 |
CSMG named Dayton area's fifth-fastest-growing firm
DAYTON, Ohio, Sept. 10, 2004 – CareSource Management Group, which manages Ohio’s largest Medicaid managed health-care plan, has been named the Dayton area’s fifth-fastest-growing business by the Dayton Business Journal’s Fast 25 program. The Journal made its determination based on average revenue growth over three years.
CSMG manages CareSource, which has grown by almost 500 percent in the past five years. Membership in CareSource climbed from 59,016 in January 2000, to 75,590 in 2001, to 176,452 in 2002, to 262,311 in January 2003, to 323,537 in January 2004, with 350,000 projected by January 2005.
In 2003, CSMG took over administration of Community Choice Michigan, a Medicaid managed-care plan serving 56,000 members in 29 counties. Before CSMG came on board, CCM was losing more than $1 million a month. It is now projected to have $12 million in reserve by the end of the year.
CSMG has grown so fast for many reasons. First, we provide outstanding service for our members. CareSource covers all services that Medicaid fee-for-service covers, plus we offer extra benefits such as a member service center, 24-hour nurse hotline, case management services, transportation to medical appointments, gift certificate program for pregnant members, and educational newsletters.
Second, CSMG builds strong partnerships with our network of 8,000 health-care providers. We accept a variety of medical reimbursement forms, including electronic billing, and we pay providers quickly. For example, 95 percent of error-free claims were paid within 30 days in 2002.
Finally, CSMG believes that preventive care is paramount in promoting and maintaining health. Regular doctor visits help members find health conditions early, and disease management programs help them understand and live with chronic conditions. CareSource’s philosophy of prevention means that we score significantly above state expectations in many key clinical measures.
CSMG continues to grow and diversify. We are marketing our 24-hour nurse hotline to other health-care plans and examining opportunities to expand into other counties in Ohio as well as into neighboring states. Against the backdrop of increasing costs and decreasing satisfaction in health care, CSMG is as a solution to the problem. We provide a win for both the member, who stays healthy, and the state, which saves money while providing better care to Medicaid consumers.
The Dayton Business Journal’s Fast 25 program recognizes the region’s 25 fastest-growing companies, which will be profiled in a special publication and honored at an awards banquet Sept. 8. Nominees must be independent, for-profit and privately held; have reached at least $500,000 in revenue by 2000; be headquartered in Butler, Clark, Darke, Greene, Miami, Montgomery, Preble, Shelby, or Warren counties; and have been in operation for at least three years.
CareSource Management Group offers a full spectrum of services for companies that operate a managed health-care plan. Among CSMG’s services are administration, including claims processing and payment, case and medical management, provider relations, quality improvement, and regulatory compliance; 24-hour services, including a nurse hotline; and financial consultation and turnaround.
CSMG is affiliated with CareSource, which serves 342,787 Medicaid consumers in 13 Ohio counties -- Butler, Clark, Clermont, Cuyahoga, Franklin, Greene, Hamilton, Lorain, Montgomery, Pickaway, Stark, Summit and Warren.
|