Employers in the US spend billions of dollars paying for health care for their employees. To put this in perspective, Starbucks spends more on health care than they do on coffee beans. But many employers aren’t exactly sure how much they’re spending on health care… how is that possible when self-insured employers have a co-fiduciary responsibility? Today I speak with Mike Dendy, Vice Chairman/CEO of Advanced Medical Pricing Solutions. Mike talks about the challenges employers face and what they can do to get a handle on health care and health care spending for their employees.
Mike Dendy is Vice Chairman & CEO of Advanced Medical Pricing Solutions (AMPS), an Atlanta, GA-based health care cost management company, serving the self-funded (ERISA) payer community. Since joining the Company in 2005, Mike has overseen all aspects of AMPS management, ranging from sales and marketing, to finance and client relations. AMPS has seen organic growth of over 300% over the last 5 years and has continued to increase its offerings in the healthcare cost containment space. AMPS clients range in size from those in the Fortune 500 to mid-sized regional employers.
Prior to joining AMPS, Mike served as Chairman & CEO of HPS Paradigm Administrators Inc. from 1997 until its subsequent sale in 2004. HPS Paradigm is a health insurance Third-Party Administrator (TPA) serving corporate and government employer groups throughout the United States. During his tenure as CEO, HPS Paradigm experienced strong corporate growth, increasing on average 50% in fee income per year, while achieving industry leading EBITDA margins of over 22%. In 2000, Mike oversaw HPS’ business process outsourcing (BPO) relationship with Memorial Hospital of Savannah, Georgia, which at the time was one of Georgia’s largest hospital systems. Mike served as Executive Director of Memorial’s TPA, HMO, PPO, UR/UM and Case Management services provided for the benefit of Chatham County area employers.
From 1992-1997, Mike founded and managed Health Partners Services, Inc. (HPS), a brokerage and consulting firm, which specialized in stop-loss insurance, benefit plan design, provider negotiations, pharmacy benefit management, disease management, predictive analysis, and cost containment. HPS developed community health system plans in a number of southeastern US markets and grew consulting revenues to $600,000 annually.
Mike holds 2 master’s degrees, from Georgia State University in Business Administration (MBA), and Healthcare Administration (MHA) and bachelor’s degrees from the University of Georgia in both Journalism and Psychology. In addition to his graduate and undergraduate achievements, Mike attended executive management programs at Harvard’s Business, Public Health, and Law Schools. Mike serves on the Advisory Board for the Robinson College of Business and the School of Healthcare Administration at Georgia State University and is the former Board Chairman for the National Safe Care Campaign. Mike was awarded the School of Health Administration’s Healthcare Executive of the Year in 2015.