Latest addition to leadership team continues expansion of Results-driven, value-based healthcare model across the US
DECATUR, IL (July 24, 2023) – Third-Party Administrator (TPA) Consociate Health today announced Seth Reynolds as the new Regional Vice President for the Southeast Region of the United States. Reynolds, to be based in Tampa, Florida, is the latest in a series of top-level executive hires and promotions by Consociate as they aggressively expand their results-driven, value-based healthcare model providing access at the right place, the right time, the right quality and the right price.
Seth has been with Consociate since 2022 as a Business Development Strategist, and has had other industry experience at Pareto Health and Marsh McLennan Agency. He holds a Bachelor’s degree in Finance from the University of Georgia.
Seth will lead the sales team in building and expanding relationships with consultants and business clients throughout the Southeast.
“Consociate’s growth is focused on developing a team that thrives in our culture of innovation and progress. As we grow nationally, Seth’s expertise will advance our strategy of expanding partnerships across the industry,” said Consociate Chief Growth Officer Mike Castleberry.
Existing partnerships with more employers, consultants, captives and healthcare systems have allowed Consociate to perfect its value-based health plan model using data integration strategies and data driven decision support resources. That success, and the need for more patient-centered service from TPAs industry-wide, continues to drive Consociate’s growth.
For more than 40 years, Consociate Health has partnered with consultants and employers of all sizes to deliver employee benefit program administrative services. As a Third-Party Administrator (TPA), Consociate has built a reputation for exceptional accuracy, customer service and a focus on helping employers with innovative cost containment solutions.
Through data analytics, Consociate provides its clients with personalized analysis of their plans to ensure they have quality data and are using that data to make educated decisions.
Essential data analytics allow Consociate Health to integrate claims, eligibility, financial and other healthcare data into a consolidated system database; analyze member health and then identify cost drivers; monitor health plan utilization; and forecast employer healthcare costs – which allows them to develop a strategy to manage and control healthcare costs for employers and members.
We partner with AIMM to create unique medical management strategies, based on our clients’ culture, population, goals, objectives, and budget. We understand that the most effective, most well received, medical management programs are “Patient Centric”, so through AIMM, we offer evaluation by professional nurses to identify how the quality of health care a patient is receiving can be improved, and/or decrease the cost of the care a patient is receiving.
Contact Consociate Health to learn more.
Pharmaceutical benefits can be a significant cost driver for business owners, accounting for 30-32% of overall healthcare costs.
Consociate Health now offers pharmacy benefit management to our clients by administrating employer drug benefit programs. Within this new division, we will evaluate pharmacy spend, process and pay prescription drug claims. We will advise on cost containment and incentivize prescribing physicians, pharmacists, and plan members to influence decision-making and save you money. Our expertise goes beyond traditional pharmacy benefit management services. Through our knowledge of underutilization and intensity, supply chains, codes and precertification, along with our process of gathering key data sets, we are able to provide solutions based on your unique situation and employees.
To learn more about our value-based benefits, contact Consociate Health today.
The ongoing COVID-19 pandemic has been a notable example of why self-funded health plans make sense for so many employers.
There are numerous advantages to moving from a fully-funded health plan to a self-funded plan – customized plans, control over vendors, fewer taxes, and access to data, to name a few. But one of the most significant benefits is that in a self-funded arrangement, an employer does not pay based an estimated number of claims, but rather pays only on actual claims filed.
Since the beginning of the pandemic and the resulting shutdown, medical claims have dropped across the country. There are a number of reasons for this, including a suspension of elective procedures in many states, hesitation to pursue treatment when hospitals have active COVID patients, and in general people staying home.
Employers with self-funded health plans have experienced considerable cost savings because they are paying only actual claims, which have dropped to substantially from what would be estimated in a ‘normal’ year.
Learn more about why self-funding might be the right arrangement for your business by speaking with your contact at Consociate Health today.