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SHPS
Company typeHealth Care Wrap Around Services
IndustryHealth Care
Founded1997
HeadquartersLouisville, Kentucky
Key people
Rishabh Mehrotra (President and CEO)
John W. McCarty (EVP and CFO)
Jeff Rosenblum (EVP, Sales and Client Relations)
Jerry Kreisler COO Operations
ProductsContact Center, Third Party Administration and Support Services for Health Care Carriers and Providers
Number of employees
2,600
Websitewww.shps.com

SHPS (pronounced as "Ships") is a healthcare and human resources services company, focusing on consumerism and wrap around services. The company headquarters are in in Louisville, Kentucky. SHPS employs about 2000 people in varied services from call centers, insurance services, nursing lines, case management, flexible health account management, human resources support, and fulfillment services. SHPS has an annual net revenue of approximately $218 million.[1]

History

The SHPS company was founded in 1997, as a joint venture between Sykes Enterprises and Health Plan Services, and financed by Prudential Services.[2] In December 1997, Prudential Services and Sykes Enterprises, Incorporated formed Sykes HealthPlan Services, Inc. SHPS was at that time owned fifty percent by each of the founding companies and was created to provide care management services, technology solutions, certain customer support services, and other outsourcing capabilities to the health care and insurance industries. Prudential Services invested $17.0 million in SHPS and guaranteed a line of credit of up to $37.5 million to fund the activities of SHPS. On September 11, 1998, Prudential sold its 50% interest in SHPS to Sykes for $30.6 million and recognized a gain on the sale of SHPS of $27.9 million.[3]

In the year 2000 SHPS was purchased by Welsh, Carson, Anderson & Stowe, a private equity firm which focuses on information and business services, healthcare and communications.[4]

Services

SHPS states that it is a company that aims to turn "employees into savvy consumers of health care." The company provides administrative services that integrate traditional benefits administration with disease management programs and decision-support tools that try to encourage users to stay healthier and use benefits more wisely;[5] the hoped-for end result is lower overall health care costs. [4]

They are targeted at a specific market group, including large market organizations (10,000+ employees, mid-market organizations (1,000 – 10,000 employees) and federal, state and local governments. As a support and wrap around partner SHPS does not provide the primary care or the insurance, rather it attempts to make the services offered in the healthcare world more accessible to consumers. SHPS Partners with business and "channels" (healthcare service related companies or organizations) to work towards this goal. Channel partners for SHPS include health plans and insurance companies, Medicare Part D providers, pharmacy benefit managers, third party administrators, health and benefits brokers and hospitals.[4]

An example of state contracted services is Medicaid. Medicaid support is offered in fulfillment, contact centers, case management, utilization review, and other self described “wrap around” services needed. SHPS manages the Medicaid contact programs in part or in whole for Alabama, Kentucky, and other states.[6]

The Office of Personnel Management for the United States federal employees is another SHPS government contract. They currently manage the absence and Flexible spending account programs for Office of Personnel Management. Flexible spending account or FSA management includes health reimbursement, health savings, flexible spending, and dependent care funds. These are through employee and employer contributions. SHPS facilitates both FSA debit card (Flex Card) and Paper Claims. [7]

SHPS also provides outsourcing support services for human resources and absence management. [8] [9][10]

An example of a SHPS Flexible spending account card.

The following areas of service are described as wrap around support offered by SHPS.

  • FSA Administrationor (Flexible spending account)
  • Software Services
  • Medicare D Contact Center
  • Claims Processing
  • Medicaid Case Management
  • Disease Management
  • Case Management
  • Nursing Lines
  • Health Care Advocacy
  • Absence Management
  • Human Resource Outsourcing
  • Carewise Health Systems
  • Landacorp (Health Care Software)
  • Contact Center and Call Center
  • Employee Health Risk Assessment
  • Third Party Administration[11]

Fulfillment

SHPS offers fulfillment and distribution services as well for print materials and other communications, including kitting, letter shop, bindery, and mass distribution. These services are run from a print-on-demand facility in Louisville. This is a type of extension to its wrap-around services as it is supporting healthcare communications by providing an outsourced means for a company to do these things in a manner they may not be able to do as efficiently and cheaply on their own. [12] [13]

Subsidiaries

Carewise

CareWise, is the SHPS subsidiary, which provides decision-support services that are designed to help people self-manage their health while simultaneously lowering the cost of medical care. In the process the carewise services are also designed to increase "customer satisfaction". According to company info, CareWise, Inc. has contracted services for more than 8 million members worldwide to receive services through a nurse phone line, online services, and printed health education materials. Clients include MCOs and health plans, employers, government agencies and unions similar to or within SHPS target market.[14]

Landacorp

Landacorp is a "software solutions" company which is a software arm of SHPS. Their products automate workflow and processes surrounding care coordination. They specialize in helping payers and providers manage care and cost, document treatment, and work to see that critical care guidelines and government compliance requirements are met. [15] [16]

Location

Though based in Louisville, the company has satellite offices in Atlanta, GA, Chico, CA, Minneapolis, MN, Philadelphia, PA, Raleigh, North Carolina, Seattle, WA, Scottsdale, AZ, and Walnut Creek, CA.

The Louisville offices are in three locations. The corporate headquarters is located in St. Matthews, Kentucky on Shelbyville Road. There are more corporate and services offices located in the Bluegrass Industrial Park , and a national fulfillment and printing facility located on Collins Lane in Eastern Jefferson County.

Carewise Health Systems is located in Scottsdale, AZ, and Walnut Creek, CA.

See also

References

  1. ^ "Portfolio Companies". WelshCarson.com. Retrieved 2007-06-10.
  2. ^ SHPS - Company Overview - Hoover's
  3. ^ PLANVISTA CORP Quarterly Report (10-Q) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
  4. ^ a b c http://www.shps.com/corp/home/index.stm SHPS website
  5. ^ SHPS, Inc. - Google Finance
  6. ^ SHPS adds state of Alabama to client list - Business First of Louisville:
  7. ^ SHPS deal bringing 400 call center jobs - Business First of Louisville:
  8. ^ http://www.shps.com/corp/home/index.stm SHPS Website
  9. ^ http://www.employerhealth.com/EHR_sample_pages/sp2271.htm
  10. ^ http://www.healthmedia.com/news/releases_text.html?MainID=424
  11. ^ SHPS, TPABenefits, Inc. Partner to Provide Disease Management via Comprehensive Health Management Portal | Business Wire | Find Articles at BNET.com
  12. ^ HRO Today News: January 13, 2004 - SHPS Benefit Plan Administration for LA Unified School District Resounding Success
  13. ^ SHPS, Inc
  14. ^ CareWise, Inc. to Provide Health Information 24 hours a day, 365 days a year to PacifiCare Health Systems' 3.7 Million Members | Business Wire | Find Articles at BNET.com
  15. ^ Landacorp, Inc. Information | Business.com
  16. ^ http://www.landacorp.com/aboutus.html
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