Righting the ship by repairing healthcare
- Full-service shipyard with a range of maritime services
- Family and employee-owned
- Imagine360 client since 2019
“Hendry Marine is an outside-the-box type of company. We knew there was a better way to manage healthcare costs.”
Stephanie Koch Director, Human Resources, Hendry Marine Industries
Stephanie Koch Director, Human Resources, Hendry Marine Industries
Protecting employees from rising healthcare costs
Hendry Marine Industries operates a diverse range of maritime businesses, including ship repair and maintenance, marine environmental services and ship terminal operations. Located on 15 acres within the Port of Tampa, Hendry Marine is the largest shipyard on the Gulf Coast.
Like many companies, Hendry Marine kept seeing costs for its PPO healthcare plan increase every year. In 2017, it decided to switch from a fully funded model to a self-funded plan offered by one of the healthcare industry’s large carriers. But within one year, it was handed another increase.
“Our healthcare costs continued to rise year after year. The company and its employees cannot always assume the additional costs. But the costs have to be settled somewhere. Unfortunately, it becomes a disadvantage to the employees and their covered dependents.”
Cost containment and transparency
“Fortunately,” says Koch, “we found Imagine360, which changed the trajectory of our healthcare program.”
Imagine360’s reference-based pricing (RBP) model contained the company’s healthcare costs — lowering the spend for both the company and its employees. Plus, the plan provided employees with access to an entire support team to guide them to the right care and help resolve any billing issues.
But for Koch, one of the best things about the Imagine360 plan is the ability to customize based on the specific needs of Hendry Marine and its unique employee population — which is made up mostly of men. The plan’s transparent reporting showed that only 15% of its employees were taking advantage of their plan’s preventive wellness benefits. This was a big concern for Koch and her team.
With the millions of dollars in plan savings, she was able to solve the problem and reimagine care delivery — by bringing a mobile, walk-in clinic on site for workers who might be reluctant to make appointments for checkups or ongoing health problems.
“Like a lot of companies, we’re doing more with less people in the department. We are so grateful to have the support from Imagine360.”
“Since 2019, we’ve saved $11.8 million off billed charges, which is unbelievable.”
$1.5M
in healthcare savings vs. traditional carriers
$0
cost increases for employees
Onsite
clinic brings care to employees
Better access to care
“It was very concerning to us that our employees weren’t taking care of themselves,” says Koch. “So we decided to bring healthcare to the employees with a mobile walk-in clinic that is literally onsite at the shipyard.”
That’s an innovative experience that Hendry Marine’s workforce might not have without Imagine360’s cost savings and plan flexibility.
One employee who visited the clinic was surprised to hear that his blood sugar was astronomically high. He enrolled in Imagine360’s diabetic care program and, with the help of his doctor and a care team that checks in with him regularly, is on his way to better health.
“We know [the walk-in clinic] is going to save the lives of employees who are being treated for illnesses they wouldn’t have otherwise been diagnosed with.”
For Koch and Hendry Marine, working with Imagine360 has been a success.
“If you’re in a world where you’re still working with an old healthcare model, and you have employees who need healthcare, you owe it to yourself to look at this program,” says Koch. “There is nothing better than being able to customize your healthcare plan to make it better for your employees, year after year. And that’s the opportunity we have working with Imagine360. I would never have imagined that was possible, but it is.”
Control healthcare spend
