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Click here to read full article on 83 Degrees Media | Reporter: Paul Catala

It wasn’t only the warm weather and a favorable business tax structure that brought BeniComp Health Solutions from Indiana to Tampa; it was also the company’s effort to form the world’s first city-based wellness district.
 
In 2014, BeniComp opened an “innovation office” in Tampa, bringing what the company calls “the future of health insurance” to Central Florida.
 
BeniComp is a 58-year-old, 50-state Third Party Administrator and health tech company that uses health insurance to help advance the healthcare system. The company provides group health plans for employers, focusing on the root causes of diseases and the skyrocketing costs of healthcare.

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2020 08 24 spectrum baynews9 benicomp 1090

Click here to read full article on Bay News 9 | Reporter: Dave Jordan

HILLSBOROUGH COUNTY, Fla. - Four years ago, Fort Wayne-Based BeniComp Health Solutions relocated to downtown Tampa. The company expanded its staff and put down new roots in an East Kennedy office building.

But these days, all of BeniComp’s 30 employees included President Steve Presser are working from home.

“We were 100% in office,” said Presser. “It had been part of our tradition to always be an in-office collaborative team, and when COVID hit that changed everything.”

Benicomp joins a growing list of companies including Facebook, Google and Twitter that are allowing its workers to telecommute indefinitely amid concerns of Covid-19 contagion.

“Nobody has a crystal ball,” said Presser. “We don’t know how long this will go so what we’ve done we’ve made a commitment to virtual.“

Click here to read the full story by Innovation & Tech Today

Jaime Gallo Director of Product Development demonstrating Pulse

...One such technology that is already revolutionizing health insurance is IncentiCare, a group health insurance plan from TPA administrator, BeniComp Health Solutions. BeniComp, an InsureTech company and 58-year-old startup in Tampa, has radically been transforming healthcare by saving employers millions of dollars while providing smart solutions that improve the health of populations. Applying COVID-19’s horrific impact on our nation, BeniComp has announced its newest health plan, IncentiCare, that has quickly become a proof-of-concept for reformation of the nation’s healthcare system.

We spoke with Doug Short, CEO of BeniComp, who took over the business in 1980 from his father, Don, who started the company back in 1962. Originally located in Fort Wayne, Indiana, BeniComp relocated its headquarters to Tampa in 2014 with Doug taking the reins. 

Kieran Pittman headshot

Written by Sam Del Rowe of Employee Benefits News and Employee Benefits Adviser

For adviser Kieran Pittman, going above and beyond in her communication strategy makes the difference with clients, and has helped launch her to the top of her industry, as the director of strategic growth at BeniComp Health Solutions.

In a key meeting where she and broker Dennis Hartin were negotiating a deal with a new client, a charter school in Florida, the duo faced reluctance from top level executives. While Hartin was preoccupied with addressing concerns from the top HR executive, Pittman engaged directly with the CEO.

“She walked around the desk, sat down next to him and showed him where the math adds up,” says Hartin, president and CEO of Hartin Dynamics. “As an organization, there was $10,000 worth of fixed cost savings and potentially $100,000 to $200,000 in claim savings over the next year. That’s a huge win.”

Pittman, who is one of Employee Benefit Adviser’s Top Women in Benefit Advising for 2020, says she was not always so confident with clients.

“My role is not to influence someone to a certain decision — it is to deliver all of the pertinent aspects that will empower the business leader to make their best decision. This approach has taken practice and constant evaluation, then doing it again, but doing it better every time,” she says.

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Read from St. Pete Catalyst

Help Us Change Healthcare

 

BeniComp Health Solutions, an InsureTech company in Tampa, is radically transforming healthcare by saving employers millions of dollars while providing smart solutions that improve the health of populations. This 58-year-old startup has created a new health plan that is quickly becoming a proof-of-concept for reformation of the nation’s healthcare system.

