In addition, they had a long list of frustrations that included unnecessary spending and limited access to their health plan utilization details. Ultimately, these combined factors prompted their move from a traditional self-funded PPO plan to a reference-based pricing (RBP) solution from Imagine360.
“In those days, I used to go into pre-enrollment meetings every year and pray for a single-digit increase in costs, hoping our employees wouldn’t have too much to bear.”Ray Bowman, Ph.D., Senior Vice President of Talent and Team Development
A $9,000 processing error on a $900 personal healthcare claim highlighted the expensive and variable reimbursement ranges allowed by his PPO health plan. When Dr. Bowman investigated further, he was shocked to learn that the PPO “allowable” range for his $900 medical procedure topped out over $20,000.
“The experience taught me that the large insurance companies are paying no attention and are just writing checks. That was the straw that broke the camel’s back and led me on my journey for a viable alternative for MarineMax.”