MSP Recovery, Inc.

The company operates in the healthcare industry, focusing on healthcare data and healthcare claims recovery solutions. Its business is influenced by healthcare spending and the complexity of healthcare data. The company estimates its total potentially serviceable market to be over $161.5 billion annually, with a primary focus on the Medicare and Medicaid market segments. In 2023, Medicare had estimated annual expenditures of approximately $1,029.8 billion for approximately 68.0 million enrollees, while Medicaid had combined estimated annual expenditures of approximately $871.7 billion for approximately 88.5 million enrollees. The company estimates that at least 10% of the billions spent yearly by Medicare on medical expenses for its beneficiaries were improperly paid by private Medicare plans. The Centers for Medicare & Medicaid Services (CMS) reported that the U.S. National Health Expenditure (NHE) grew 7.5% to $4.9 trillion in 2023, accounting for 17.6% of GDP, with Medicare and Medicaid expenditures making up $1.9 trillion of this. As of December 31, 2024, approximately 95.9% of the company's expected recoveries originate from claims filed under the Medicare Secondary Payer (MSP) Act.