Skip to menu Skip to content

Tag: Press Release

17 Nov 2020
BCS Important News

BCS Financial Announces Partnership with the National Hemophilia Foundation

Emphasis on quality of care, cost containment for members

BCS Financial (BCS), a market leading insurer and reinsurer today announced its partnership with the National Hemophilia Foundation (NHF), bringing to market a solution set for health plans and their members to improve the quality and cost of care.

Founded in 1948, NHF strives to provide better treatments and cures for inheritable bleeding disorders and prevent complications of these disorders through education, advocacy and research.

“The partnership with NHF, a trusted advocacy organization aligned with our focus on assisting with quality and cost of care, is a first-of-its-kind in the industry,” said Peter Costello, President and Chief Executive Officer of BCS, “NHF’s unique ability to advise on optimal care management truly benefits our customers not only with cost but the level of service we strive to provide.”

According to NHF, there are approximately 20,000 individuals with hemophilia, and hemophilia consistently ranks within the top 10 highest catastrophic case spends. Costs range several hundred thousand dollars per year, with more than $1 million in annual costs is not unheard of for patients with the most severe forms of the disease (Source: Optum).

“The partnership between the NHF and BCS and its member plans allow us to establish baseline data on payment claims for people with hemophilia and develop strategies for Blue payers to facilitate the delivery of high-quality care through the network of federally-funded hemophilia treatment centers,” said Leonard A. Valentino, MD, President & CEO of the NHF. “BCS supports our goal to ensure optimal patient outcomes at the lowest possible cost.”

The three major factors affecting hemophilia cost containment include:

  • Site of Care – hemophilia treatment center Gold Standard
  • Assay Management
  • Prescription Management

The partnership addresses all three factors providing customers with increased access to BCS and its broad portfolio of complementary products including Excess of Loss, Stop Loss, International Health, Limited Benefit, and Group Supplemental insurance.

To learn more about BCS and its offerings visit: bcsf.com.

About BCS Financial Corporation:

For over 70 years, BCS Financial Corporation has delivered a wide-range of insurance and financial solutions primarily designed for Blue Cross and Blue Shield organizations and their customers nationwide. Through its subsidiaries, BCS Insurance Company and 4 Ever Life Insurance Company, BCS is licensed in all 50 states and is rated A- (Excellent) by A.M. Best. BCS Financial is headquartered in Oakbrook Terrace, Illinois. Learn more at bcsf.com.

About the National Hemophilia Foundation

NHF (the National Hemophilia Foundation) is a 501(c)(3) nonprofit organization dedicated to finding better treatments and cures for inheritable bleeding disorders and to preventing the complications of these disorders through education, advocacy and research. NHF’s programs and initiatives are made possible through the generosity of individuals, corporations and foundations, as well as through a cooperative agreement with the Centers for Disease Control and Prevention (CDC). Additional information on hemophilia and NHF can be found at www.hemophilia.org.

View the full release on Newswire: https://www.newswire.com/news/bcs-financial-announces-partnership-with-the-national-hemophilia-21254639 

06 Oct 2020
BCS Important News

BCS Announces Expansion of Risk Navigator Solution Set With Acquisition of Medical Risk Managers, Inc.

Acquisition joins two specialized Stop Loss Insurance and Excess of Loss Reinsurance underwriters

BCS Financial Corporation (BCS) announced today it has acquired Medical Risk Managers, Inc. (MRM), a market-leading provider of Stop Loss pricing and underwriting services.

As a market-leading insurer and reinsurer, BCS protects more than six million medical, supplemental, and travel customers. With this acquisition, MRM’s comprehensive managing general underwriting service model becomes an additional feature included in BCS’s Risk Navigator solution set, a highly predictive and actionable approach to managing carrier and employer large claim risks.

“For three decades, BCS has provided our customers with a portfolio of products and services designed to help flatten the growth of large claim risks,” said Peter Costello, president and chief executive officer of BCS Financial. “BCS’s acquisition of MRM advances our efforts to provide a comprehensive solution-set for our customers.”

In conjunction with MRM, BCS and its customers immediately gain access to market-leading Stop Loss pricing, underwriting, and case management capabilities. MRM and its customers, meanwhile, benefit by gaining increased access to BCS and its broad portfolio of complementary products, including Excess of Loss, Stop Loss, International Health, Limited Benefit, and Group Supplemental insurance.

“It’s undeniable that the volume and severity of High Cost Claimants is a growing problem for self-funded employers,” said Mehb Khoja, president of MRM. “Our new alignment enables both BCS and MRM to grow by sharing strengths, capabilities, and market access.”

Under BCS’s ownership, Khoja will continue as president of MRM, which will remain headquartered in South Windsor, Connecticut.

