SHPS
Encyclopedia
SHPS, Inc. is a national, single-source provider of benefits
administration services and health improvement programs through the company's SHPS HR Solutions and Carewise Health subsidiaries. The company employs approximately 2,000 people, and is headquartered in Louisville, Kentucky
with multiple locations throughout the United States
. SHPS HR Solutions offers benefits administration through spending accounts, COBRA
and direct bill, eligibility and enrollment, and print and fulfillment services. Carewise Health provides wellness programs, health advocacy, condition management and more.
Services. In December 1997, Prudential
Services and SYKES Enterprises, Incorporated formed SYKES Health Plan Services (SHPS), Inc.
In 2000, SHPS was purchased by Welsh, Carson, Anderson & Stowe
, a private equity
firm which focuses on information and business services, healthcare and communications.
In 2001, SHPS acquired CareWise, Inc., a provider of care management services to complement existing healthcare services offerings.
In 2003, SHPS acquired eBenX, Inc., a human resource and benefits administrator.
In 2004, SHPS acquired National Health Services, Inc. and Landacorp, Inc., two care management providers.
In 2006, SHPS introduced its enhanced health management delivery model.
In 2007, SHPS introduced a health risk engine to help employers strategically manage the clinical risk in their employee population. Also, in 2007, SHPS' Landacorp division released its CareRadius product suite, intended to simplify complex medical management processes and enable health plans to simplify work flow, improve health outcomes, and lower costs.
In 2008, SHPS launched its next-generation wellness solution, an internally developed wellness program delivered on the same platform as its other health management solutions. In that same year, SHPS also launched Carewise Health, a person-centric suite of integrated services designed to improve individual health and help companies optimize their healthcare spending and benefits delivery.
As a benefits administrator, SHPS does not provide the primary care or the insurance, rather it administers benefits to employees on behalf of their employers.
The following areas of benefit administration are offered by SHPS:
SHPS spending account services allow participants to set aside money, on a pre-tax basis, for various expenses depending on type. SHPS offers the following services:
SHPS facilitates both debit card and paper claims as well as custom communications for client programs.
and distribution
services offer assistance for print materials and other communications, including kitting, letter shop, bindery and mass distribution. These services are run from a print-on-demand facility in Louisville
. This is an extension to benefits administration as it is supporting healthcare communications by providing an outsourced means for a company to accomplish tasks in a manner they may not have been able to do as efficiently and cost effective on their own.
but the company has satellite offices in Atlanta, GA, Chico, CA
, Minneapolis, MN, Philadelphia, PA, Seattle, WA, Scottsdale, AZ, and Walnut Creek, CA
.
Employee benefit
Employee benefits and benefits in kind are various non-wage compensations provided to employees in addition to their normal wages or salaries...
administration services and health improvement programs through the company's SHPS HR Solutions and Carewise Health subsidiaries. The company employs approximately 2,000 people, and is headquartered in Louisville, Kentucky
Louisville, Kentucky
Louisville is the largest city in the U.S. state of Kentucky, and the county seat of Jefferson County. Since 2003, the city's borders have been coterminous with those of the county because of a city-county merger. The city's population at the 2010 census was 741,096...
with multiple locations throughout the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. SHPS HR Solutions offers benefits administration through spending accounts, COBRA
Consolidated Omnibus Budget Reconciliation Act of 1985
The Consolidated Omnibus Budget Reconciliation Act of 1985 is a law passed by the U.S. Congress on a reconciliation basis and signed by President Reagan that, among other things, mandates an insurance program giving some employees the ability to continue health insurance coverage after leaving...
and direct bill, eligibility and enrollment, and print and fulfillment services. Carewise Health provides wellness programs, health advocacy, condition management and more.
History
SHPS was founded in 1997, as a joint venture between SYKES Enterprises and Health Plan Services, and financed by PrudentialPrudential Financial
The Prudential Insurance Company of America , also known as Prudential Financial, Inc., is a Fortune Global 500 and Fortune 500 company whose subsidiaries provide insurance, investment management, and other financial products and services to both retail and institutional customers throughout the...
Services. In December 1997, Prudential
Prudential Financial
The Prudential Insurance Company of America , also known as Prudential Financial, Inc., is a Fortune Global 500 and Fortune 500 company whose subsidiaries provide insurance, investment management, and other financial products and services to both retail and institutional customers throughout the...
Services and SYKES Enterprises, Incorporated formed SYKES Health Plan Services (SHPS), Inc.
In 2000, SHPS was purchased by Welsh, Carson, Anderson & Stowe
Welsh, Carson, Anderson & Stowe
Welsh, Carson, Anderson & Stowe is a private equity investment firm in the United States. Founded in 1979, it has organized 14 limited partnerships with total capital over $16 billion and is currently in the process of raising a new $4 billion private equity fund Welsh, Carson Anderson & Stowe XI...
, a private equity
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
firm which focuses on information and business services, healthcare and communications.
In 2001, SHPS acquired CareWise, Inc., a provider of care management services to complement existing healthcare services offerings.
In 2003, SHPS acquired eBenX, Inc., a human resource and benefits administrator.
In 2004, SHPS acquired National Health Services, Inc. and Landacorp, Inc., two care management providers.
In 2006, SHPS introduced its enhanced health management delivery model.
