Southeast Health Plans
Company Summary
Southeast Health Plans, Inc. is a service company founded by experienced medical insurance industry executives to both serve and capitalize upon the growing number of small and midsize companies that seek to control health benefits costs and manage risk by self-insurance.
The utilization of Blair Mill’s existing services, products and infrastructure enables Southeast to provide necessary service without incurring the costs of establishing proprietary programs. In addition, Blair Mill’s existing provider networks enable Southeast to serve employers with multiple locations or a wide-spread workforce.
Southeast targets those employers who have from 50 to 500 employees. Services include all-encompassing benefit management programs. Blair Mill Administrators will be utilized to provide benefits management services including:
- A full array of managed care services
- Patient care management
- Local, regional, and national provider networks
- Tailored administrative services
- Flexible plan design
- Underwriting and actuarial services
- Comprehensive information management and data reporting
- Thorough stop-loss insurance administration.
2.1 Start-up Summary
The following tables and chart show a summary of our start-up requirements and anticipated funding.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $0 |
| Consultants | $12,500 |
| Offering Expenses | $15,000 |
| Total Start-up Expenses | $27,500 |
| Start-up Assets | |
| Cash Required | $272,500 |
| Other Current Assets | $0 |
| Long-term Assets | $0 |
| Total Assets | $272,500 |
| Total Requirements | $300,000 |
| Start-up Funding | |
| Start-up Expenses to Fund | $27,500 |
| Start-up Assets to Fund | $272,500 |
| Total Funding Required | $300,000 |
| Assets | |
| Non-cash Assets from Start-up | $0 |
| Cash Requirements from Start-up | $272,500 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $272,500 |
| Total Assets | $272,500 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $0 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $0 |
| Capital | |
| Planned Investment | |
| Private Placement ’96 | $300,000 |
| Investor | $0 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $300,000 |
| Loss at Start-up (Start-up Expenses) | ($27,500) |
| Total Capital | $272,500 |
| Total Capital and Liabilities | $272,500 |
| Total Funding | $300,000 |
2.2 Company Ownership
Southeast Health Plans, Inc. is a privately-held Georgia corporation. It is owned by its founders and managing partners: James J. Peters, Thomas R. Cormier, and L. Richard Schumacher, MD.
The company has been established with the founders’ own capital. The founders have negotiated an exclusive strategic alliance with Blair Mill Administrators for certain markets in the state of Georgia.
The founders are now seeking to extend outside ownership interest for the first time in order to raise the funds required to execute the expansion plans of the business.
2.3 Company Locations and Facilities
Southeast Health Plans, Inc. currently occupies office space at … Atlanta, GA.
The phone number is … and the fax number is … .
The current offices provide sufficient space to launch business in the Atlanta and north Georgia market. More space will be required as the Atlanta market matures and central services are provided to other geographic markets. In addition, local sales offices will be required in other markets.
Increases in rental costs are included in the plan’s pro forma profit and loss as they are expected to be incurred.
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