About BCS Financial Corporation (BCS)

For over 70 years, BCS Financial Corporation has delivered a wide-range of insurance and financial solutions primarily designed for Blue Cross and Blue Shield organizations and their customers nationwide. Through its subsidiaries, BCS Insurance Company and 4 Ever Life Insurance Company, BCS is licensed in all 50 states and is rated A- (Excellent) by A.M. Best. BCS Financial is headquartered in Oakbrook Terrace, Illinois. Learn more at bcsf.com.

About Medical Risk Managers, Inc. (MRM)

For over 35 years, Medical Risk Managers, Inc. has underwritten Stop Loss insurance on behalf of its insurance carrier partners. As a managing general underwriter, MRM has underwritten over $4 billion in Stop Loss premium since its inception. Among its capabilities, MRM is able to price Stop Loss coverage at any deductible level, over any network, and in any zip code nationwide. MRM is headquartered in South Windsor, Connecticut. Learn more at mrmstoploss.com.

Media Contact: amy@newswiremail.io

16 Sep 2020
BCS Important News

BCS Announces Partnership with 2nd.MD to Improve Member Healthcare Cost, Quality, and Outcomes

Partnership will deliver free, top-tier medical navigation and second opinion virtual consultation for members facing complex diagnoses and treatments

CHICAGO, September 16, 2020 (Newswire.com) – BCS Financial (BCS) announces today it has partnered with 2nd.MD to provide top-tier medical navigation, expert consultation, and personalized second opinions to 4M policyholders. Under the agreement, members covered under BCS Stop Loss and Excess of Loss policies can work with highly skilled, experienced nurses to help them navigate diagnoses, virtually connect with elite doctors who specialize in their specific condition, and receive assistance finding a local doctor or specialist in their area – at no cost to them.

As the number one reinsurer of Blue Cross Blue Shield plans, BCS offers a wide range of products and services to help insurance carriers and their members navigate healthcare costs, particularly those exceeding $500K annually. The partnership is one of several features included in BCS Financial’s Risk Navigator solutions, a highly predictive and actionable approach to managing claims risk.

“Second opinions can play a vital part in ensuring healthcare costs are not wasted on unnecessary or incorrect care,” said Peter Costello, president and chief executive officer, BCS Financial. “BCS is committed to helping our policyholders and their members manage their risks, while improving healthcare outcomes.”

Members see direct benefit from the second opinion consultation. “Members facing a complex diagnosis, surgery, or healthcare decision often find it difficult to navigate the healthcare system and manage costs,” said Chris Kurtenbach, vice president, Services & Operations, BCS Financial. “With this partnership, we can help members get the appropriate care they need by connecting them with board-certified, elite specialists from top medical institutions, and reducing their costs along the way.”

In many cases, the second opinion can change the treatment trajectory – 85% of 2nd.MD’s consultations result in improved treatment plans, 35% lead to alternative diagnoses, and nearly 30% of surgery consults result in surgery cancellation.

This is an especially important service as the market for gene therapy and cellular immunotherapy continues to ramp up. An estimated 50-75 therapies will be approved for the US market by 2030, with costs for cellular immunotherapies averaging around $400K, and gene therapy costs estimated in the $2-$4M range. For those with complex cancers, rare or orphan conditions, and aggressive recommendations, access to top specialists can make all the difference.

“Better care and outcomes for members is always our priority,” said Costello. “This partnership is just one of the ways we are delivering value to our Blue Cross and Blue Shield partners and their members by helping them continue to manage healthcare costs and quality.”

This service is currently available to members covered by BCS Stop Loss and Excess of Loss policies.

About BCS Financial Corporation (BCS)

BCS Financial Corporation has more than 70 years of experience delivering a wide-range of insurance and financial solutions for Blue Cross and Blue Shield organizations nationwide. Through its subsidiaries, BCS Insurance Company and 4 Ever Life Insurance Company, BCS is licensed in all 50 states and is rated A- (Excellent) by A.M. Best. BCS Financial is headquartered in Oakbrook Terrace, Ill. Learn more at bcsf.com.

About 2nd.MD

2nd.MD offers medical certainty by connecting you with board-certified, leading specialists from across the country for an expert second opinion via video or phone within three to five days, from the comfort of your own home. From the minute you reach out, 2nd.MD’s Care Team of nurses will put you at the center of your medical care by coordinating all the details. This includes, understanding your health goals, gathering all of your medical records and connecting you with a doctor who specializes in your specific medical condition, so that you can focus on what matters most — getting the best care possible. No travel. No hassle. No cost. If you haven’t used 2nd.MD before, it can be life changing. In fact, 98% of people who use 2nd.MD recommend it to their friends and family.

For more information, please contact Nathan Post at 630.472.7860.