“I’m unbelievably proud of what our team has built,” said Steve Presser, President. “It was always Doug Short’s vision to create IncentiCare and make the future of health insurance a health solution. This year his dream is quickly becoming a reality, with the ability to make a significant impact on society.”

One company with around 2,000 employees is projected to save $10,000,000 in the first year alone with IncentiCare. This smart plan design empowers employers to take control over their expenses, say goodbye to hidden fees and agendas, and implement predictive risk models. Scaling the adoption of IncentiCare could save Tampa hundreds of millions, if not billions, of dollars in healthcare costs. This would allow for more industry investment in healthcare innovation.

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Thank you Ingrid Harb, creator of the Women in Progress podcast channel for sharing this story!

 

 

Kieran Pittman is the Director of Strategic Growth at BeniComp Health Solutions. She leverages 12+ years in professional selling, communications, and operations with her expertise in health insurance to deliver strategic solutions to self-funded employers. Kieran is leading the movement toward the future of health insurance with an unprecedented approach that brings prevention, health data, transparency, and innovative technology to the industry. Her approach empowers entire populations to improve their health while lowering the cost of group healthcare, freeing up cash flow and reducing profit leak for companies. She has collaborated with over 1,000 advisers and 3,000 employer groups in addition to vetting over 250 of the nation's top cost-containment vendors to build BeniComp's self-funded health insurance model, IncentiCare. Her mission is to offer a best-in-class health insurance solution that exposes hidden fees and aligns population health with organizational goals. Many say that Kieran holds the best-kept secret in health insurance.

Innovative ideas from Benicomp to help understand your group's risk and opportunity to save money all while improving the plan design for your members. With 96% participation, Incenticare has proven to engage your employees and focus attention on where you can make an impact to save lives. With the added "Mindset" component, you can improve everyone's wellbeing and solve for the rising mental health demand. 

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Written by Dennis Hartin, Hartin Dynamics

Tampa BeniComp Team Office of Innovation and Product Development

One of the best kept secrets in the Tampa Bay area may very well be our friends at Benicomp. They consider themselves a technology company with software to run high-performance self-funded employee benefits plans. As a TPA, they are focused on building a system that empowers employers to bring the best healthcare to their employees.

Much thanks to Francisco Oller Garcia and Kieran Pittman for sharing their insights and innovative ideas from Benicomp Health Solutions. Their team helps employers to help understand their group’s risk and find opportunities to save money all while improving the plan design for members. With 96% participation, their Incenticare soltuion has proven to engage employees and focus attention on where you can make an impact to save lives. With the added “Mindset” component, you can improve everyone’s well-being and solve for the rising mental health demand.

In this video, the Benicomp teams shares some positive things they are hearing from their clients during the COVID-19 crisis. They talk about how companies are reassessing their needs, re-purposing their business model or value proposition, using funds to help the community, and shifting focus to financial management. As Kieran explains, “We all have an opportunity to reflect and plan, while looking out for the best interests of their employees.”

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MyHealthGuide Source: BeniComp, 4/30/2020

BeniComp Health Solutions announces the launch of IncentiCare. This self-funded product changes the way employers and their members utilize health insurance by controlling not only cost, but the underlying cause of expenses.

“Using data and technology to identify risks and opportunities early, we can prevent and reverse the chronic conditions that make up over 75% of healthcare spending.” Said Kieran Pittman, BeniComp’s Director of Strategic Growth. “Everyone was going around trying to offer employers the best discounts and price negotiations, but no one was looking at what was causing claims in the first place. That’s where BeniComp found it’s differentiator.”

With outcome-based, deductible incentives, BeniComp motivates 96% participation in annual health screenings which includes a full chem-17 blood screening. With 96% of a population's blood data and 100% of their claims data, this innovative TPA has found a niche in identifying the underlying health risks in a population and empowering at risk individuals with data, tools, and advocacy so they can take control of their health.

