MSP Recovery, Inc.

MSP Recovery, Inc. operates in the healthcare industry, focusing on healthcare data and claims recovery solutions. The company's primary focus is on the Medicare and Medicaid market segments. It estimates its total potentially serviceable market to be over $161.5 billion annually. 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. MSP Recovery, Inc. 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 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 total. Health spending is projected to grow at an average rate of 5.6% a year between 2023 and 2032, with NHE estimated to equal 19.7% of GDP by 2032. The company believes that as reimbursement models become more complex and healthcare coverage increases, the complexity and number of claims may also increase, potentially impacting demand for its solutions. As of December 31, 2024, approximately 95.9% of MSP Recovery, Inc.'s expected recoveries originate from claims filed under the Medicare Secondary Payer (MSP) Act.