Ventegra, Inc. announces it is the first to earn 2024 certification from HPfid’s newly launched program that demonstrates that the awardees comply with the fiduciary requirements of the Consolidated Appropriations Act, 2021.
Ventegra is the first healthcare company in the pharmacy benefits space to be awarded HPfid CAA certification – Validates Ventegra’s level of compliance and due diligence to meet CAA 2021 fiduciary requirements
GLENDALE, Calif. & OMAHA, Neb.--(BUSINESS WIRE)-- Ventegra, Inc., a Medical Benefit Manager (MBM) that delivers innovative, cost-efficient pharmaceutical and healthcare solutions to payors, providers, and members, announces it is the first to earn 2024 certification from HPfid’s newly launched program that demonstrates that the awardees comply with the fiduciary requirements of the Consolidated Appropriations Act, 2021 (CAA).
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The Consolidated Appropriations Act, 2021 (CAA) established protections for consumers related to surprise billing and transparency in health care.
This recognition by HPfid provides an important validation by an independent third party of Ventegra’s unique business model and Ventegra’s 20-year strong commitment to truth and integrity. HPfid is a CAA Compliance SaaS platform that helps employers comply with the Consolidated Appropriations Act, 2021 (CAA).
Robert T. Taketomo, Pharm.D., MBA, President/CEO, enthuses, “Ventegra is honored to be the first healthcare company in the pharmacy benefits space to be awarded this CAA certification. This further solidifies what our clients have always known about the transparency and integrity with which we conduct business.”
The HPfid CAA certification program was developed to help purchasers of healthcare identify those entities who are compliant with the applicable provisions of the Consolidated Appropriations Act while also providing guidance to industry of what is required for compliance with CAA.
Underscoring the significance of this distinction, Dr. Taketomo says, “With all of the challenges coming to light about how pharmacy benefits are administered under a traditional Pharmacy Benefit Manager (PBM), this CAA certification validates our Ventegra Medical Benefit Manager (MBM) business model and how we manage prescription benefit programs with a high degree of integrity.”
Dr. Taketomo further affirms, “This certification underscores Ventegra’s unique societal perspective on healthcare as we continue our transition into a nonprofit entity. Our stakeholders and the community we serve can be assured that they will continue to receive the right balance of access to medications, quality of care and cost. It is a difficult balance to achieve that is a core strength of the Ventegra MBM business model.”
Tony Sorrentino, JD, CPA, Chief Compliance Officer for HPfid, says, “The HPfid CAA certification program incorporates all of the experience of our team to distill the critical elements of CAA down to a single designation.”
Sorrentino explains, “A C-suite or HR executive can be confident that using an HPfid CAA certified entity for their healthcare benefits is proof of transparency in agreements, fees, and reporting in compliance with CAA in managing their ERISA health plan.”
In addition, a key benefit of the CAA certification program is its guidance to industry of the requirements necessary to be compliant with the appropriate provisions of the CAA. Any entity applying for certification would get a scorecard of their level of CAA compliance, and obtain an understanding of any requirements necessary to attain CAA certification from the HPfid program.
Ventegra remains one of the few independent entities in the market that directly contracts with manufacturers and passes on such discounts directly to clients. It is also the only B-Lab Certified California Benefit Corporation administering pharmacy and medical benefit programs under the MBM class-of-trade. To further its mission to provide more cost-effective healthcare to the communities served, Ventegra, Inc. is in the process of transitioning its business to Ventegra Foundation, a California Nonprofit Public Benefit Corporation.
About Ventegra, Inc.
Ventegra, Inc. is the legacy Ventegra that is dedicated to servicing Ventegra Foundation. A complex transition process has begun, and over time, Ventegra, Inc.’s mission will be fully assumed by Ventegra Foundation. www.ventegra.org
About Ventegra Foundation
Ventegra Foundation is a California Nonprofit Public Benefit Corporation. Its mission is to establish new channels for delivering better efficiencies and more cost-effective healthcare for the community that is served. Ventegra Foundation is expected to be fully operational by June 30, 2024. www.ventegra.org
About Health Plan Fiduciary Guides
HPfid leverages its unique expertise in healthcare transparency and fiduciary compliance supported by an ERISA attorney, professor, and former advisor to help employers become proactive purchasers of healthcare. HPfid helps employers and advisors navigate the hidden fiduciary risks of buying health plans and build strategies to protect assets and fiduciaries. For information contact Tony Sorrentino at info@HPfid.com, www.HPfid.com.
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Contacts
Peggy C. Frank, MBA
Director, Marketing and Public Relations
peggy@ventegra.org
818-642-6804
Source: Ventegra, Inc.
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