Company’s Innovative Self-Funded Healthcare Program Recognized for Providing Superior Benefits at a Cost-Savings of $340 Million
ORLANDO (June 12, 2018) – Rosen Hotels & Resorts in Orlando and owner Harris Rosen, Florida’s largest independent hotelier and company founder, recently won three awards at the recent World Heath Care Congress in Washington, D.C.
The company’s innovative self-funded healthcare program was recognized with three 2018 Health Value Awards:
- Lifetime Achievement, Health Benefits Innovation – Diamond Award – Harris Rosen
- Lifetime Achievement, Public Leadership – Diamond Award – Harris Rosen
- Large Employers – Silver Award – Rosen Hotels & Resorts
More than 350 healthcare organizations and employers competed to be named the best and brightest in the nation to improve health outcomes, reduce costs and implement innovative health industry practices. The judges’ criteria included a value proposition, longitudinal data to support better health outcomes at lower cost; performance metrics, credible methodology, purchaser testimonials, scalability, durability, disruptive approach and willingness to assume financial risk. Winners were announced at the 2018 World Health Care Congress in Washington, D.C., on Sunday, April 29, and were sponsored by World Congress, the Validation Institute and the Health Rosetta Institute.
Rosen is the founder of RosenCare®, a superior self-insured healthcare model co-created with Rosen associates Frank Santos, Jonni Kimberly, Ashley Bacot, Dr. Ronald Ryan and Kenneth Aldridge which has saved the company $340 million since its inception in 1991. The program is unparalleled in the Central Florida region and has sparked the interest of members of Congress, an Army Surgeon General and top executives from companies both large and small.
The trio delivered a keynote speech about RosenCare’s success at the World Health Care Congress in hopes the exposure would help educate the healthcare industry on effective alternatives.
“RosenCare began as a way for us to combat rising healthcare costs and to give our associates a better quality of healthcare and improved benefits,” said Rosen. “The simplicity and cost savings for the employer and employee make it a mutually-beneficial option that can be easily replicated across industries.”
Rosen’s Director of Risk Management and President of Provinsure, Inc., Rosen Hotels & Resorts in-house insurance company, Ashley Bacot, has been instrumental in attracting national attention for the RosenCare model with visits from the Chairman of the Congressional Subcommittee on Health, among others. Bacot spoke at the event on the program’s efficacy, along with Director of Health Services Kenneth A. Aldridge, Jr., RN, BSN, MS-H.S.A. who oversees daily operational aspects of the Rosen Medical Center, A Place for Healing and Wellness. Aldridge oversees the health plan’s Third Party Administrator (TPA), Pharmacy Benefit Manager (PBM) and other healthcare related initiatives along with strategic planning.
Through their collective efforts, RosenCare has reduced the Rosen Hotel & Resorts’ healthcare costs by $340 million since the program’s inception in 1991 and has the potential to reduce the nation’s healthcare costs by an estimated $1 trillion per year.
“The beauty of this program is that, despite the savings, our benefits are not sacrificed at all,” said Rosen.
Out-of-pocket costs for associates on the RosenCare plan are minimal. Most (approximately 90%) of prescription drugs are free, and the most a covered associate would have to pay for a specialty prescription would be $30. Same-day appointments are available and transportation to the Rosen Medical Center is free. Even with excellent coverage, the healthcare costs for RosenCare are about one half of the national average. RosenCare has even been partially credited for the company’s low associate turnover (possibly the lowest in the hospitality industry). The associate turnover rate is in the low teens, compared to the hospitality industry average of 50-80 percent.
The financial benefits of a healthcare model like RosenCare extend beyond the company’s bottom line and well into the local community. With the multi-million dollars in savings in healthcare, Rosen has been able to create numerous charitable initiatives through The Harris Rosen Foundation. These include providing hundreds of college scholarships to his associates and their dependents, as well as to hundreds of youth in underserved Orlando neighborhoods. In addition, it has enabled Rosen to build the Rosen College of Hospitality Management at the University of Central Florida – now ranked the number two hospitality college in the world – and the Jack and Lee Rosen Jewish Community Center; and recently to rebuild more than 100 hurricane-devastated homes in Haiti.
“The RosenCare model is good for employees, good for companies and good for the community,” said Rosen. “We owe it to ourselves to explore its viability on a national level.”
For more information, visit RosenCare.com