ELAP Services LLC (ELAP) announced today that it has appointed Jeff Bak to president. Mr. Bak brings to ELAP more than 25 years of experience in leading and growing health care services companies. He will work closely with co-founder and Chief Executive Officer Steve Kelly to spearhead ELAP's continued expansion as a national leader that is materially reducing health insurance costs on behalf of mid-size U.S. employers.
Mr. Bak most recently served as global practice leader of the Health, Life Sciences and Business Process Outsourcing (BPO) division for Wipro Limited. Previously, Mr. Bak was president and CEO of Tampa, Fla.-based HealthPlan Holdings, which he helped grow into the nation's leading technology and BPO solution for the individual health insurance industry. During Mr. Bak's 16 years with the company, he spearheaded HealthPlan's success in collaborating with the nation's premier insurers to reduce costs, increase speed to market and bolster membership, including expanding to serve more than a quarter of U.S. consumers utilizing the federal health insurance exchange. The company's revenues grew more than sixfold under Mr. Bak's leadership.
"Jeff has extensive industry knowledge and experience that makes him an outstanding choice to lead ELAP through our exciting period of growth and beyond," said Steve Kelly, co-founder and CEO, ELAP Services.
Founded in 2003, ELAP is a pioneer in developing and bringing to market new strategies and tools to substantially reduce health care costs for mid-size companies. On average, ELAP's clients realize up to 25 percent reduction in health care costs through the company's long-term and sustainable solutions. In 2017, ELAP chose to partner with Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, to expand its offering. In the past two years, ELAP has broadened its product portfolio, enhanced its member support services and forged new partnerships with health systems.
About ELAP Services
ELAP Services specializes in health care solutions that reduce insurance costs for self-funded employers. The company offers a full-service program that ensures employers, their employees and health systems receive a fair price for health care. From custom plan design to member advocacy, ELAP offers a portfolio of services that support clients with successfully navigating the changing health care climate and effectively managing their costs. Founded in 2003, ELAP has grown to serve more than 400 organizations, reducing their costs by as much as 25 percent. Headquartered in Wayne, Pa., ELAP is a company of the Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry.
