Powers is an expert on reference-based pricing (RBP), having worked on RBP plans for over a decade……………..
JULY 14, 2021
By HealthComp
HealthComp, the largest independent health benefits administrator in the country, today announced the appointment of John Powers to the position of Vice President of Sales. In this role, Powers will drive growth among brokers and their mid- to large-sized employer groups at both regional and national levels.
“We’re thrilled to have John join our sales team,” said Tom Martel, CGO of HealthComp. “From his tenure in the industry, he’s built extensive relationships with brokers, benefit advisers, and employer groups across the country. With this expertise, he’ll be able to help us broaden our reach nationwide, while deepening our market penetration in key geographic areas. His experience in meeting the needs of mid- to large-sized employer groups also comes at an opportune time when we are exponentially growing in this position.”
“For the past 15 years, I had the privilege of working alongside HealthComp as a business partner,” said John Powers. “In that capacity, I worked with many TPAs, and HealthComp stood out as the market leader. Now, I’m privileged to join the team and be part of the company’s mission to deliver outstanding value. Our low cost trend of 2.4% versus the industry average of 5.8% demonstrates an ability to truly impact the healthcare cost curve. In addition, our Net Promoter Score of 80 versus the industry average of 12 underscores the superior experience we can provide plan members.”
Powers is an expert on reference-based pricing (RBP), having worked on RBP plans for over a decade. He has an in-depth understanding of the factors that contribute to RBP success, including member education and outreach, change management, and direct contracting. And because HealthComp has Centers of Excellence for both RBP and PPO plan administration, he has the flexibility to offer clients more plan options.
“I’m excited to introduce brokers and their clients to HealthComp’s RBP Center of Excellence. And while I’m passionate about RBP, I understand that the best health plan is about balance. Toward that end, I now have the advantage of being able to offer clients the industry’s most comprehensive RBP program, as well as the best PPO networks,” noted Powers.
And as a recognized expert on RBP, Powers is in tune with key trends making it an opportune time to consider RBP. “With the economy reopening after COVID-19, there’s increased competition for human capital,” he added. “RBP offers a win-win for companies and prospective employees. For example, HR departments can still offer quality health benefits to attract candidates, while CEOs and CFOs embrace RBP’s ability to rein in healthcare spending.”
“RBP has certainly evolved,” noted Powers. “Early on, it was viewed as a disruptor, and groups who were early adopters were seen as taking a risk. Today, RBP has moved into a more mature phase, where an early majority look to RBP experts, like HealthComp, to show them the ropes.”
Powers’ previous roles include executive vice president of sales and marketing at AMPS. In this position, he provided leadership in healthcare cost management services to self-funded employer groups, third-party administrators, health plans, HMOs, and insurance companies. Prior to that, he served as vice president of strategic partnerships and network development at inVentiv Medical Management, where he led technology-enabled medical management and cost containment, all while ensuring quality patient outcomes.