“Data is essential in determining a health strategy for a population. Health insurance is not a one-size-fits-all blanket solution. We really have to understand what is going on inside of a population to be able to offer the best cost and cause containment solutions,” explains Pittman.

BeniComp’s innovative approach to self-funding bridges the gap between historic and modern while looking toward the future. Established in 1962, this 50 state TPA brings together a team of insurance professionals, health professionals, and software developers to custom build a state-of-the-art tech platform, Pulse, used to manage the health and insurance plan of entire populations.

Pulse’s open-architecture style allows all cost-containment vendors to plug-and-play based on a population's needs and includes all of the features a TPA, broker, employer, or participant would need to manage plans, payments, data reports, and more.

“IncentiCare is the best kept secret in the industry,” Pittman remarks. “We want employers to know that they don’t have to settle with high-cost, low-value plans. There are solutions out there that can improve health plans from the inside out by helping employees sustain healthy lifestyles and customizing cost savings strategies. In this way, employers will save not only 25-35% year one, but will continue to see their expenses decrease year over year as their health plan grows stronger and stronger in its ability to predict and prevent financial and health risks.”

Click here to read the full article on MyHealthGuide

MyHealthGuide Source: BeniComp, 4/30/2020

BeniComp Health Solutions announces the launch of IncentiCare. This self-funded product changes the way employers and their members utilize health insurance by controlling not only cost, but the underlying cause of expenses.

“Using data and technology to identify risks and opportunities early, we can prevent and reverse the chronic conditions that make up over 75% of healthcare spending.” Said Kieran Pittman, BeniComp’s Director of Strategic Growth. “Everyone was going around trying to offer employers the best discounts and price negotiations, but no one was looking at what was causing claims in the first place. That’s where BeniComp found it’s differentiator.”

With outcome-based, deductible incentives, BeniComp motivates 96% participation in annual health screenings which includes a full chem-17 blood screening. With 96% of a population's blood data and 100% of their claims data, this innovative TPA has found a niche in identifying the underlying health risks in a population and empowering at risk individuals with data, tools, and advocacy so they can take control of their health.

“Data is essential in determining a health strategy for a population. Health insurance is not a one-size-fits-all blanket solution. We really have to understand what is going on inside of a population to be able to offer the best cost and cause containment solutions,” explains Pittman.

BeniComp’s innovative approach to self-funding bridges the gap between historic and modern while looking toward the future. Established in 1962, this 50 state TPA brings together a team of insurance professionals, health professionals, and software developers to custom build a state-of-the-art tech platform, Pulse, used to manage the health and insurance plan of entire populations.

Pulse’s open-architecture style allows all cost-containment vendors to plug-and-play based on a population's needs and includes all of the features a TPA, broker, employer, or participant would need to manage plans, payments, data reports, and more.

“IncentiCare is the best kept secret in the industry,” Pittman remarks. “We want employers to know that they don’t have to settle with high-cost, low-value plans. There are solutions out there that can improve health plans from the inside out by helping employees sustain healthy lifestyles and customizing cost savings strategies. In this way, employers will save not only 25-35% year one, but will continue to see their expenses decrease year over year as their health plan grows stronger and stronger in its ability to predict and prevent financial and health risks.”

Click here to read the full article on MyHealthGuide

LEFT Steve Presser President COO RIGHT Doug Short CEO

Written by By Sharael Kolberg, California Business Journal

 

By using prediction, prevention, and industry-leading technology – which rewards participants by lowering their health insurance deductibles — BeniComp Health Solutions is preventing — or in some cases reversing — chronic health conditions while simultaneously saving potentially thousands of dollars on health insurance.

“BeniComp is addressing two of the biggest challenges in the industry: skyrocketing healthcare costs and the prevalence of chronic disease,” says Steve Presser, president and COO. “By providing organizations with inventive solutions to sustain the health of the workforce and drive cost savings, we are taking health insurance where it has never gone before.

“There are a lot of companies in our space, but there is absolutely no one doing what we are doing.”

