Joseph Caruncho is a founder and chief executive officer of Preferred Care Partners, one of the largest Medicare Advantage Health Plans in Florida. He started his career as a healthcare attorney and saw opportunity. Caruncho launched Preferred Care Partners in 2001 as Florida’s first and the country’s third Provider Sponsored Organization (PSO), a Medicare-Plus health plan owned by physicians providing patient care.
Caruncho says he and two of his senior executives started the company with savings and a plan to revolutionize the Medicare-Advantage industry. They initially struggled to get licensed, and the company existed for years without generating revenue and without any membership as they sought approval to operate as a Medicare Advantage Plan. Today, Preferred Care Partners employs 465. More recently, Caruncho has brought in outside investors and completed an acquisition of Neighborhood Health Partnership.
His Miami company has been named one of the fastest growing companies in America by INC Magazine and has a network that includes 28 hospitals and more than 4,000 physicians throughout Florida. Caruncho said revenue topped more than $450 million in 2010 and should climb to $500 million this year. Steering a growing company through the recession takes strong leadership skills.
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Read: “Spearheading a healthcare revolution in Florida,“ an article by the MiamiHerald.com.