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INVESTING IN THE REGION
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By Debra Solomon Baker
 JIM ALLSUP
president,
Allsup Inc.
The mere thought of devoting countless hours of navigating through layers of bureaucratic mazes is enough to make even the strongest of individuals feel queasy. For those who are disabled, that task might very well seem insurmountable.
Therein rests the success of Allsup Inc. Since Jim Allsup opened the doors of his Belleville-based company in 1984, more than 70,000 individuals have opted to steer clear of the confusion and to just, well, stay home. Allsup Inc. serves as the intermediary between a disabled individual and Social Security Administration. The company, which Allsup likens to an H&R Block, has collected over $1.2 billion in Social Security Disability Insurance and Medicare benefits for its clients.
“We’ve been around a long time and we’ve got it down to a fine
science,” says Allsup, who worked for Social Security Administration before founding Allsup Inc.
Allsup typically collects 25 percent of the retroactive benefits that are awarded and only charges a fee if successful in obtaining benefits.
Mostly due to an aging baby boom generation, the market has grown considerably in the past five years. In fact, the overall number of disability claims has increased 60 percent from 2000-2004. However, Allsup Inc., the largest company of its kind in the country, handles less than one-percent of the market.
Allsup expects that this will soon change.
The bulk of Allsup’s business stems from contracts that it has
with large companies which provide long-term disability insurance to
its employees. These individuals are referred through their insurance companies. However, Allsup’s goal is to grow the segment which accounts for about 20 percent of his business—that of uninsured individuals.
“I anticipate that we will grow much larger,” Allsup says. “We have amassed resources and now have the capability to efficiently handle large volumes of cases.”
In addition to growing in volume, Allsup also has begun to tailor services to meet the unique healthcare concerns of the uninsured.
“We are trying to access what the person needs, whether it be drugs or surgery, get it at the lowest price, and help them figure out how to handle the finances.”
Allsup, who now oversees more than 350 employees, has come a long way from the days when he was, literally, a one-man operation.
“We provide a truly valuable service. I get letters all the time thanking me for what we do.”
LEADERSHIP CIRCLE INSIGHTS
What is your motto for success?
“Listen more.”
HUGH GRANT
chairman, president & CEO,
Monsanto Company
“A great leader is a ‘change agent’ and an individual that has the desire and talent to connect with all levels of the organization.”
BILL KEENA
regional president of
Missouri/Iowa region,
Harrah’s St. Louis Casino
and Hotel
“I think Thomas Edison had it right. He called it genius, but I’ll call it
success—it's one percent inspiration,
99 percent perspiration. Perseverance is the key.”
SAM FOX
chairman & CEO,
Harbour Group Ltd. |
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