BeniComp’s core focus is Preventive Health Management (PHM), which uses innovative health technology and health professionals to put information into the hands of participating employees and spouses and provides tools to accomplish lifestyle changes to improve their health.

“We empower people with their own data,” Presser says. “The rest of the industry is focused on cost; we are focused on cause. What is the root cause of the claims and the health of the employees? We can lower healthcare costs based on actual data.”

BeniComp’s IncentiCare program is a self-funded health plan solution that helps company’s employees save money. Through the program, “employees are able to earn thousands of dollars toward lower deductibles by participating in an annual health screening and meeting screening goals. This option doesn’t exist in any other insurance product,” Presser says.

Competitors do not offer it, Presser says, because health insurance industry “has been the same for years and years and years. When companies become so big, it becomes difficult to be creative or pivot.”

Click here to read full article

Written by Sarah Marshall, Grit Daily

 

team photo grit daily

 

While most businesses have shuttered due to the coronavirus outbreak, some were strategically ready for this moment in history. Instead of laying off workers, they’re hiring; instead of stopping production, they’re ramping up. Papa Johns announced that it would hire 20,000 more employees, and Alphabet and Facebook will indeed come out of the pandemic stronger. Technology companies that already had digital operations are weathering the coronavirus storm just fine, even expanding. BeniComp Health Solutions is such a company. Their president, Steve Presser says, “We were uniquely positioned for something like this.”

Click here to read the full story

1090 steve and doug

Summary

  • Doug Short (40-year President & CEO) names Steve Presser (COO & CSO) the new President of BeniComp Health Solutions.
  • Presser announces and affirms the direction of the company’s future with a heavy focus on the development of Pulse technology to help employers manage the health of their population.
  • In the last 5 years, internal technology has led to areas of the business becoming 90% more efficient, allowing for the company to reinvest millions in software development and their growing innovation team.

 

January 1, 2020-- Doug Short (40-year President & CEO) announced the transition of his role at BeniComp Health Solutions. He passed the torch to Steve Presser (5 year COO & CSO and long term business partner) who is now officially the new President & COO of this innovative, 58-year-old start-up. With Presser at the wheel, Short takes a step up to focus on how BeniComp fits into the bigger picture of society at large.

 

“Through life and business, I have seen that it takes courage. Courage to dream, to lead, to innovate, and courage to stand when others fall. It takes courage to follow and courage to support, but it also takes courage to step aside” - Doug Short, CEO

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Published by Grit Daily, Written by Sarah Marshall click here for the original article

Kelsey White Preventive Health Education writing on whiteboard

Ask any foreigner what they think of America’s healthcare system; you’ll hear words like “strange” and “dysfunctional”.  Healthcare in the US currently fosters a type of willful ignorance around knowing the state of one’s physical wellbeing. Benicomp, a healthcare company based out of Tampa, is taking a ‘knowledge is power’ approach to healthcare, and using technology to do so.

 

The Centers for Disease Control and Prevention (CDC) shared a peer-reviewed article stating that, “Underutilization of preventive services is largely the result of an implementation gap rather than an information gap; in other words, providers do not prioritize preventive care services although they know that preventive services can reduce the incidence and burden of chronic diseases.”

 

Says Benicomp President Steve Presser, “Right now people are so scared to use the system that when they feel something going on inside them they wait and wait, and things are getting worse in this interim period,” so instead, Benicomp rewards patients for getting blood screenings by using “outcome-based deductible incentives”.

 

This means that before a blood screen, their deductible is capped, and if they get a positive result, their deductible may be lowered, which incentivizes people to get their annual blood screen. He pointed to the blood chart of a typical healthcare company’s population, with 30% participation. The results looked positive, with barely any diabetics or pre-diabetics. Then he pointed to Benicomp’s chart, with a whopping 96% participation.

