MagnaCare Symposium Outlines Strategies for Labor and Commercial Payors, Brokers, Consultants and Employers to Navigate Complexities of Healthcare Reform

Paving the way for labor and commercial payors, brokers, consultants and employers to effectively respond to and leverage The Patient Protection and Affordable Care Act (PPACA), MagnaCare a health plan services company with national reach, today presents an invitation-only event, “A Symposium on Healthcare Reform,” at the Roosevelt Hotel in New York City. Ted Kennedy, Jr., president of Marwood Group, and Joseph Berardo Jr., CEO of MagnaCare, as well as other healthcare thought leaders, emphasize the importance of “knowing your numbers” and how predictive modeling and sound chronic condition management can help provide a foundation to promote wellness, maximize long-term member health, and minimize claim costs.

“The new healthcare reform standards are impacting the entire country, challenging benefits decision makers and payors to introduce changes that will help to reduce cost,” says Berardo. “It’s important that companies take advantage of these changes by adopting wellness and prevention programs as part of their cost-cutting initiatives.”

To improve individual health and financial sustainability, the speakers recommend that companies must focus on controlling chronic illness.

“By adopting health information technology solutions that generate important data, organizations can now track individual health costs and prompt appropriate intervention or behavioral changes,” adds Berardo.

Berardo and colleagues address effective risk management strategies in light of the prohibition on lifetime and annual maximums, as well as the elimination of pre-existing condition clauses. They also articulate the benefits of developing smart healthcare consumers who get the most out of their healthcare dollars and milestones for reform and the effects on payors, brokers and consultants.

“Real change depends upon useful, actionable information,” Berardo adds. “Information must be shared across stakeholders in order to incent behavior change and help individuals make better choices, from a quality perspective as well as a cost perspective. The ability to sift health information will ultimately allow employers to take action and provide optimal prevention and wellness programs.”

About MagnaCare

MagnaCare is a health plan management company that touches millions of lives nationwide. For over 20 years MagnaCare has provided solutions to Taft Hartley funds, self-insured companies, commercial insurers such as health, workers compensation, or no fault, TPA’s, and government entities. Whether it’s access to a broad provider network, predictive modeling analyses, member outreach programs or an integrated solution that includes full plan management services including claims adjudication, eligibility management, client/customer service, and a full suite of products, MagnaCare understands its customer needs and develops cost effective, comprehensive solutions. MagnaCare was selected to the esteemed "Modern Healthcare's 2010 Best Places to Work in Healthcare." Visit www.magnacare.comwww.facebook.com/magnacarewww.twitter.com/magnacare