In 2007, SHPS introduced a health risk engine to help employers strategically manage the clinical risk in their employee population. Also, in 2007, SHPS' Landacorp division released its CareRadius product suite, intended to simplify complex medical management processes and enable health plans to simplify work flow, improve health outcomes, and lower costs.
In 2008, SHPS launched its next-generation wellness solution, an internally developed wellness program delivered on the same platform as its other health management solutions. In that same year, SHPS also launched Carewise Health, a person-centric suite of integrated services designed to improve individual health and help companies optimize their healthcare spending and benefits delivery.
SHPS HR Solutions
SHPS offers a suite of benefits administration solutions to support the needs of employers and self-funded group plans. SHPS targets specific market groups, including large and mid-sized organizations and federal, state and local governments.As a benefits administrator, SHPS does not provide the primary care or the insurance, rather it administers benefits to employees on behalf of their employers.
The following areas of benefit administration are offered by SHPS:
- Eligibility & Enrollment
- Spending Accounts
- COBRA & Direct Bill
- Print & Fulfillment Services
Eligibility & Enrollment
SHPS eligibility and enrollment service is a benefits administration solution that supports high volume, multi-carrier transaction processing. It captures benefits data for health, dental, vision, disability, retirement and other employer-paid benefits.Spending Accounts
-
- Health and dependent care spending accounts for use on common out-of-pocket expenses;
- Health reimbursement arrangements which are funded by employers to reimburse employees for qualified healthcare expenses. Unused funds can roll over from year to year;
- Health savings accounts which are employee-owned accounts linked to high-deductible health plans that permit unused funds to earn interest; and
- Commuter spending accounts which offer employees a tax-advantaged way to pay for transit, vanpool and parking costs.
SHPS facilitates both debit card and paper claims as well as custom communications for client programs.
COBRA & Direct Bill
SHPS manages the administration of COBRA for terminated employees and other qualified beneficiaries, including enrollment, billing, payment collections, communications and call center support. Direct bill collects premiums from individuals and groups, including retirees and employees on disability, Family Medical Leave and other leaves of absence.Print & Fulfillment Services
SHPS fulfillmentService fulfillment
Fulfillment of telecommunications services involves a series of supply chain activities responsible for assembling and making services available to subscribers...
and distribution
Distribution (business)
Product distribution is one of the four elements of the marketing mix. An organization or set of organizations involved in the process of making a product or service available for use or consumption by a consumer or business user.The other three parts of the marketing mix are product, pricing,...
services offer assistance for print materials and other communications, including kitting, letter shop, bindery and mass distribution. These services are run from a print-on-demand facility in Louisville
Louisville, Kentucky
Louisville is the largest city in the U.S. state of Kentucky, and the county seat of Jefferson County. Since 2003, the city's borders have been coterminous with those of the county because of a city-county merger. The city's population at the 2010 census was 741,096...
. This is an extension to benefits administration as it is supporting healthcare communications by providing an outsourced means for a company to accomplish tasks in a manner they may not have been able to do as efficiently and cost effective on their own.
Carewise Health
Carewise Health helps organizations improve the personal health of employees and control healthcare costs. Their health and wellness programs help members build the skills they need to achieve and sustain optimum health. Medical Bill Review ensures that health plans and self-insured employers are billed accurately for the care their members receive. Landacorp, a division of Carewise Health, creates care management software that enables highly efficient collaboration among health plans, providers and members.Location
SHPS is headquartered in Louisville, KentuckyLouisville, Kentucky
Louisville is the largest city in the U.S. state of Kentucky, and the county seat of Jefferson County. Since 2003, the city's borders have been coterminous with those of the county because of a city-county merger. The city's population at the 2010 census was 741,096...
but the company has satellite offices in Atlanta, GA, Chico, CA
Chico, California
Chico is the most populous city in Butte County, California, United States. The population was 86,187 at the 2010 census, up from 59,954 at the time of the 2000 census...
, Minneapolis, MN, Philadelphia, PA, Seattle, WA, Scottsdale, AZ, and Walnut Creek, CA
Walnut Creek, California
Walnut Creek is an incorporated city located east of the city of Oakland. It lies in the East Bay region of the San Francisco Bay Area. While not as large as neighboring Concord, Walnut Creek serves as the business and entertainment hub for the neighboring cities within central Contra Costa...
.
See also
- Health consumerismHealth consumerismHealth consumerism is a movement which advocates patients’ involvement in their own health care decisions. It is a movement from the “doctor says/patient does” model to a partnership model. Health consumerism tries to encourage health information empowerment and the transfer of knowledge so that...
- OutsourcingOutsourcingOutsourcing is the process of contracting a business function to someone else.-Overview:The term outsourcing is used inconsistently but usually involves the contracting out of a business function - commonly one previously performed in-house - to an external provider...
- Healthcare
- Health economicsHealth economicsHealth economics is a branch of economics concerned with issues related to efficiency, effectiveness, value and behavior in the production and consumption of health and health care...
- Management consultingManagement consultingManagement consulting indicates both the industry and practice of helping organizations improve their performance primarily through the analysis of existing organizational problems and development of plans for improvement....
- Third party administratorThird party administratorA Third Party Administrator is an organization that processes insurance claims or certain aspects of employee benefit plans for a separate entity. This can be viewed as "outsourcing" the administration of the claims processing, since the TPA is performing a task traditionally handled by the...