Through organic growth and strategic acquisitions, HealthSmart has evolved as a true leader in the healthcare field. For more than 45 years, it has been a trusted source for delivering integrated, self‐funded solutions. The Company’s headquarters is located in Irving, Texas, and it manages $6 billion in claims each year. HealthSmart maintains service operations throughout the country and has more than 1,500 dedicated team members.
HealthSmart is unique for its ability to integrate care management services―including wellness, pharmacy benefit management and business intelligence. As we move into the era of healthcare reform, HealthSmart will continue to lead the market with the products and services needed to meet the challenges of escalating healthcare costs and to empower it members to attain optimal health.
How We Did It
Aggressive Expansion Strategy
In 2003, the company launched an aggressive acquisition strategy to expand its scope and bring together other market leaders in Preferred Provider Organizations (PPO) and Third Party Administrator (TPA) industries. With this diverse group of products and services already in place, additional lives under management would only make each of the sister companies stronger and allow the company to offer its clients a greater degree of control over their health plans.
Third Party Administrator Acquisitions
Two critical acquisitions occurred in 2005. The first was the Fort Worth, Texas, based American Administrative Group (AAG). As a TPA, AAG had a legacy of servicing some of the largest Fortune 500 companies, as well as state governmental agencies. If these services were AAG’s history, then its unique retiree administration platform was its future. The second acquisition was the Lisle, Illinois, based Gallagher Benefit Administrators (GBA). A wholly owned subsidiary of one of the largest insurance brokerage firms in the world, Arthur J. Gallagher, GBA was an industry leader in its own right.
Following these acquisitions, the company more than doubled its revenues and tripled its earnings potential. The addition of these two significant acquisitions, combined with the existing Icon Benefit Administrators, allowed the company to become one of the largest TPAs in the country.
The company not only acquired complimentary healthcare companies, but also developed several of it its own key businesses. Those companies included HealthSmart Preferred Care, the leading independent PPO in Texas; Q-elements, a URAC accredited, full-service utilization review company; CareVu, a state-of-the-art technology company that can move claims in any format in any system in a fully electronic and HIPAA compliant manner; and employer-sponsored Free First Healthcare Clinics, which provides primary care, wellness, and pharmaceutical benefits at or near the workplace.
Merging With Interplan Health Group
In the fall of 2007, the company announced their merger with Interplan Health Group (IHG), a national health network, which resulted in a strategic alliance that brought value-driven healthcare to a nationwide client base. IHG's clients included local and multi-state employer groups, trust funds, insurance companies, third party administrators and self-funded employers. The merger also included AmeriScript and its Pharmacy Benefit Management services allowing HealthSmart to truly become a full-service integrated healthcare services organization, giving their clients and members the ability to control their healthcare costs from every perspective.
Well-developed Services Provide Nearly Endless Savings Options
Recently, HealthSmart acquired several top-notch companies, developed innovative technologies and utilized dedicated and creative professionals to position itself as a comprehensive healthcare solutions company with a fully integrated inventory of wholly owned products and services. We proudly serve over 1.85 million member lives across the country in synergistically linked business units within the healthcare marketplace.
We guarantee forward-thinking, high-quality products and services along with secure networks, credentialed providers, seamless administration and a dedication to making a positive, smarter impact on our customers and their members . . . for life!