Russell J. Lloyd is an experienced senior level Healthcare Executive that is goal-oriented with a demonstrated track record of leadership in many aspects of Healthcare. His range of experience includes working with companies from conceptual start-ups to mature healthcare organizations. Mr. Lloyd has gained his experience through working in various healthcare settings including; hospitals, physician practices, physician hospital organizations, integrated delivery systems, health maintenance organizations, provider networks, long-term care organizations, healthcare claims payors, medical management firms, care coordinating companies, Pharmacies, pharmacy benefit managers, and home healthcare agencies.
Mr. Lloyd has a very broad range of healthcare management experience with emphasis in Strategic Planning, Organizational Development, Leadership, Finance, Marketing, and Operations.
From 2001 – the present Mr. Lloyd is the Founder and CEO of Basic Benefits, Inc. (Consulting), located in Zanesville, Ohio. Mr. Lloyd works with clients to measure their effectiveness of current organizational structure and strategic plans through leadership, team building, financial analysis, and forecasting. He offers expertise in organizational development focusing on the design and implementation of strategic planning initiatives, negotiate contracts on behalf of clients to meet the needs of the strategic plan. And consults with clients directing the operation of management functions through planning, organizing, staffing, influencing, and controlling the resources of the organization.
Mr. Lloyd has designed and implemented the strategic restructuring of a company that was going to be sold to a foreign company. By converting the assets of their Pension and Profit Sharing Plans into an Employee Stock Ownership Plan (ESOP) that resulted in the employees buying the company through the ESOP. Mr. Lloyd also is an Advisory Board Member of Genesis Healthcare System.
From 1989 – 2001 Mr. Lloyd was the President of Basic Benefits, Inc. (a Third Party Administrator) in Zanesville, Ohio. Mr. Lloyd directed overall management functions including technology systems, accounting systems, claims payment system, physician and hospital contracting, quality and efficiency improvement, and vendor contracting. Developed and implemented the strategic plan of the corporation and oversaw the operations of administering self-funded health plans to ensure regulatory compliance and operational efficiency/accuracy. Mr. Lloyd interacted with the Board of Directors concerning financial forecasts and reports, prepared financial reports, developed budgets, and performed variance analysis in accordance with the strategic plan. Mr. Lloyd built and led the operational teams in carrying out the overall mission of the corporation.
Mr. Lloyd was elected to serve on the Resource Information Management System (RIMS) national committee on the Consolidated Omnibus Budget Reconciliation Act (COBRA) team for system integration. Mr. Lloyd bought Basic Benefits, Inc. from Zandex, Inc. through a 100% stock acquisition. Mr. Lloyd was responsible for the growth of Basic Benefits, Inc. as went from paying $15+ million in annual claims to $100+ million in annual claims. Mr. Lloyd negotiated a joint user agreement between three unaffiliated Third Party Administrators and a leading software vendor, (Resource Information Management Systems), resulting in the combination of buying power saving 27% in user fees.
From 1982 – 1989 Mr. Lloyd was the Chief Financial Officer of Zandex Healthcare Corporation, in Zanesville, Ohio. Mr. Lloyd was responsible for closing and preparing monthly financial statements, audit reports, processing payroll, filing taxes, managing retirement plans, managing health plans, investing assets of retirement/health plans, performing monthly account reconciliations and monitoring general ledger transactions for several companies, including, (Physician Practices, Leasing Company, Drilling Company, Oil & Gas Production Company, Doughnut Shops, Chain of Pizza Stores, Dress Shop and Investment Company), owned by the Physicians who owned Zandex Healthcare Corporation.
Mr. Lloyd developed a self-funded Multiple Employer Welfare Arrangement (MEWA) to provide benefits to the employees of the companies owned by the Physicians mentioned above resulting in $200,000+ in annual savings. Through prudent investing of the assets of the retirement and health plans, ($20+ million in assets), Mr. Lloyd consistently generated returns in excess of the Standard & Poor’s 500 index. Mr. Lloyd also developed and launched a wholly owned subsidiary, Basic Benefits, Inc. to offer Employee Benefit Administrative Services to outside employers resulting in the generation of an additional revenue stream of $100,000+ annually for the company.
Mr. Lloyd holds a Masters of Science of Health Administration form Kaplan University in Chicago, IL and a Bachelor of Science, Accounting, Minor Math & Computer Science Degree from Muskingum College in New Concord, OH.