Nova Healthcare Administrators - 3x3x3 Challenge With Todd Martin
At Nova Healthcare Administrators, we provide customizable self-funded health plans, leveraging our medical management programs and data-driven insights to meet diverse client needs and help manage health care costs.
Transcript:
What is Nova Healthcare Administrators?
By industry standards, Nova is labeled as a third-party administrator of self-funded employee benefit plans, but over time, we have really evolved into a strategic partner that works with various entities to help them manage risk, and strike the right balance between cost containment and access to meaningful employee benefits. This includes a spectrum of customizable benefit solutions, including medical, dental, vision, reimbursement account administration, in-house medical management, and private-labeled partnership. Our core growth has consistently been through brokers supporting self-funded employers, but we have seen a lot of growth in supporting health plan startups and other TPAs where we will private-label all or part of their operation or support them with our medical management services.
How is Nova Healthcare Administrators different?
Well, I feel there is a handful of differentiators that set Nova apart. First, we take a holistic, thoughtful approach to build a customized solution to meet each client's unique needs and goals. Beyond just offering plan data, we work to connect the dots. We take an end-to-end, integrated approach to healthcare and provide a 360-degree view of plan participants' health and wellness, then we create a cost and risk management strategy tailored to each employer's benefit plan, their culture and their goals. There is a spectrum of choice in self-funding, no matter where a client is on the spectrum in terms of the amount of financial risk, appetite for change, their population's health needs, Nova is flexible to meet them where they are. Also, we're URAC-Accredited for Utilization Management and Case Management, so we provide these medical management services in-house, where other TPAs across the country might outsource this solution. And finally, we have consistently ranked one of the top mid-size employers in New York to work for and received other best places to work awards. Good culture translates to high employee engagement, ultimately better service for our clients.
Who is a good fit for Nova Healthcare Administrators?
Yeah, as I said, Nova's really flexible to meet any client's needs, so we're a good fit for any employer that wants to take greater control over their healthcare costs. That's what I mean when I talk about the spectrum of self-funding solutions we offer. For example, we have clients who are more risk-averse and are new to self-funding, who want access to traditional networks. We also have others that are open to trying the full scope of what self-funding can do to manage healthcare outcomes and costs, such as reference-based pricing or direct primary care. So, overall, our goal is to help our broker partners, our clients and their members navigate challenges to improve health outcomes, and we can meet each employer where they are for their readiness for change.
Transcript:
What is Nova Healthcare Administrators?
By industry standards, Nova is labeled as a third-party administrator of self-funded employee benefit plans, but over time, we have really evolved into a strategic partner that works with various entities to help them manage risk, and strike the right balance between cost containment and access to meaningful employee benefits. This includes a spectrum of customizable benefit solutions, including medical, dental, vision, reimbursement account administration, in-house medical management, and private-labeled partnership. Our core growth has consistently been through brokers supporting self-funded employers, but we have seen a lot of growth in supporting health plan startups and other TPAs where we will private-label all or part of their operation or support them with our medical management services.
How is Nova Healthcare Administrators different?
Well, I feel there is a handful of differentiators that set Nova apart. First, we take a holistic, thoughtful approach to build a customized solution to meet each client's unique needs and goals. Beyond just offering plan data, we work to connect the dots. We take an end-to-end, integrated approach to healthcare and provide a 360-degree view of plan participants' health and wellness, then we create a cost and risk management strategy tailored to each employer's benefit plan, their culture and their goals. There is a spectrum of choice in self-funding, no matter where a client is on the spectrum in terms of the amount of financial risk, appetite for change, their population's health needs, Nova is flexible to meet them where they are. Also, we're URAC-Accredited for Utilization Management and Case Management, so we provide these medical management services in-house, where other TPAs across the country might outsource this solution. And finally, we have consistently ranked one of the top mid-size employers in New York to work for and received other best places to work awards. Good culture translates to high employee engagement, ultimately better service for our clients.
Who is a good fit for Nova Healthcare Administrators?
Yeah, as I said, Nova's really flexible to meet any client's needs, so we're a good fit for any employer that wants to take greater control over their healthcare costs. That's what I mean when I talk about the spectrum of self-funding solutions we offer. For example, we have clients who are more risk-averse and are new to self-funding, who want access to traditional networks. We also have others that are open to trying the full scope of what self-funding can do to manage healthcare outcomes and costs, such as reference-based pricing or direct primary care. So, overall, our goal is to help our broker partners, our clients and their members navigate challenges to improve health outcomes, and we can meet each employer where they are for their readiness for change.