Atlanta, GA – Broadspire has announced that it will add short‐term disability, long‐term disability, Family Medical and State Leave management to its existing global portfolio of products.
The new suite of products—collectively known as Integrated Disability and Absence Management Services (IDAM)—will be available in the fourth quarter of 2014. Broadspire is a global third‐party administrator of workers compensation claims, liability claims, medical management services, and risk management information services.
“Expanding into disability and absence management naturally complements our well‐established medical management and workers compensation return‐to‐work strategies,” noted Danielle Lisenbey, Broadspire’s chief executive officer. “As employers deal with ever‐increasing regulatory and administrative burdens and costs, Broadspire can provide a wide range of integrated disability and absence management services to meet the needs of their employees.”
Several factors are driving demand from employers for outsourced disability management programs such as Broadspire’s IDAM:
- An aging workforce is expected to increase absences, leaves and short‐ and long‐term disabilities
- The federal Affordable Care Act is expected to increase regulatory and administrative activities—as well as costs.
- Employers are responsible for abiding by regulations and keeping up to date with amendments and changes which can be quite challenging.
“We believe our total absence solution to be a fresh, clinically driven and integrated program designed as a seamless solution for controlling overall absence cost,” said Brenda Rarick, senior vice president, Global Strategy & Performance Management at Broadspire. Rarick emphasized that part of Broadspire’s strategic plan is to develop and expand into new products and services, and IDAM is one step towards that goal, where the company’s existing strengths can be leveraged into related areas.
Broadspire’s total absence solution is also designed to benefit employees who require support while at work, while attending to family members, or when they are recuperating during absences. Broadspire’s clinically focused model provides for on and off‐the‐job medical coordination, with a focus on making a difficult situation as positive as possible for employees who are trying to return to work.
Lisenbey noted that an absence management program should be designed to increase employee productivity and meet employers’ expectations. Broadspire has extensive capabilities in medical and vocational case management coupled with years of experience in claims management utilizing an employer centric model. While expanding its capabilities in disability and absence management it will be hiring highly experienced specialists.
Broadspire will also be selectively partnering with other well‐established firms that have mature, sophisticated solutions that will complement and enhance its total absence offering.
“One company we will be partnering with is ClaimVantage, a global software firm with a highly regarded claims management system with specialized capabilities,” said Lisenbey. “ClaimVantage has an innovative, cloud‐based platform with flexible integration; unlimited users and anywhere access to handle disability and absence management claims. Its system will streamline operations for Broadspire and its clients.”
“As the only global third‐party administrator, we believe that Broadspire has the experience, reputation and capabilities to offer a robust disability and absence management program,” stressed Lisenbey. “We are excited to be launching IDAM, and are looking forward to demonstrating what it can do.”
Source: Broadspire