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.
Healthcare as a Performing Asset
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.
Why Self-Funding Paid Off During Shutdown
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.
Celebrating Our 25th Anniversary
2020 marks our 25th anniversary! Founded in Decatur in 1995 by Danny R. Reynolds, Consociate Health is a Third Party Administrator (TPA) that administers employee benefit programs, including claims administration, for employers and members in 48 states. As industry innovators, we have been recognized in medical and Flexible Spending Accounts (FSA) administration, health management, wellness program initiatives, and Affordable Care Act (ACA) compliance and consulting.
Consociate Health has grown to 80 employees today with staff in two Illinois locations, along with Indiana, Michigan, Missouri, Tennessee, and Florida. Consociate Health currently serves approximately 75,000 covered lives for 235 employer groups (Medical and FSA). In 2019, nearly $500 million in medical claims were processed with a 99.77% financial dollar accuracy rate, well above the industry average.
Consociate Health has been working diligently to address the extraordinary escalation of healthcare costs by partnering with our clients to develop custom and comprehensive care management programs. Consociate Health works with clients on medical plan design and cost containment opportunities including Wellness Programs, Custom Precertification, Utilization Review, Chronic Disease Management, Cancer and Dialysis Claim Management, Predictive Modeling and Pharmacy Benefit Management. Consociate’s goal is to become a partner in managing an employer’s healthcare budget and improving the health and productivity of their employees. We look forward to the next 25 years!
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