The target for this product is the correctional market, which consists of state prisons, county and local jails as well as federal correctional facilities. A prison is a facility in which the inmate is incarcerated for an extended period of time (typically one year or longer). A jail is a facility in which the inmate is held for a shorter period of time, often awaiting trial or sentencing. The higher inmate turnover in jails requires that healthcare be provided to a much larger number of individual inmates over time but for short duration. Due to the high number of inmate with one or more chronic diseases the potential for hospitalization is high.
We believe this is a niche market that is currently under served in the insurance market place today. This product will help state, county and local governments smooth the variances in their budgets by removing their high cost claims. Private management companies will also benefit from using this product when they are in a risk taking position.
Features/Benefits:
- Budgeting takes the unexpected catastrophic claim out of the equation.
- Cost takes part of the sting out of increasing medical inflation, especially as it relates to tertiary care.
- Planning goes hand in hand with the budgeting process and maintains program consistencies with fewer surprises.