Asheville, North Carolina, October 6, 2015 – Capstone Health Alliance, a regional purchasing organization of healthcare members across the eastern states spanning to the mid-west, announced a groundbreaking partnership with Wells Fargo Insurance Services, one of the largest financial services companies, and Premier Insurance Management Services, a for-profit corporation and subsidiary of Premier, Inc., to bring Capstone members new savings in Stop Loss Insurance Solutions. Through this agreement, self-funded Capstone members will receive assistance in reducing fixed costs, improving contractual limitations and exclusions, and managing financial exposure with stop-loss solution strategies.
The new Medical Stop Loss Insurance program will provide Capstone members with specific and/or aggregated coverages, medical and prescription covered expenses, and access to carriers with strong hospital experience.
Of the new agreement partnership, Capstone President & CEO, Tim Bugg, has said “Capstone has long-term relationships with Wells Fargo and Premier, who are both nationally recognized for their outstanding offerings to healthcare providers, and we acted on the opportunity to bring our three organizations together to provide enhanced value to our member hospitals for Stop Loss Insurance. This is truly an innovative approach to identifying cost savings for our membership.”
About Wells Fargo Insurance
As one of the largest financial services companies, we are able to provide a wealth of resources to our clients. Recently named North America’s Best Insurance Broker for 2015 by Global Finance Magazine3, Wells Fargo Insurance provides solutions and services to healthcare institutions across the country. Healthcare represents one of Wells Fargo Insurance’s largest business segments, and providing cost competitive and comprehensive programs to alliances such as Capstone and PIMS is a major focus of the Healthcare Practice. Our national accounts team is focused on your program and will deliver a group of professionals with significant healthcare experience across the country.
About Capstone Health Alliance
Headquartered in Asheville, NC, Capstone is a regional purchasing organization of healthcare members that includes more than 145 hospitals in states across the east spanning to the mid-west. Capstone’s contracting strategy allows hospitals of various sizes and locations to substantially improve their cost savings opportunities through the power of aggregation and collaboration. Capstone delivers quantifiable savings and actionable data that enable better supply chain decisions for its member healthcare facilities. In addition to cost savings initiatives, Capstone members collaborate to share best practices and pursue resource utilization initiatives, all with the intent of improving cost, quality, and outcomes in patient care.
About Premier Insurance Management Services, Inc. (PIMS)
Incorporated in 1987, PIMS is an Illinois for-profit corporation and subsidiary of Premier, Inc. PIMS provides contracted management services for AEIX, and is attorney-in-fact for Premier Insurance Exchange, Risk Retention Group (PRx). PIMS also serves as program manager offering enhanced endorsed programs with leading commercial insurers through a comprehensive portfolio of property, casualty and employee benefit products. Other services include providing claims and risk management assessments and education offerings regarding medical professional liability for hospitals and their physicians. For more information, visit https://www.premierinc.com/insurance.