History of Devon Health
Devon Health Services, Inc. began as a radiology-specific Preferred Provider Organization (PPO) in 1991, and in four years transformed into an all-inclusive regional PPO in Pennsylvania, New Jersey, and Delaware. Devon Health provided network services to third-party administrators, insurance companies, unions, and other self-funded payors and, even early on, competed with national networks and insurance carriers.
In the mid 1990s, regional PPO networks became prevalent. While others lost revenue, were bought, or went out of business, Devon Health maintained clients and generated profits, but experienced limited growth in market share and exposure. Competition dictated that revenue and profit margins were liable to shrink.
Devon Health’s founder and CEO, Dr. John Bennett, and then COO (now president), Charles Falcone devised a way to keep Devon Health from becoming a stagnant, land-locked PPO. Realizing that many of their clients had members across the country, which forced them to work with several networks to provide medical access to their members, it became apparent that Devon Health had to go nationwide.
The company’s vision soon shifted from the idea of being a regional PPO network to becoming a National Healthcare Cost Management Company. In order to reach the next level of success, Devon Health began to strategically align itself with key companies to expand its access and product offerings. The company realized that it would be too costly and cumbersome to try to build networks in other states and would partner with existing networks instead. This enabled Devon Health to meet their clients’ ever-changing needs. These relationships allowed Devon Health to offer clients access to networks across the country, as well as a range of other products, such as Dental and Vision coverage, Claims Negotiation, and Pharmacy Benefits.
The goal became partnering with the “right” PPO and specialty networks, becoming a single source solution for their clients. Because of Dr. Bennett and Mr. Falcone’s industry knowledge and relationships, this goal became a reality. Executives teamed with sales, marketing and public relations, and client services at Devon Health to research other networks across the country, focusing on their access, service, and product offerings.
To determine the “right” PPO and specialty networks, the executive, sales, marketing and public relations, and client service teams at DHS researched other networks across the country, focusing one their access, service, and product offerings.
Because of the relationships Devon Health built with their clients, they were able to determine the type of products that were not only in demand, but necessary to complete a full portfolio of healthcare benefits.
Since 2000, Devon Health has experienced double-digit revenue growth and a client list that has increased twenty-fold.
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Devon Health is a partner with Doctor’s Advocate. Devon Health is concerned about the medical malpractice problem, and wants to assist in making a difference. Doctor’s Advocate’s mission is to combat frivolous lawsuits, raise awareness of the medical malpractice and healthcare delivery crises, and push for legislative malpractice reform.
Doctor’s Advocate offers an aggressive, inexpensive, and unmatched legal service that pressures plaintiffs’ attorneys into terminating frivolous lawsuits, monitors Medical Board investigations required by law, and prosecutes unethical plaintiffs, their lawyers, and hired medical experts. Doctor’s Advocate aims to put healthcare back into the doctors’ hands and allow patients access to the best possible quality care. www.doctorsadvocate.org
The Future
Since 1991, Devon Health Services, Inc. had the vision for excellence. Profits have increased annually for Devon Health, and much of that in contributed to selling quality products and services, and employing an exceptional staff. Devon Health prides itself on employee retention and providing opportunities for internal promotion.
Devon Health has also experienced rapid employee growth in the past five years. The company started with less than five employees in 1991, and now employs over 100 people. Many of the top Devon Health executives have been with the company since its inception.
More employees create more opportunities. Devon Health started with Accounting, Sales, Repricing, Credentialing, and Network Development departments in 1991. Now, Devon Health departments have expanded to include Data Management, Customer Service, Marketing and Public Relations, Product Development, Business Administration, Claim Negotiation, Client Services, and Hospital Relations.
Devon Health also has a vision of compassion for helping the community. Devon Cares, the philanthropic arm of the company, is an employee-based organization that orchestrates fundraisers to help various charities in the Philadelphia area.
The outlook for Devon Health’s future is progressive. With the managed care and healthcare industries constantly changing, Devon Health will keep its finger on the pulse of new technology, innovative products, and valuable services that will provide the best possible healthcare experience for their clients, providers, members, and employees.