Theramatrix Physical Therapy Signs National Contract to Administer Outpatient Physical Therapy Benefits for Electrical Workers Insurance Fund Plan Enrollees Through 2016
The TheraMatrix program is expected to save Electrical Workers Insurance Fund valuable healthcare dollars annually, while ensuring quality care, transparency and high patient satisfaction
PONTIAC, Mich., Jan. 6, 2014 /PRNewswire/ — TheraMatrix Physical Therapy, headquartered in Pontiac, Mich., announced that effective January 1, 2014, the outpatient physical therapy benefits for all eligible Electrical Workers Insurance Fund enrollees, covered under the Electric Workers Insurance Fund Plan, will be administered by the TheraMatrix Physical Therapy Network (TPTN ).
TPTN has met or exceeded expectations for national customers and hundreds of thousands of patients entrusted to TPTN for outpatient physical therapy services. TPTN has improved access to licensed professionals, while delivering high-quality care — all with patient satisfaction consistently rated in the 98(th) percentile. Recent publications indicate that not only are healthcare costs soaring, but same treatments have costs that vary from site to site, creating a lack of transparency for individual consumers and businesses. The managed-care program innovated by TheraMatrix has proved to save healthcare dollars, while providing 100 percent transparency.
The Electrical Workers Insurance Fund plan is similar to the plan TheraMatrix administers nationwide for the UAW-Ford, UAW-GM and the UAW-Ford Retiree Medical Benefits Trust (VEBA). Since 2005, TPTN has successfully and seamlessly implemented its unique physical therapy carve-out program on several occasions.
A “carve-out program” is a cost-saving option many companies are considering at a time when healthcare costs are rising, profits are decreasing and jobs are declining. It means participants have a segment of their healthcare plan – e.g., the outpatient physical therapy benefit – administered by a specialty third-party administrator (TPTN). This “carve-out” of physical therapy benefits provides high-quality care and saves the client healthcare dollars, without a change to an employee’s current benefit design.
“Many Fortune 500 companies have started to see the opportunities the (TPTN) program offers,” said Robert E. Whitton PT, CEO of TheraMatrix. “Our experience providing this program on a national stage for UAW-Ford, UAW-GM, UAW-Ford Retiree Medical Benefits Trust (VEBA) and now nationally with Electrical Workers Insurance Fund, provides companies the opportunity to significantly reduce healthcare costs.”
Contact TheraMatrix corporate offices at 1-888-NET-TPTN (638-8786) or (248) 333-0104 for more information. Please visit the TheraMatrix website at www.theramatrix.com
TheraMatrix, headquartered in Pontiac, Mich., has more than 32 years of experience in physical rehabilitation that spans multiple offerings. TheraMatrix is recognized as the pioneer of innovative and unique programs, such as on-site industrial rehabilitation services, hospital-based programs, free-standing outpatient clinics and its one-of-a -kind national outpatient physical therapy managed-care network carve-out program. These offerings are utilized by leading Fortune 500 corporations and support the members of organized labor.
Pinto Public Relations
SOURCE TheraMatrix Physical Therapy