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Analysis & Cost Control
The Price You Deserve for the Solution You Want
We know that the overall increasing costs of health care are a major concern just as employee expectations are also rising. Minimizing any new internal and external costs is a mission-critical priority so we’re here to make sure your investment in your employee benefits plan is strategically sound and economically sustainable. We’ll ensure that you balance your employees’ needs with your own capabilities, budgets and bottom lines so you get exactly what you need, when you need it, with an eye toward controlling costs, both now and in the future.
A significant differentiator between us and our competitors is the sheer volume of resources we employ in the area of data analysis – in terms of consulting tools as well as people. These analytical resources are typically included in your core services with no additional charge. We focus our data analysis efforts on appropriateness and accuracy, which means we recognize both the power and the limitations of data. As your advisor, we have the requisite understanding of the various data and their relevance and appropriateness for use in decision making and cost estimation, and we’ll use that knowledge to guide you in the most effective use of all of your sources of information.
With our statistically founded analytical tools, we’re able to identify claim trends, cost drivers, forecast future health care costs and analyze optional plan design and funding alternatives, with reliability and certainty. Additionally, instead of relying on self-reported survey results, we have real time data to benchmark your programs. These data tools are used to measure the competitiveness of your current benefit program and provide supporting data to make recommendations and decisions. They also allow us to evaluate and analyze your claim costs and plan utilization against industry norms, perhaps the most critical factor in establishing sound cost management strategies. We have access to several systems & surveys that provide us with valuable tools and metrics, so that we can provide you with current benchmarking data in a timely manner. We’ve also built a large library of direct employee surveys over the years that include employee satisfaction, desired employee benefits plans and overall satisfaction with their employment. These surveys are customized to our clients and can be in various forms; paper, email or web based. And we’ll do all the legwork and data input, so you don’t have to.
Once we’ve helped you understand how your cost and utilization metrics compare so you know where to focus, we’ll continue to measure and benchmark cost and utilization metrics over time to evaluate and adjust strategies as needed.
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Employee Benefits in the Non-Profit World
Learn how we helped one of our nonprofit clients save $120,000 on healthcare coverage for their employees while expanding coverage options.LEARN MORE