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Hello. I'm Keith Kelly and I'm happy to talk to you about the US payer landscape on behalf of Henry Stewart Talks.
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The term payer is the title of the talk and is itself confusing. It can be used to refer to a variety of US healthcare industry stakeholders who determine patient access to therapies. It's used to apply to these different stakeholders the term payer. This slide has the funders. These are the sources of payment for insurance coverage. What's important to note here is that roughly 50% of your coverage comes from commercial insurance providers, these are your MCOs and your payer-like IDNs, and about half of it comes from government sources like the Center for Medicare and Medicaid Services as well as the VA and DoD.
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This slide covers Managed Care Organizations. These are the organizations that administer health plans and the five largest of these organizations represent more than 40% of the 314 million covered lives in the United States. What has happened in the last 10 years is that there's been tremendous consolidation among the Managed Care Organizations arriving at that greater than 40% represented in the top five figure. Here are the top five US health insurers. They are United Health Group, Elevance Health, Aetna, Cigna and Humana. What has changed in terms of accessing these payers if you're bringing a product or a technology to them is that, historically because the US Healthcare System was fragmented, you could afford to win some payers and lose some payers. Now with these payers having so many covered lives within their benefits, you really have to try to reach each and every one of these payers and have them approve or decide to reimburse your technology. Let's talk about the other half of US enrollment in

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