HealthComp, the largest independent health benefits administrator in the country, today announced the appointment of Thomas Martel to the position of Chief Growth Officer (CGO). In this role, Martel will lead strategic initiatives to accelerate growth at HealthComp on a national scale. Integral to his role will be promoting HealthComp’s best-in-class results in containing healthcare costs, claims excellence, positively impacting clinical outcomes, and offering an exceptional experience for health plan members. Martel brings over 20 years of experience in the healthcare industry, most recently as president of large health plans at Cigna.
“We’re thrilled to have an executive of Tom’s caliber join the HealthComp team,” said Jose Rivero, CEO of HealthComp. “With his leadership in growing health plans and an in-depth understanding of the health benefits ecosystem, he’ll be instrumental in driving HealthComp’s next stage of growth from coast to coast. Tom has a long and proven track record of exponentially increasing sales and market share, while also optimizing value and engagement for employers and their employees.”
“I’m excited to join HealthComp at this critical juncture in the company’s trajectory,” said Tom Martel, CGO at HealthComp. “As one of the leading TPAs in the country, HealthComp has built a strong foundation for clinical, operational and service excellence. Their mission to reduce costs, improve outcomes and deliver a superior experience for plan members has been tremendously successful in the market. Now, with the backing and support of New Mountain Capital, we’ll aim at making these capabilities known across the country.”
HealthComp announced its partnership with New Mountain Capital, a leading growth-oriented investment firm with $33 billion in assets under management, in November 2020. HealthComp will leverage New Mountain Capital’s deep sector knowledge, growth-oriented philosophy, and industry relationships to build out its next generation TPA model and accelerate its growth on a national scale.
With outstanding performance in healthcare cost reductions, member satisfaction, and clinical impact, HealthComp has experienced tremendous growth in the past few years. It now administers health benefits for more than 630 employer groups across all 50 states.
“This is an opportune time for HealthComp as the health benefits landscape has shifted,” added Martel. “Many employer groups are finding that today’s double-digit cost increases are unsustainable. They want an approach that goes beyond the traditional offering and instead leverages the latest innovations, digital health programs, and advanced technology—coupled with member and concierge services that deliver a personalized, human touch.”
Working with a creative, cutting-edge health plan administrator like HealthComp, customers have experienced a medical trend that’s two-thirds lower than the national average. In fact, a third of HealthComp customers see a zero to negative healthcare trend. “That’s unheard of during this time when healthcare costs are anticipated to continue rising. But HealthComp’s data analytics and care management programs get to the root cause of cost increases,” said Martel. “As such, I’m really looking forward to bringing HealthComp solutions to a broader geographic audience.”
Martel’s previous roles include president of large health plans and large regions at Cigna as well as a dual role as president of the Regional Employer Segment and Chief Distribution Officer for Specialty Products (including prescription, behavioral health, cost containment, and care management) at Cigna. He has successfully driven superior business results and grown market share for large managed care organizations and worked with leadership teams to ensure development and execution of market strategies aimed at growth and maintaining customer focus. Martel also dedicates a significant time to philanthropic efforts that support the community.
HealthComp, a New Mountain Capital company, is the nation’s largest independent health plan administrator for self-funded employer groups. Along with medical, Rx, dental, vision, COBRA and HIPAA administration, we provide integrated solutions for flexible benefit plans including wellness management. HealthComp is the parent company of HealthComp (Fresno, CA), BAS Health (Homewood, IL), Benefit Assistance Company (BAC) (Ripley, WV) and Significa Benefits Services (Lancaster, PA). For more information about HealthComp, visit https://healthcomp.com/.