Self-Funding in Healthcare Trust schemes are used by larger companies/organisations as a more flexible and bespoke approach to private medical insurance. It is an alternative funding arrangement with the company/ organisation self-insuring their own scheme. Through the trustees, the scope of the healthcare elements, benefits, terms and conditions, eligibility can be clearly defined.
Patient Advocate offers the management of employee healthcare schemes operating under discretionary trust. This allows a more flexible approach to benefit provision as well as providing bespoke benefit structures, nurse led claims management and administration facilities and ultimately offering significantly better value for the employer’s healthcare budget.
Advantages from a Patient Advocate Healthcare Trust
The unique option to integrate more suitable NHS treatment pathways, where appropriate, into the client’s healthcare trust gives sponsoring organisations, for the first time in the UK, real control over their spend. Nurse-led Case Management can be utilised in a bespoke Hybrid Healthcare Trust in several ways and will differ from client to client, some imposing protocols to utilise NHS services for specific high cost conditions whilst others set voluntary protocols. All Patient Advocate Healthcare Trusts can be written to suit the needs of individual companies/organisations and no two are the same.
Our Case Management systems and protocols ensure careful stewardship of client funds and cost of claims on average are 25% lower than private medical insurance. It is the more effective micro-management of claims costs and the case-by-case negotiation with providers, without compromising the medical care being provided, that differentiates Patient Advocate from the rest of market.
Streamlined client administration delivered to exceptional service standards at a highly competitive management charge. Flexibility to administer the Trust according to the design and protocols required by the company/organisation. Tailor make the benefit schedule to suit their own organisation’s needs and different risk groups can have different benefit design & cost containment measures within the same trust. Design their own restrictions and exclusions that their company/organisation wishes to impose. Include their own range of health-related products that they wish to make available for their staff. Total transparency in the health spend with up-to-date cost reporting.
Companies/Organisations that move to a Trust basis do so for a variety of reasons including: No Insurance Premium Tax to pay saving 12% at present on claims fund or case and claims management; Lower P11D benefit-in-kind; Improved cash flow with money injected into the Trust as and when required to pay claims; and interest paid on surplus funds held in the Trust.
Patient Advocate, on behalf of its clients, receives, pays and settles, provider invoices for diagnostic investigations, consultations and treatments for our Healthcare Trusts.
To design a Patient Advocate Healthcare Trust scheme tailored for you contact:
+44 (0) 20 7160 9737