Redirect Health and Risk Management Advisors Partner to Offer New Health Plans for Small and Medium-sized Businesses
The collaboration bolsters Redirect Health's ability to help both employers and their employees
PHOENIX, Feb. 15, 2023 /PRNewswire/ -- Redirect Health, a platform that creates and manages healthcare solutions and products that meaningfully improve access and affordability for businesses and employees, has partnered with Risk Management Advisors, Inc., a leading national firm specializing in the design, implementation and management of captive insurance companies and self-insured plans. The collaboration comes as Redirect Health looks to add health plan products that lower the cost of premiums and out-of-pocket costs for small and medium-sized businesses (SMBs).
SMBs have unique requirements for healthcare benefits, and minimizing risk in their health plans is more important for them than their larger competitors. The combination of Redirect Health's value-based cost control system with Risk Management Advisors' captive insurance management expertise significantly streamlines the de-risking process. Through this partnership, Redirect Health will be able to create additional health plans specifically designed for SMBs, allowing them to provide more affordable options for their employees, while offsetting the risk that also allows stability in pricing year-to-year.
"We look forward to providing brokers and employers with more options that are a better match for the needs of the business and its workers," said Dr. David Berg, CEO and Co-Founder at Redirect Health. "This collaboration will greatly benefit our customers, as we are able to further reduce out-of-pocket costs for our members and make care more accessible, while increasing coverage across the U.S. This expansion of product offerings will give companies more affordable and accessible solutions to meet their workforce's diverse coverage needs."
Unaffordable and uncollectable patient out-of-pockets have long been a roadblock for healthcare providers and hospitals interested in helping their communities control healthcare costs. This collaboration will allow quick and certain transfer of funds between members, claims accounts and providers.
"We take great pride in our advisement strategies, and we're thrilled to work with Redirect Health to bring captive insurance options to their members," said R. Wesley Sierk III, President and Co-Founder of Risk Management Advisors. "Our consulting and design teams have taken great care in strategizing the best captive products for Redirect Health, and we're looking forward to continuing this collaboration."
To learn more about Redirect Health's captive insurance options, visit here.
About Redirect Health
Redirect Health is a versatile platform that creates and manages healthcare solutions and products that meaningfully improve access and affordability for businesses and employees. Holding this mission at its forefront, Redirect Health provides personalized 24/7 access and financial consistency to members across the United States.
Redirect Health offers unparalleled, nationwide healthcare plans and strategies through its EverydayCARE® Suite, as well as a network of multi-specialty primary care clinics in its headquarter state, Arizona. To learn more, visit www.RedirectHealth.com.
About Risk Management Advisors
Risk Management Advisors is a national firm specializing in the design, implementation and management of captive insurance companies and self-insured plans. Our Managing Directors and Senior Captive Managers collectively have over 125 years of experience and are backed by a national network of world-class professionals. Risk Management Advisors provides a comprehensive, integrated approach for our clients to manage their risk and protect the business they have worked so hard to build. For more information, visit www.riskmgmtadvisors.com.
SOURCE Redirect Health
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