The independent-practice coalition Strategic Radiology has founded a captive health insurance program, aka a “self-insured” or “self-funded” planwhich it will offer to its 1,500 or so member physicians and their respective support staffs.
Calling the operation SR Health, the 33-group alliance says the endeavor should help participants save 30% or so on premium payments while also giving them more control over coverage details and opening better visibility into plan data.
Already eight SR practices representing 2,000 enrollees are up and running with SR Health, Strategic Radiology says in an announcement posted Jan. 11.
SR adds that it expects “many more” of the 33 groups in its fold to sign on as their current contracts expire in the coming months.
The coalition has contracted with established companies to tap outside expertise in five areas, SR notes. The contract companies include a captive analyst and program manager, a reinsurance provider, a pharmacy benefits manager, a third-party administrator and a national broker.