FRESNO, Calif.--(BUSINESS WIRE)--HealthComp, a leading health benefits administrator, today announced its growth in the hospital and health systems market. HealthComp currently serves 75,000 members in this space, representing 20% of its book of business. In February, it launched preferred partnerships with two of California’s largest health systems to administer their Accountable Care Organization (ACO) plans. These partnerships will add approximately 80,000 more members over the next two years.
“Our overall mission is to transform benefits administration, simplify the member experience, improve patient health and change lives,” said Jose Rivero, CEO of HealthComp. “Accomplishing this requires an innovative approach. Our technology and care management teams work in sync with our other departments. This creates synergies and allows us to offer a comprehensive benefits solution that delivers savings, prevents claims, and fosters member engagement.”
“Hospitals and health systems have unique requirements, and this recent expansion is a testament to our ability to meet and exceed those needs,” said Keri Dixon, Executive VP of Product & Account Management at HealthComp. “Unlike other groups, health systems have physicians, clinical staff and facilities comprising their own domestic network. We help design a multi-tier approach that offers choice and simultaneously steers members to the tier-1 domestic network when appropriate.”
HealthComp offers customized solutions for hospitals and health systems based on:
- Managing the needs of their multi-tier networks and offering the ability to customize domestic networks and upload custom fee schedules
- Withholding claim payments to improve cash flow for organizations
- Achieving an outstanding rate of tier-1 network steerage – upwards of 80% for HealthComp’s largest customers in this space
- Offering a broad tier-2 wrap network with access to the nation’s leading PPO networks
Hospitals and health systems also choose HealthComp for its ability to deliver a member experience that is cohesive, personalized and engaging. HealthComp fosters this experience through best-in-class technology, such as its HCOnline member portal, and via multiple customer communication channels. HealthComp’s Benefits Assistants, who answer calls and online chat messages from customers, are seasoned professionals who receive plan-specific training so they can answer questions quickly and accurately.
“All of this translates into a better experience for HR and benefits administrators,” added Dixon. “They don’t have employees walking into their department with complaints. Instead, their plans run smoothly. We provide them with custom dashboards so they can monitor their plan performance and address gaps in care, such as unnecessary use of outside facilities.”
“In addition to our comprehensive programs, we can also facilitate ‘hybrid’ care management models, where we closely collaborate with a health system’s internal staff,” said Karen Williams, RN, Care Management at HealthComp. “For instance, with one of our customers, we work hand in hand with their medical director to streamline the utilization review and pre-certification processes.”
With these many benefits, HealthComp has helped hospitals and health systems achieve significant ROI. From 2016 to 2019, the average cost trend for its book of business in this market was 1.9% – whereas the industry average was 5.8% for the same period. And for one large California health system, it achieved $3.3 million in utilization review savings in just one year.
About HealthComp Holdings
For more than 35 years, HealthComp Holdings has been dedicated to transforming benefits management into an experience that employees and employers love. Bringing together concierge-level service, operational excellence, powerful analytics and cost management, we’ve built a solution that integrates seamlessly with any benefits ecosystem. HealthComp has offices in Fresno, California, and Chicago, Illinois.