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FOR IMMEDIATE RELEASE
MagnaCare Enters Exclusive Partnership with CarePoint
Healthcare,
Initiating Health Plan Services for Bayonne Medical
Center
and
Hoboken University Medical Center Employees
NEW YORK, N.Y. – April 3, 2012 – MagnaCare,
a health care services company, announced today an exclusive
relationship with CarePoint
Healthcare (CarePoint), a third party administrator (TPA)
approved by the N.J. Department of Banking and Insurance, January
2011, to market and implement high-level quality and affordable
healthcare benefit offerings. Comprehensive solutions are now
implemented at Bayonne Medical Center and Hoboken University Medical
Center and their 2,700 self-insured employees and family members.
“The success of this partnership turns on a strong
relationship between health facility leaders and administrators who
align with physicians and advance their mutual interests,
communicating and cooperating to provide high-quality care at the
right time, in the right setting and at an affordable cost,” says
Joseph Berardo Jr., CEO and president of MagnaCare. “CarePoint
and MagnaCare now have the opportunity to showcase their capabilities
at Bayonne Medical Center – the largest self insured employer in
Hudson County. This dynamic working model will serve as a prime
example of the power of self-funding to meet the needs of employers
throughout Bayonne and Hudson County.”
Provider-centric products and integrated-care positioning
provide a robust crosswalk between insurance plan management and
medical service delivery, with hospitals such as Bayonne Medical
Center and Hoboken University Medical Center initially leveraging
their own employer-sponsored health plan as a prototype for other
organizations. MagnaCare provides the tools that the hospital
and physician practices lack in organizing patient care, moving the
entities forward in an orderly fashion.
Jin Oak Ha, managing director of CarePoint explains,
“CarePoint is pleased to partner its deep-rooted community resources
with MagnaCare, a proven expert in healthcare management.
Together, we can answer the call from employers who are in desperate
need of diverse provider networks and evolving medical management
services that cut healthcare costs and not employee coverage.”
MagnaCare’s tri-state PPO network, supporting 850,000+
group health members and covering plan members living outside the
catchment area, is contracted at commercially competitive Percent of
Medicare (RBRVS) – an attractive alternative to national and regional
carrier networks.
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