These folks seem to be on a roll with the press releases I am receiving with yet one more contract to provide employees of the managed benefit plans an option to travel for selected surgical procedures. Less than 2 weeks ago we had the PEBA contract announced and they also signed up the City of Hartford in Connecticut. TPA is a third party administrator for benefits.
Public Employee Benefits Alliance (PEBA) A Texas Purchasing Cooperative Signs Agreement With Satori Medical Tourism
Again having that former CEO of Cigna on hand might be opening some doors here for contract negotiations. A clip from the HealthFirst site explains what they do.
“Self-funding is an alternative plan for companies who choose to take control of their own insurance plans. This means that instead of paying an insurance company money to pay the claims (and keep any profits) of your employee benefits plan, a self-funded employer puts the money into a trust fund that is overseen by strict Federal government regulation. That trust fund, in turn, pays the claims and keeps any profits on behalf of the benefit plan to offset future expenses.”
The company has a full line up of analytics software and risk management software on the site and they explain how they mine data with business intelligence reporting. Again I am guessing that Mexico is going to be a targeted country due to location and there may be other destinations covered but none are specifically mentioned in the press release. A couple years ago I talked with quite a few hospitals in Mexico at the LA Medical Tourism conference they were building the big luxury hospitals to prepare for what they anticipated as a large customer base of patients from the US. BD
Through this partnership, Satori World Medical will provide HealthFirst TPA’s clients and thousands of their employees access to a full-service, high quality medical travel program, also known as medical tourism or global healthcare. Under the program, specialized surgical procedures, such as orthopedic, cardiac, bariatric, cosmetic and major dental work can be performed at cost savings of between 40-80 percent when compared to U.S. pricing at Satori’s International Centers of Excellence
“HealthFirst TPA is excited to have Satori World Medical as our exclusive global healthcare partner. This will add tremendous value to our self-funded clients’ benefit structure, as we are committed to reducing healthcare costs, while providing more quality healthcare options. These are the exact same values of Satori World Medical, which makes this such a unique and valuable partnership”, said Mark Hobgood, Chief Marketing Officer, HealthFirst TPA.
HealthFirst TPA, located in Tyler, Texas, has been operating in the third party administrator industry since 1983. HealthFirst TPA is considered one of the most innovative and technologically advanced TPAs in the nation.
“We are pleased to be working with an industry-leading third party administrator, HealthFirst. Satori’s global network allows HealthFirst to expand their clients’ access to quality healthcare providers”, said Steven Lash, President and CEO, Satori World Medical. “Our medical travel program creates a highly valued employee benefit, while at the same time it can reduce healthcare expense by 40-80 percent, provide more quality healthcare options, and increase employee satisfaction”.
Satori World Medical has done extensive due diligence on hospitals and physicians to find the best the world has to offer. Its network features hospitals that meet or exceed U.S. standards of care, are accredited, and monitored regularly by Satori on the quality of care delivered.
For more information on HealthFirst TPA, visit http://www.hftpa.com.
Satori World Medical provides access to its global network of board-certified doctors and worldwide centers of excellence through a high-quality integrated program, which is easily added to any health plan, reducing the costs of surgical procedures by an average of 40-80 percent when compared to the same procedures performed in a U.S. hospital. Its business model is specifically designed to deliver high-quality health care services, share the tremendous cost savings with plan sponsors and their employees and to coordinate all medical and travel services for individuals who need care. For more information about Satori World Medical, call +1 (619) 704-2000 or visit at http://www.satoriworldmedical.com.