The Sanford Company, Experience & History
Our current client base includes hospitals, health systems, long term care facilities, physician groups and an international health plan. We are involved with the formation and management of differing alternative risk vehicles for each of these organizations including captive insurance companies, risk retention groups, self insurance trusts or large deductible programs. We understand no two clients are the same so our approach to risk and insurance is to partner with each client in creating and implementing a management program that best suits their individual needs.
In addition, The Sanford Company has been an integral part in the formation, marketing, employee enrollment and eligibility, underwriting, policy, plan design and claims management and processing functions for a fully insured medical health insurance product. The program insures several thousand employee lives and utilizes a Preferred Provider Organization with various coinsurance and co-payment plans to provide effective managed care to stabilize health insurance costs to benefit both employers and their employees for their health insurance needs.
John S. Neel, Jr. is the founder of The Sanford Company which he started in October 2002. Prior to forming Sanford, Mr. Neel was Vice President of Insurance and Risk Management at Central Georgia Health System (CGHS). CGHS includes the Medical Center of Central Georgia, a 620 bed tertiary care teaching hospital. While employed by CGHS, he was responsible for the formation, management and administration of three Cayman captive insurance companies owned by CGHS. Mr. Neel served as Chief Executive Officer for all three of these offshore companies as well as served on the Board of Directors for each. Mr. Neel, a graduate of the Terry College of Business at the University of Georgia, is a licensed insurance broker in Georgia and received his CIC designation in 1990. He has been involved with the creation and operations of many captive insurance companies, Risk Retention Groups and other various types of insurance programs. He is a regular speaker at worldwide captive conferences and consults on insurance and risk management issues throughout the United States, Caribbean and London.
Executive Summary
Our current client base includes:
In addition, we were an integral part in the formation, marketing, employee enrollment and eligibility, underwriting, policy and plan design and claims management functions for a fully insured medical health insurance product insuring over 5,000 lives.
We have assembled a team of some of the very best, creative and brightest insurance professionals with years of experience on all sides of the healthcare industry. Our primary responsibility is to anticipate and provide creative solutions to the insurance problems our clients face. As our website says;
“We understand no two clients are the same. Our approach to risk and insurance is to work with each client in creating and implementing a management program that best suits their needs. We see our role as that of a partner rather than simply being a service provider.”
Sanford Company Services
The Sanford Company has been responsible for the formation, licensing and management of several offshore captives since our inception in 2002. We have built a reputation within our niche industry as being problem solvers finding the right solutions for the needs of our clients. Along with the domicile manager, we work with our clients own risk philosophy and corporate history as respects premiums, claims and financial strategy and we find the solution best for our them.
Working closely with our clients, our team will establish a new captive or evaluate an existing one to ensure that you have the most effective risk financing program and stable coverage for your assets and exposures. Our capabilities include:
Sanford’s management team has experience developing and managing captive insurance companies, risk retention groups and even fully insured programs for hospitals, long term care facilities and physician owned insurance companies. Our involvement does not end with the formation and licensing process, rather it is just the beginning of a long term partnership assisting our clients with the ongoing financial management, marketing, policy issuance, claims management and administration of their programs.
Reinsurance & Excess Insurance Placements
The Sanford Company has extensive “world wide” expertise in the negotiation and placement of excess insurance, reinsurance and fronting arrangements. Throughout the marketing and underwriting process our team is a partner working closely with domestic and foreign markets where we utilize our close relationships with healthcare underwriters. We worry about the details so our clients don’t have to, thereby allowing them to continue doing what they do best.
At The Sanford Company we pride ourselves on our insurance placement services which include:
Sanford always uses its creative skills in program design and rating to negotiate the best possible rates, pricing and terms and conditions. Our commitment to our clients during this process goes beyond a surface understanding of their needs. Our full range of services and attention to detail sets us apart from our competitors.
Claims Management & Administration
The Sanford Company philosophy is that early evaluation and favorable resolution continue to be the most important factors of any claims management program. We pride ourselves on delivering prompt, reliable service to achieve desired results. Our experience in the healthcare field allows us to accomplish these goals through our proven expertise. Sanford claims personnel provide independent assessments and solutions achieving cost reduction through assertive, cost effective management of our client’s claims.
The control of a claim from its inception is an indispensable element in the final cost of a claim. The investigation of each claim is directed by a professional claims representative to make certain every effort is made to obtain all of the facts needed to properly evaluate the claim. Sanford is not just an adjusting company or licensed TPA. We are a claims consulting company offering a high level of expertise, experience and professionalism to our clients. We have a certified Medical Director along with a Medical Advisory Board that separates us from any competition anywhere. Sanford has direct access to every surgical sub-specialty in the medical field to be able to provide firsthand knowledge by a Board Certified MD which sets us apart from the standard of using nurses for case management. This has proven to be invaluable over the years to our clients.
Our state of the art, sophisticated claims management system is designed to provide information for each particular clients needs. Including:
Risk Management & Loss Control
Traditionally, risk management in the health care industry has been a corporate or administrative function, often implemented because of requirements set by government regulations. Risk management programs often do not penetrate the corporate structure to the local facility level. Our risk management and loss control services help to provide a hand on approach with the focus on getting the facility’s employees involved in managing any risks they might face. Our programs empower all employees to be risk-minded by encouraging them to think about the actions of their clients and fellow employees.
The loss control program begins with a visit which is followed by an assessment of the facility and its employees. Based on the results, a risk management program can then be implemented and followed up with periodic loss control visits to the facility. We will then follow-up with any additional training needed until the facilities employees can successfully and comfortably handle any situations that might arise.
Account Management
Our service commitment doesn’t stop once a comprehensive program is in place. We continually monitor the program providing a continuous flow of information between our team and our client. Sanford’s account management services include:
Dedicated service team Providing updates of market cycles
Assist in the administration of claims Insurer Solvency Review
Assist in the analysis of: Pending Item Reviews
Coverage Issues
Conclusion