 

The results did not show greater overall health of the population, but painted a more accurate picture of the risks that patients were facing. The company’s web application, Pulse, helps patients keep track of test results and appointments, and allows them to talk to a healthcare professional about what they can do to maintain or improve their health, and where they should go for certain procedures. This is a radical, yet inevitable approach. Rural areas are seeing healthcare access diminish greatly, as doctors and clinics close for lack of patients and resources. Online assistance with medical diagnoses and procedures is the foreseeable next step in healthcare access.

 

Presidential candidates on either side of the aisle talk about the issue of healthcare so passionately because it affects so much of the electorate; it’s a game changer because in some instances, people’s lives are on the line. The complexity of the issue makes a one-solution-fits-all approach appealing to many. Mr. Presser acknowledged that The Affordable Care Act did some great things; making sure that patients were not refused by insurers for having preexisting conditions, and removed caps for limited coverage; he also acknowledged that it came with a high price tag.

 

Policy changes can create volatility for healthcare companies, but Benicomp is confident in its structure. Their size as well as their push toward technological advances to streamline communication with patient populations gives them a certain level of flexibility. This is essential for success – flexibility, because if a new era of healthcare is imminent, patients need to trust the institutions ushering it in.

 

About the author

Sarah Marshall is a Columnist at Grit Daily. Based in Florida, she covers events related to regional economic growth, politics, and the environment. Sarah writes an environmental column for The Muslim News, and curates a blog that showcases her travels through Asia.

 

by Alexandra Goebel

  • Local health-tech company launches a new initiative that disrupts the $3.65 trillion healthcare industry
  • Unheard of participation in annual health screenings and data analysis making headway in the insurance space to predict and prevent health problem
  • BeniComp leverages preventive health management to end the chronic disease epidemic and reduce healthcare expenses

“The future of healthcare is a health solution.” Doug Short, CEO (BeniComp)

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Alexandra Goebel, Community Outreach Specialist

On Monday, June 24, 2019, President Trump signed an executive order requiring hospitals, providers, and insurance companies to publicly disclose their pricing structures for health care services. The purpose of the executive order is to introduce price transparency, quality care, and all-around affordability into the health care system. Trump expresses the importance of revealing this information “in a way that's clear, straightforward, and accessible to all."

“For too long it's been virtually impossible for Americans to know the real price and quality of healthcare services… With today's historic action, we are fundamentally changing the nature of the healthcare marketplace. We will empower patients with the information they need to search for the lowest cost and the highest quality care. In other words, they will be able to seek out... the doctor they want and they will be given vast amounts of information about those doctors.” - President Donald Trump

Details regarding the executive order have yet to be clearly agreed upon and defined. According to various sources they will be released over the next few months. The final regulations are responsible for the successful execution and impacts of the executive order.

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Francisco Oller, Digital Operations and Marketing Assistant

Important Healthcare Development: On June 13th, 2019, the U.S. Departments of Health and Human Services, Labor, and the Treasury announced the Individual Coverage Health Reimbursement Arrangement (ICHRA). ICHRA, at its core, is an expansion of the Qualified Small Employer Health Reimbursement Arrangement (QSEHRA).

The beginning of affordable healthcare for small employers

QSEHRA was introduced in 2016 as a health insurance solution for companies with less than 50 full-time employees and no base medical plan, allowing them to reimburse employees for medical expenses. Small businesses find value in QSEHRA because it gives them the ability to set fixed, tax-free allowance amounts and allows employees to choose the coverage that works for their health needs.

The introduction of QSEHRA was seen as necessary for small business as they were less likely to offer employer-sponsored healthcare than their larger competitors. According to the Kaiser Family Foundation as of 2017, 30.2% of small businesses provided employer-sponsored healthcare compared to 96.6% of companies with more than 50 employees. QSEHRA leveled the playing field of the competitive landscape, allowing small businesses to recruit and retain employees in spite of the benefits larger companies could offer.

Employers of over 50 employees have been hoping for something similar to assist them in offering affordable healthcare. This is what ICHRA is for.

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