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