HealthSpring Health Insurance
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HealthSpring health insurance is a Medicare-focused health insurance company based in Nashiville, TN. HealthSpring prides itself in its commitment to its customers and ability to expand into new regions while maintaining a sense of local response time and customer service. While HealthSpring was started only 10 years ago, they have managed to increase their region of productivity into six different states and are currently one of the largest Medicare Advantage coordinated plans in the United States.
In 2000, HealthSpring health insurance was created from the ashes of a fledgling Nashville-based health insurance company called Health Net by health care entrepreneur Herb Fritch. Health Net had fallen victim to a tumultuous time for the health care industry as a whole, but in only a few months, Fritch had managed to turn the company's losses into profits. By October of 2001, Fritch was ready to shed the moniker of Health Net in order to reflect the company's new direction and growth; HealthSpring was born.
Through a strong focus on the needs of people on Medicare and an innovative and specific approach to organizing and engaging physicians, HealthSpring began to grow rapidly. While most other health insurance companies were fleeing from the Medicare market, Fritch was beginning to thrive through meaningful partnerships with doctors.
With their new-age approach, HealthSpring bought a struggling, Birmingham-based health care company in November of 2002. And by the end of 2004, HealthSpring had bought Medicare plans in Houston, Chicago and parts of Mississippi. In 2005, HealthSpring continued its expansion into Texas, Tennessee and Alabama while also starting to offer a stand-alone Medicare prescription drug plan. By February 2006, HealthSpring had completed an initial public offering and began to be openly traded on the New York Stock exchange under the ticker symbol "HS." HealthSpring purchased Miami-based Leon Medical Centers Health Plans in October 2007, and by 2008 they'd expanded their territories to include parts of North Texas and the Florida panhandle. Amazingly, by the end of 2008, less than a decade from its beginnings, HealthSpring had reached 162,000 Medicare advantage members and 282,000 Part D-only Medicare members.
Much of HealthSpring health insurance's success can be attributed to their "P4Q" program. P4Q stands for Partnership for Quality and galvanizes the company's main components of business drive and direction. With its roots based on a physician model that focuses on quality rather than patient volume, the program is designed to offer the insured a meaningful and specialized health care experience. Moving forward, HealthSpring aims to maintain their physician partnership while fostering the alignment of interests of physicians, patients and health plan providers alike.