carve out something meaning: to create or obtain something that helps you by skillful activities: . Definition of carve out a niche in the Idioms Dictionary. Carve-Out Meaning. 2. A spin-off, split-off, and carve-out are different methods a company can use to divest certain assets, a division, or a subsidiary. Carve-out When the pharmacy carve-out approached is used, employers contract directly with a PBM vendor to administer their pharmacy benefits program. A carve-out refers to a business unit or units that are spun off, or "carved out," out of a larger company or companies. Many companies, from large Fortune 500s to small and medium-sized business, are carving out pharmacy benefits — and for good reason. Definitions by the largest Idiom Dictionary. A pharmacy carve-out is typically used under the self-insured model. Literally, to remove the inner part of an object. Usually these business units have existing management and customers in place, but there is a catalyst that encourages the larger company to divest. Sometimes, self-insuring employers can isolate specific risks and use a third party vendor to cover them. Spin-Off vs. Split-Off vs. Carve-Out: An Overview . Avoid Surprise Carve-Outs: Many pediatricians and parents are surprised at what some health plans carve out as "mental health." The first step in this recipe is to carve out your fruit and dispose of the seeds. What does carve out a niche expression mean? If behavioral health is "carved out," the pediatrician will have to send a bill for the flu vaccine to the child's health insurance plan and a separate bill to the mental health benefits plan for the ADHD treatment. 7 synonyms of carve (out) from the Merriam-Webster Thesaurus, plus 33 related words, definitions, and antonyms. A noun or pronoun can be used between "carve" and "out." They made canoes by carving out big logs. Carve-outs occur on two levels of the medical insurance business. Carve (out): to … Carve-out refers to the business strategy wherein a parent company decides to partially divest one of its business units by selling minority interest of the subsidiary to an outside investor or a group of investors. Subscribe to our free daily email and get a new idiom video every day! Carve-Out Plan: Definition. Like this video? In 2015, PBMI reported 77% of smaller employers and 93% of … The third party vendor will assume financial risk and receive a flat fee from the company in exchange for coverage. carve out 1. Carve-outs occur at the payer level and the plan level. A pharmacy carve out is when employers separate, or carve out, their prescription drug benefits from their major medical plans to contract directly with a PBM. Learn more. carve out a niche phrase. Find another word for carve (out). 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