Discover the Critical Role of Claims Management
This well-known principle states that 80% of the effects come from 20% of the causes. Never was this truer than in the world of health insurance.
You manage every aspect of your business except your health insurance costs. And yet, with a fully-insured plan, most employers know little, if anything about where these costs come from or what can be done to manage them.
Twenty percent (20%) of the overall cost of your health insurance plan is associated with fixed items – administration, buildings, people, etc. Eighty percent (80%) is associated with claims. Trying to reduce your fixed costs by a few percentage points will not have the same effect as trying to reduce your claim costs by the same amount. And yet, every year employers focus their efforts in trying to reduce the fixed costs by a few points and do nothing to address the greater problem, managing their claims. Alternative funding arrangements completely change the dynamic of this situation.
Through our tools and resources, we engage with you to take proactive steps to manage and control every aspect of your health insurance program.
This enables you to help bend the cost trend, which results in savings that can be invested into other critical aspects of your business.