Catholic Health Initiatives, Denver, launched Captive Management Initiatives, a management and consulting company for captive healthcare insurers in the Cayman Islands.
The for-profit subsidiary signed its first client, CHIs First Insurance Initiatives, in early February, said the startups managing director, Peter Jones. The company, based in the Cayman Islands, is expected to target faith-based or not-for-profit clients with existing captive insurersinsurers that cover their parent companiesor those seeking to establish such companies, he said. Roughly 280 captive healthcare insurers operate in the Cayman Islands, which, by law, must work with a local management company, he said.
CHI is seeking greater efficiency by creating its own management company in an effort to reduce costs and redirect savings toward healthcare operations, Jones said, and the company will seek to build on a history of collective business ventures among Catholic providers. CHI isnt the only system operating a healthcare management outsourcing company. Nashville-based HCA owns National Patient Accounts Services, Louisville, Ky., which manages and collects on patient accounts in the first 90 days to 120 days after patients leave the hospital. -- by Melanie Evans
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