Arch Health Division Partners With Tethys
Arch Insurance Group, a division of Bermuda’s Arch Capital Group Ltd., announced today (Jan.6) that it has formed a partnership with Tethys Health Ventures to provide 100 percent of its medical stop loss administration.
Premium collections, claims adjudication and large case management are the primary functions that Tethys will perform. Tethys will leverage its expertise in managed care administration, risk management, network management, government program eligibility, and medical care management for Arch’s accident and health (A&H) clients and brokers.
Arch Capital Group Ltd., headuartered in Wessex House on Reid Street, is a Bermuda-based company which provides insurance and reinsurance on a worldwide basis through its wholly owned subsidiaries.
Arch reinvigorated its A&H division in May, 2010. The division is a specialty writer of accident, disability and medical products – offering products not typically available through companies specialising in employee benefits.
“This partnership gives Arch a significant competitive advantage in the marketplace,” said Richard Richiski of Arch’s A&H Division. “Working with an organisation such as Tethys, given their expertise, means that our customers and brokers will gain access to proven medical case management support, government programme advocacy and strong network relationships to effectively control the costs associated with catastrophic medical events, while optimizing outcomes for our insureds.”
Arch’s arrangement with Tethys means that Tethys will provide specialised risk management services for complex medical conditions such as organ and bone marrow transplantation. In addition, they will provide risk mitigation services through disability advocacy programs for Arch clients and brokers. Tethys holds arrangements with many of the country’s most renowned medical providers to form an effective network of partner “centers of excellence”.
“Tethys has developed unique capabilities that assist our clients in mitigating and managing the costs associated with the most complex and costly medical conditions,” stated Tim Koch. CEO and president Tethys Health Ventures. “Our stated goal is to reduce risk and increase care. A team of dedicated case managers focus their efforts on superior service and developing innovative solutions throughout the spectrum of care. In partnership with Arch Insurance Group, we will drive positive outcomes and generate substantial payer savings for policyholders,” he said.
