“INETICO has put together a complete and effective option to the traditional PPO model……………..”
Editor’s Note: Cost Plus insurance, also known as Reference Based Pricing, is becoming a growing market phenomenon. In Texas, Cost Plus Insurance (www.costplusinsurance.com ) made a debut about 6 years ago. A handful of employers who had the intestinal fortitude to step away from the managed care world, decided to purchase health care using common sense and traditional American business practices rather than rely on secretive managed care contracts between health care givers and their PPO partners.
The market was confined to one or two “Out-Of-The-Box” TPA’s who, much to their credit, risked retaliation from the managed care industry. Their perseverance paid off – clients saved as much as 50% or more above and beyond managed care contracts – and TPA profits soared through a percentage of savings scheme or fees of up to 12% of billed charges that netted millions in new found wealth.
(Hospital Charge Master is an intermediary’s best friend – Hospitals Dismiss Significance Of Chargemaster Prices? – “greatest fraud foisted upon consumers since Vicor Lustig sold the Eiffel Tower in 1925″).
Markets evolve. Opportunities abound. Free enterprise rewards those who build a better mousetrap, keeping competitors at bay through innovative strategies, good service and competitive pricing. (Xerox, Eastman Kodak And Cost Plus Insurance)