Signature Medical Group, Outpatient Primary Care, 130 Quincy, Ave, Brockton, MA.Signature Medical Group, Primary Care & Dermatology, 1300 Belmont St, Brockton, MA.Signature Medical Group, Primary & Specialty Care, 110 Liberty Street, Brockton, MA.
Brockton Hospital, Children & Youth, Pediatrics, 680 Centre St, Brockton, MA.Brockton Hospital, Inpatient, Emergency, Cardiology, Psychiatry, 680 Centre St, Brockton, MA.
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“Before reference-based pricing, we were scraping for pennies and trying to figure out how to do a presentation to a group of employees and have them leave with a smile even though we were increasing their premiums by 10 to 15%. “If you’re going to do reference-based pricing, I don’t know that I trust anyone else to manage a program like this other than ELAP.” “ELAP is the best company in the United States that does reference-based pricing,” said Porter. When it comes to choosing an RBP firm, he adds that he would hands-down recommend ELAP Services. $250k increase in benefit support staffĪfter shifting models and working with ELAP Services the past few years, Porter has become a staunch advocate of the ELAP RBP model.Signature reinvested all their savings into employee benefit programs: Since introducing the enhanced benefits package made possible by ELAP savings, Signature HealthCARE has more than doubled the size of its staff each quarter and reduced turnover. “That’s in addition to the money you’re saving on claims.” “By moving away from big-box carriers, we are saving a ton of money – probably 40 or 50 percent in admin fees alone,” said Porter. In 2020, they started working exclusively with ELAP for their health plan for all covered employees and family members. And in 2019, when Signature HealthCARE gave their employees the option to choose benefits through ELAP Services or a traditional PPO plan, more than 70% chose the more affordable ELAP model. Since implementing ELAP as a pilot in 2018, the results have been staggering. Since partnering with ELAP, Signature HealthCARE has experienced: NET SAVINGS
ELAP’s model considers both the cost of service and the Medicare reimbursement rate to determine a payment that is fair and reasonable for employers, members and health systems. Porter’s research to contain costs led him to ELAP Services’ reference-based pricing (RBP) solution, which is backed by unlimited client and member advocacy and support. This hit to their benefits package had a negative impact on staffing, and made it more difficult to fill positions, especially nurses.
In 2016, due to a drastic increase in healthcare costs, Signature was forced to increase premiums and deductibles for employees. “We had millions of dollars riding on contracts that we couldn’t see.” “What really drove us nuts was not being able to see what was behind the contracts that the carrier had with providers,” said Nick Porter, Vice President, Total Rewards for Signature HealthCARE. Eventually, Signature grew frustrated with the lack of transparency. To manage risk under its self-funded insurance model, Signature HealthCARE contracted with a big-box carrier to provide claims administration, network access, utilization review, disease management and program management concepts, etc. Signature HealthCARE is an award-winning company in the long-term care industry, including skilled nursing, rehabilitation, assisted living, memory care, home health, cognitive care and telemedicine.
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