents a comprehensive restructuring of the structured settlement industry so more people can realize their intended value. Bolstered by our proprietary technology, our nationwide team of multi-disciplinary professionals brings clarity and enhanced value for all parties in claims of all sizes.
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