Oct. 1998 – Company founded by physicians as a New York City- based Medicare managed care organization with a unique and proven model for delivering high-quality, cost-effective healthcare services to the Medicare population.
Oct. 1998 – July 1999 – Signed up 30 physicians and raised $1 million in capital.
July 1999 – Dec. 2001 – 2 ½ years of solid growth. 5000 members, 30 full time employees.
2002 – The Balanced Budget Amendment negatively affects Medicare reimbursement. National and regional health plans withdraw in droves from offering Medicare beneficiary’s healthcare products and services. Medicare falls out of favor nation-wide.
Touchstone Health stays the course.
2003 – Strong infrastructure built. Hundreds of physicians join network. Achieved profitability. HMO contract restructured. National HMO’s contact Touchstone Health to inquire about partnership opportunities.
March 2004 – Increased payments to Medicare [reform] now attracting renewed interest from managed care organizations and seniors.
The Federal Centers for Medicare & Medicaid Services [CMS] require that these increased funds be used for such purposes as reducing beneficiary premiums or co-pays; enhancing benefits; and stabilizing or expanding provider networks available to seniors.
Oct. – 2004 – Touchstone Health awarded New York State’s first Provider Sponsored Organization license from the federal Government.
Becoming dominant player in Medicare. 450 physicians now part of our network. 100 full time employees. Let’s see what is our corporate officers do.