Timothy Hyde
Little Rock
Summary
A seasoned professional in health care consulting and administration, I excel in creating and implementing unique product solutions for a multitude of industry corporate leaders. My strategic vision and relationship management skills have consistently fostered positive and inclusive internal cultures, while delivering tangible financial results.
Overview
25
25
years of professional experience
Work History
Chief Executive Officer
Echelon Insurance Group, LLC
02.2021 - Current
- Partnered with local business owners focused in the nursing home industry to start a commercial insurance agency from scratch.
- Recruited a top local industry expert to form the Property and Casualty arm of the agency.
- Negotiated carrier contracts to align value and service to reduce client/employee costs while increasing benefits.
- Worked in tandem with a "sister" company to build a statewide PPO network, as well modifying an existing Medicare only TPA to a commerical TPA, creating a proprietary solution for self-funded employers.
- Convinced multiple business owners with varying risk tolerances to support a health captive to manage reinsurance risk for their health plans, and implemented the captive in less than 12 months.
- Inherited an existing proprietary Medicare Advantage sales force which operated with an average acquisition cost of approximately $1,000 per signed application. After making substantial modifications to the process, we moved the acquisition cost to $284 per application while increasing the rate of growth.
- While only focusing on "family" companies with the request to not grow organically until year five, was able to manage net revenue growth from under $80,000 in year one to just over $1 million in year four - positive cash flow every year, with no up front capital investment.
- Cultivated a positive, open, accepting, employee-centric culture which led to growth from one to 12 employees in four years with zero voluntary turnover.
Chief Executive Officer
Blue Chair Consulting, LLC
05.2019 - Current
- Formed when requested outside of my prior roles to provide health care consulting needs to a large regional bank, based in Central Arkansas.
- Assisted in transitioning a bank with over 2,000 employees from fully-insured to self-funded for their employer sponsored health plan.
- Created, marketed, and evaluated RFP responses for Pharmacy Benefit Management and high-cost specialty medications, and have seen millions of dollars in savings over several years since implementation.
- Marketed and supported decision making for stop loss renewals.
- Annually created actuarial analyses to determine appropriate employer and employee premiums.
President
ClaimDOC, LLC
01.2017 - 06.2020
- Recruited to create scalable, tech-driven operations, restructure internal controls and staffing, and utilize industry connections for client growth in the Reference Based Pricing space (RBP).
- Eliminated many unnecessary internal staffing redundancies and inefficiencies in a satellite office in Florida, while adding key roles and departments in the Des Moines headquarters. All were handled while living in Arkansas.
- Significantly enhanced an manual paper and spreadsheet model for claims repricing to a custom built electronic interface to allow for billing and clinical reviews of claims prior to adjudication.
- Helped develop a member-facing Member Advocacy department to assist employees with claims related issues.
- Ultimately became the "face" of the organization and led growth from an initial 5,000 employee lives upon my start to north of 55,000 lives in three years. Increased staff from less than ten to almost 100 upon my exit.
Vice President
HealthSCOPE Benefits
05.2013 - 01.2017
- Recruited to return to the organization after leaving to build Cornerstone Benefits.
- Focus on business development nationally.
- Led an Account Management team of two Account Managers, and four Client Relationship Managers overseeing my block of business.
- Consulted with employers across the country in utilizing non-carrier approaches to efficiently running employer sponsored health plans.
- Negotiated agreements with third-party partnerships to enhance our TPA offerings to clients.
- Led internal efforts to support and grow Reference Based Pricing opportunities.
President
Cornerstone Benefits
05.2012 - 05.2013
- Recruited away from HealthSCOPE Benefits by the owner to grow the agency and ultimately take it over upon her retirement.
- Oversaw existing client management while simultaneously prospecting new opportunities.
- Successfully renewed 100% of clients during my short tenure.
Senior Account Manager/Various
HealthSCOPE Benefits
06.2003 - 05.2012
- Began career in health care administration as a Client Relationship Coordinator, learning the industry from the ground up.
- Quickly was given a small block of business of "troubled" accounts to try and turn around existing service issues, and successfully retained the vast majority.
- Rose to a management level position within two years and oversaw the entire Arkansas book of business, along with a few national accounts ranging from roughly 120 employees to over 2,000.
- Lobbied with the executive team to allow adding business development to my role in 2007, along with account management responsibilities.
- Upon adding business development, successfully maintained a client renewal percentage annually over 95% and grew my block of business substantially. New clients ranged from coast to coast, with the largest being over 25,000 members.
Financial Advisor
Morgan Stanley
01.2002 - 06.2003
- Recruited from Merrill Lynch by branch manager after seeing success driven by someone fresh from college.
- Helped individuals and families build and execute wealth management strategies based on unique goals and objectives.
- Educated clients on various financial matters and provided professional recommendations on investment opportunities, products, and services based on each clients' individual needs.
Financial Advisor
Merrill Lynch
05.2000 - 01.2002
- Spent the first year as a non-commissioned Advisor within the most profitable team within the local branch.
- Gained Series 7, Series 66, and insurance licenses.
- Began building my own block of business after year one and quickly grew with all organic growth.
Education
Bachelor of Business Administration - Business And Communication
Mercer University
Macon, GA05-2020
Skills
- Health Care Consulting
- Self-Funded Administration
- Reinsurance and Stop Loss (Risk Management)
- Fiscal management
- Revenue growth
- Product development and expansion
- Corporate leadership
- Relationship management
- Executive leadership
Timeline
Chief Executive Officer
Echelon Insurance Group, LLC
02.2021 - Current
Chief Executive Officer
Blue Chair Consulting, LLC
05.2019 - Current
President
ClaimDOC, LLC
01.2017 - 06.2020
Vice President
HealthSCOPE Benefits
05.2013 - 01.2017
President
Cornerstone Benefits
05.2012 - 05.2013
Senior Account Manager/Various
HealthSCOPE Benefits
06.2003 - 05.2012
Financial Advisor
Morgan Stanley
01.2002 - 06.2003
Financial Advisor
Merrill Lynch
05.2000 - 01.2002
Bachelor of Business Administration - Business And Communication
Mercer University
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