Data is paramount in determining financial outcomes and intervention strategies. Our reporting focuses on delivering consistent information that identifies and measures key plan cost drivers, how current trends can influence future costs and provides a clear action plan for financial and benefit program planning.
We understand the significant financial investment companies make in offering competitive medical benefits to their employees. Our Data & Analytics team provides comprehensive financial analysis to identify plan trends and cost drivers. Periodic reporting allows for year-round review of current plan performance as well as forward-looking projections. We provide both financial and utilization reporting to identify clinical cost drivers. Our detailed approach effectively positions clients to mitigate plan cost increases by identifying opportunities for savings.
After evaluating your current benefit costs, plan design and future projections, we assist you in determining the financial impact of near and long-term benefits strategies.
We analyze current and prior data to create a management report showing past, present, and future financial impact. The report is customized to your business structure and plan offerings. We also layer in your employee contribution structures to illustrate the net cost of the plan to your company. Our budgeting and forecasting components provide clients with clear data to evaluate future trends and make necessary cost adjustments.
We provide fully insured groups interested in self-funding a comparative look between fully insured and self-funding. Our detailed analysis determines the viability (costs vs. benefits) of each option to assist with making the wisest decisions about their benefit plans, as well as a financial statement summary to illustrate clearly how the funding affects the company’s financial statements.
When we design competitive programs for you, a key element is benchmarking your organization to published industry norms. We are able to evaluate competitiveness based on geographic area, employer size and certain industry groups relevant to where you want to compete for the market place.