MultiPlan

The MultiPlan Health Insurance Provider Litigation consolidates claims brought by healthcare providers against MultiPlan and a group of major health insurers, alleging that the companies used a shared data and pricing platform to coordinate below-market reimbursement rates for out-of-network care. Centralized before Judge Matthew F. Kennelly in the Northern District of Illinois in August 2024, this is the largest docket in this group by volume — 153 actions are currently pending — reflecting how many individual provider plaintiffs and provider groups have filed suit over the same alleged conspiracy.

That volume changes the funding calculus. A docket of this size, built around a common alleged mechanism applied uniformly across insurers, tends to generate a more standardized claim file across plaintiffs than a scattered consumer class — provider plaintiffs generally have their own billing and reimbursement records supporting claim value, which supports earlier claim-level diligence than in docket types where damages depend entirely on a yet-to-be-built expert model. That does not mean pricing is straightforward: with pretrial proceedings still working through dispositive motions and class-certification issues, actual recovery amount and timing remain contingent on rulings that have not yet issued.

For law firms and provider groups carrying meaningful inventory of these claims, portfolio-level finance is a natural fit given the scale and common-conduct structure of the docket — a funder can underwrite a pool of similarly situated provider claims against a shared alleged mechanism more efficiently than claim-by-claim. This is a commercial reimbursement dispute rather than a personal-injury matter, so there is no medical-lien component; the relevant collateral is the provider's underlying billing and reimbursement claim against the payers.

Criterica Capital's commercial litigation finance product, together with portfolio finance structuring for firms holding a meaningful volume of provider claims, fits this docket well. A structure and litigation brief on the case's procedural posture is also available for teams pricing capital ahead of the next round of dispositive rulings.

Pre-settlement funding is a non-recourse purchase of a portion of the proceeds of a pending legal claim — not a loan. If the case does not result in a recovery, nothing is owed. Rates, fees, and repayment terms are disclosed in full in the funding agreement, which the applicant’s attorney reviews before signing. Availability and terms vary by state.