Podcast Show Notes

What if you had a cost containment firm on your side that could not only help you make sure you have a compliant and defensible Plan Document but also help you create a benefit that could lower cost while improving benefits?  Sound too good to be true?  Well, it’s not but you do need to have realistic expectations.  Understand that self-funding to be effective is not easy and will require effort, communication, and choice of the right partners.

In this episode we talk with Adam Russo, the CEO of the Phia Group.  We learn about his humble beginnings and problems Phia solves, we will also learn about his leadership and passion that drives his company to not only deliver compliant plans, but also deliver value through being an incubator of innovation and cost containment.

The Phia group specializes in cost containment through Plan Compliance by educating Plan Sponsors, TPA’s, Brokers, and Stop Loss carriers on how to design a plan document to enable cost containment plus educating employees.  We also discuss Phia University, levels of self-funding expertise, Phia’s perspective on Reference Based Pricing.  If you are considering reference based pricing as a cost containment vehicle, then you’ll want to hear Adam’s perspective for how to set it up correctly to get employee buy-in for the transition.

What Phia can do on your behalf that your broker or health plan can’t:

• Review your plan document and assure the cost containment programs you want to implement are properly addressed in your Plan Document.
• Be your Plan Fiduciary for final claim appeals determinations and be your advocate to help you understand how and why the decision was made.
• Negotiate with Hospitals and Providers to protect your employees.
• Balance Bill Negotiation & Defense of Claim Settlement
• Help with proven cost containment strategies and assure that the plan language is correct protecting your employees and your plan.

If you would like to learn more about how Phia or other companies we interviewed fit into your corporate benefits program or a review of what else could help your plan improve benefits and save money please reach out to me either on LinkedIn(Michael Andrade) or connect with me on my website, https://solvinghealthcare.net/contact/