When a trendy new health insurance startup needed a provider network, MagnaCare was there.
The Situation
The northeastern insurance startup was backed by hundreds of millions in venture capital and buoyed by a fresh way of looking at health insurance — an emphasis on virtual and telemedicine visits, consumer-facing service, and a savvy and user-friendly tech platform that made web-based scheduling a snap.
But the startup lacked one essential ingredient for success: a high-quality provider network and a third-party administrator (TPA) to manage it.
The Strategy
This is where MagnaCare Access stepped in. When we met with the startup, they already knew about our access to 500,000+ providers and dozens of stable, high-quality health systems, as well as the fact that our health plans encompass preferred provider organization (PPO), Minimum Essential Coverage (MEC), Medicare Advantage, workers’ compensation and casualty, and more. We explained that we could build them a broad provider network or customize to match their specific criteria. Plus, we’d administer it with cost-saving efficiency and the experience born of 30+ years of success in the business.
The Results
We helped the startup build its first member base and ultimately find its niche in creating high-performing, narrow networks that would satisfy cost-conscious and healthy millennials. A few years later, as the startup expanded, we looked on with satisfaction, having helped it perfect and deploy its unique model.
With 30 years of experience serving self-funded clients, MagnaCare provides everything you need to administer your health plan at a lower cost and with the greater customization that each individual company deserves.
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When a trendy new health insurance startup needed a provider network, MagnaCare was there.
The northeastern insurance startup was backed by hundreds of millions in venture capital and buoyed by a fresh way of looking at health insurance — an emphasis on virtual and telemedicine visits,