Avalon Healthcare Solutions Appoints Health Care Service Corporation Executives to its Board of Directors
TAMPA, Fla., July 30, 2018 /PRNewswire/ -- Avalon Healthcare Solutions (Avalon), the industry's leading comprehensive Laboratory Benefit Management (LBM) company, is pleased to announce that Carl McDonald, Treasurer and Finance Division Senior Vice President at Health Care Service Corporation (HCSC), has joined its board of directors and Sahil Choudhry, Executive Director, Corporate Development & Venture Investments at HCSC was appointed as a board adviser. The board appointments coincide with HCSC's investment in Avalon.
Mr. McDonald has responsibility for HCSC's investment portfolio, venture capital investments, corporate transactions, and subsidiary management. Mr. Choudhry leads the planning and execution of HCSC's strategic investments, while identifying and managing strategic partnerships for HCSC.
"Health plans are challenged to keep up with changing lab science and enforcing their policies," said Avalon's CEO, Dr. Bill Kerr. "This leads to overutilization and a need for a comprehensive lab benefit management solution. Carl and Sahil's health plan experience and leadership will provide key guidance to support Avalon's growth." Within the next several months, Avalon will deploy services with new and existing clients to further extend its market-leading position.
"Avalon's administration of science-based lab policies through innovative technology has proven to reduce medically unnecessary testing," said Mr. McDonald. "Their comprehensive approach to lab management is unique to the industry. Genetic testing is growing rapidly and needs to be managed, but the bulk of excessive lab spend occurs in high-volume, low-cost test categories. Avalon's solution is perfectly suited to address these challenges."
About Avalon Healthcare Solutions
Avalon is a healthcare information technology and specialty benefit management company focused on laboratory testing. Avalon provides a comprehensive program managing all outpatient laboratory services across all providers, including independent, physician office and hospital-based labs. Using an independent Clinical Advisory Board (CAB), Avalon has developed a suite of science-based lab policies addressing all lab testing categories. These policies are administered through proprietary, automated technology to remove inappropriate utilization and typically saving health plans 7% to 12% on outpatient lab spend. For more information about Avalon, please visit www.avalonhcs.com.
About Health Care Service Corporation
Health Care Service Corporation is the country's largest customer-owned health insurer and fourth largest health insurer overall, with more than 15 million members in its Blue Cross and Blue Shield plans in Illinois, Montana, New Mexico, Oklahoma and Texas. A Mutual Legal Reserve Company, HCSC is an independent licensee of the Blue Cross and Blue Shield Association. HCSC has a rating of A+ (Strong) from Standard and Poor's, A1 (Good) from Moody's and A (Excellent) from A.M. Best Company. For more information, please visit HCSC.com, visit their Facebook page or follow them at https://twitter.com/HCSC.