MSP Recovery (NASDAQ:LIFW) (NASDAQ: LIFW) is a specialized healthcare cost recovery firm that assists a wide range of clients in recouping medical expenses from third parties, including Medicare, Medicaid, and other insurers. The company’s core business revolves around Medicare Secondary Payer (MSP) compliance and subrogation services, where it identifies instances in which government or private payers have paid for medical treatments that are the responsibility of liable third parties. Leveraging proprietary data analytics and a team of regulatory experts, MSP Recovery helps health plans, self-insured employers, governmental entities, and law firms navigate complex recovery processes and maximize return on paid claims.
Founded in the early 2010s, MSP Recovery has grown through both organic expansion and strategic acquisitions to broaden its service offerings and geographic footprint. The firm operates across the United States, maintaining offices in key regions to serve diverse client needs from initial claims intake to legal resolution. Over time, the company has expanded beyond classic subrogation work to include specialized services such as conditional payment auditing, workers’ compensation cost recovery, and coordination of benefits solutions tailored to public and private payers.
In addition to its core subrogation and compliance work, MSP Recovery provides consulting services to help clients address regulatory challenges and implement robust recovery programs. The company leverages a combination of automated workflows, scores of industry-specific experts, and a national network of legal partners to handle every stage of the recovery lifecycle. This end-to-end approach enables clients to outsource critical administrative functions while maintaining transparency through real-time reporting dashboards and dedicated account management.
MSP Recovery is led by an experienced management team with deep roots in healthcare, insurance, and legal services. Its executive leadership emphasizes innovation, regulatory excellence, and client service as cornerstones of the business. By continually investing in technology and talent, the firm aims to stay ahead of evolving healthcare regulations and deliver sustainable value to its growing roster of institutional clients.
