AIMS provides “total account service” that integrates claims administration, traditional insurance, non-insured membership systems, reinsurance, and alternative risk to simplify benefits administration for the employer while also keeping the cost of care reasonable and the risk of loss for employers and healthcare providers manageable, Third-Party Administration.
Advance Benefit Management Systems USA, Inc. (“ABMS”), a subsidiary of AIMS, is the “engine” of the AIMS management system. ABMS, a licensed Third Party Administrator, is the single point of entry for all of the services provided by AIMS. Whether an employee’s benefits are through traditional insurance or selfinsured plans, ABMS will provide a single point of contact for the employer and employee. This will create continuity and stability for employer and employee, and also allows AIMS to cross-market its other services (e.g., consulting) to its clients.
Catastrophic medical claims are a significant financial risk for self-funded groups. Through the use of reinsurance, a self-insured employer can cede, or transfer, this catastrophic risk to a reinsurer and trade unpredictable risk for a predictable premium. One of AIMS’ strategic partners is U.S. Advisors, Inc. This partnership allows AIMS to establish an additional profit center and revenue source from reinsurance offered to employer groups. U.S. Advisors offers Employer Stop-Loss (reinsurance) policies to AIMS employer clients.
The AIMS management team has many years of experience in alternative risk management solutions. AIMS shares this expertise with its clients, their risk managers and brokers. AIMS can provide an economic method of assessing risk and determining if a captive insurance model would be effective for the client.
The AIMS mission is to confront the medical care industry, primarily hospitals, to take a greater part in healthcare risk management. The confusion and uncertainty of the ACA will continue to cause financial questions for all medical providers. AIMS, under its “Moving Healthcare Management in a New Direction” banner, will focus heavily on gaining the understanding of hospital administrators to accept this greater responsibility of risk management. Recognizing that such administrators are not traditionally healthcare risk insurance managers, we intend to provide joint partnership arrangements that will allow multiple hospitals to “pool” financial risk and undertake product pricing and more importantly, community involvement in delivery of healthcare protection.