VARMED Management Group

VARMED Management Group, Corp. is a private company. It was founded in 2010 as a virtual company comprised of highly trained consultants that wanted to answer the need of PCPs from IPAs in PR to add resources and administrative support to help them better manage their practices and be able to spend more time treating them. It was conceived as a resource pool and administrative entity for IPAs serving mainly the Medicaid and Medicare Advantage populations in PR. VARMED has fulfilled that goal and it has grown and diversify. It now also services insurers and the commercial market. Varmed, a privately held domestic corporation founded the 21st day of June of 2010 under the laws of Puerto Rico and is solid financially. The company is a profitable and stable start up business, which shows consistent gross and net profit ratios. The Company has an average revenue growth of 100% over last year. Although Varmed is a virtual company, we have physical installations and employees on those installations including a call center. The reason we consider ourselves a virtual company is because must of our staff works as contractors. This allows us to have great flexibility in our resources. Since Varmed began it has provided services to 8 different IPAs and their providers, serving around 33,000 GHIP members and 4,000 Medicare Advantage members. In the process of servicing these IPAs and helping them better serve their members it became apparent to us that there were opportunities to improve health, provide better care, and create savings by addressing gaps in care, improving education, care transitions, case and disease management, access to services, removing social and behavioral barriers to care with government and community resources, and in general adding a number of resources to help PCPs care very especially for certain high cost and high risk members in their populations. VARMED then began creating partnerships. The Company attracted highly knowledgeable and experienced consultants, and developed a call/resource center with trained registered nurses, social workers, and other interdisciplinary team members. We developed partnerships with more IPAs, Triple S Salud (BCBSPR), and the government of PR and had been able to provide some care management services for a few hundred super utilizers but recently VARMED contracted with BCBSPR to provide services to 1,000 super utilizers of the Medicaid program and we are going to be increasing that number during 2014. VARMED will also be offering new services and products for the comercial and Medicare Advantage markets during 2014 as part of the diversification strategies and due to its close relationship with insurance coma pies in Puerto Rico.