Hospital & Health Care - Edison, New Jersey, United States
Comprehensive Healthcare Services (TSX.V: CHS) is a SaaS company that is automating the fragmented group health insurance market in the U.S.Group health insurance, or employer-sponsored healthcare insurance, involves several different service providers. These include:Insurers;• Healthcare Buyers (Employers, Unions, Self-funded employer, etc.);• Healthcare Consumers (Employees, Members, etc.);• Medical Providers (Doctors, Hospitals, etc.); And• Third-Party Administrators (TPAs) who can administrate and manage the insurance policies on behalf of the Insurers, Buyers, and Medical Providers.Each service provider listed generally represents an individual level within the group health insurance system. Nearly 50% of US workers (175M) received group health benefits in 2019. As of 2021, there is over 133,000 TPAs in the US. And many of these are small-scale TPAs that are not automated with reliant software systems.Thousands of new TPAs were created as a means to administrate and manage the increased demand on health insurance services when employer-sponsored healthcare become a means for companies to attract better talent.The result is a fragmented system that is expensive and inefficient.Therein lies the huge opportunity for Comprehensive Healthcare Systems.We have created 3 innovative companies to disrupt the fragmented employer-sponsored healthcare industry:1. LionGen - A licensed TPA in the State of New Jersey;2. Sterling - A comprehensive medical management program; And3. HPS Novus - An administrative software program for all stakeholders in the healthcare industry.Our SaaS solutions bring every individual service provider into a single platform for simple yet comprehensive management of all tasks.Our plan now is to acquire numerous low-margin TPAs and turn them into high-margin operations by implementing HPS Novus, our administrative SaaS solution.
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