Our Company
Veritycare Management is a healthcare risk management company focused on helping Self-insured Employers lower the healthcare costs of employees with high-risk, low frequency medical conditions.
Our Team has been helping Employers lower medical costs for over 25 years. We are developing special purpose carve-out plans that provide low cost reinsurance and comprehensive medical management services to mitigate ongoing risks.
Veritycare Management is a healthcare risk management company focused on helping Self-insured Employers lower the healthcare costs of employees with high-risk, low frequency medical conditions.
Our Team has been helping Employers lower medical costs for over 25 years. We are developing special purpose carve-out plans that provide low cost reinsurance and comprehensive medical management services to mitigate ongoing risks.
We don't replace your self-insured plans, we make them better.
There will be no upfront costs and no incremental operating costs.
The Expected Results
50% lower cost of stop loss coverage
18% lower plan administrative cost
40% lower medical costs
18% lower plan administrative cost
40% lower medical costs
Let's see how this will work.
Business Problem
The profit motive of third-party healthcare payers is not in line with Employers need to cut costs.
Health Insurance company profits are at all-time highs.
Employer healthcare costs are unsustainable.
Individual self-insured employers are responsible for their own risks, but don’t have enough buying power to effect change.
Solution
The solution for employers to together and take a two-pronged strategy of modified risk financing AND risk mitigation.
- First, the strategy should be based on internalizing risks by forming a special purpose Captive Insurance company (Captive) that they collectively own for financing health benefits and Workers Compensation programs.
- Secondly, the employers should take back the control of medical risk management by unbundling Third Party Administrator contracts to purchase medical services from experienced, quality–oriented medical providers that are willing to take on some of the healthcare delivery risk.
Veritycare's Capabilities in Development
A Captive Insurance company and a digital insurance operating system that lowers administrative costs.
Self-insured carve out plans designed to finance and manage the costs of employee high-risk medical conditions.
A medical services procurement application that provides for dynamic healthcare provider contracting with automated provider payments and reduced third-party involvement.
Product and Services
Our product will be a reinsurance plan that puts self-insured employers back in control of their healthcare costs. The special purpose plans will provide reinsurance through a trusted employer-owned Captive insurance company owned by a collective of employers that combine their combined buying power to purchase value-based healthcare.
We currently have a team of medical consultants that medically manage healthcare risks and narrow networks of healthcare providers that agree to provide quality specialized care at fixed prices in exchange for predictable revenue and immediate payments.
Our team oversees healthcare delivery using prospective healthcare methodologies and Care Coordination, supported by Personalized Health Plans, AI, Predictive technologies, and behavioral economics.
The Process
- Employers join our network with other like-minded companies. They provide four years of claims data. We make the data transparent to member employers and employees. We identify the most complex, costly medical conditions and develop medical management processes that address those risks.
- We utilize Artificial Intelligence and Predictive technologies to forecast risks and recommend proven treatment programs.
- Medical consultants procure healthcare from specialty providers who are willing to share in the risks.
- Nurse Risk Managers manage quality by providing close Care Coordination during treatment processes.
- Analytics services tract and monitor patient outcomes in a process of ongoing improvement.
Employers get lower healthcare costs. Employees get better, proactive healthcare and share in the savings. Healthcare Providers get more predicable revenue and improved cash flow.