Over a quarter century ago, Dr. Anthony Bacchi, Medical Director the New York Hotel Trades Council, Association of New York City Health Centers, Inc., was troubled by how much unions were paying for laboratory and radiology services. Determined to build a more economical solution for the unmet provider network needs of the Labor community, in 1992 Dr. Bacchi founded MagnaCare.
MagnaCare was an immediate success in leasing its network, attracting several large Labor Fund clients – including its first, IBEW Local 3 (JIB), which remains loyal to MagnaCare today. Driven by client demand, MagnaCare later expanded its network options to include hospitals and doctors in many specialties, as well as plan management services. It also broadened its client base to offer its network and services to national carriers and TPAs.
At the request of our clients, in the late 1990s we became an administrative services organization (ASO), and began to process and manage healthcare claims and cut checks to providers. Around 1997 we developed workers’ compensation solutions and started serving Casualty customers.
In the early 2000s, we expanded our automation, technology, and web capabilities to better serve our clients and members. We introduced medical management services to ensure our members obtain the most appropriate treatment at the best price, and extended our customer support to include concierge-level service.
MagnaCare continues to adhere to its founding principles of putting our customers first, flexibility, customization, and responsiveness to client needs, a proven philosophy that has propelled MagnaCare on a trajectory of continuous growth as a health plan administrator serving 1 million lives.