How to Reduce Non-Personnel Related Payroll Costs

No business is ever set up to crash in the long run. That is why many business executives are embarking on strategies to improve profits. Over time, this comes at a price; increased overhead cost and higher payroll expenses. Coupled with economic meltdowns, this can pose a financial burden. Without a doubt, one of the most surefire ways to generate enough funds to infuse them into other aspects of your business is to reduce payroll costs. When it comes to reducing payroll expenses, typical solutions can include cutting staff, redundancies, downsizing, and so on. But when you let your experienced

How to Reduce Non-Personnel Related Payroll Costs2020-11-23T10:57:01-05:00

Top Strategies to Reduce Overhead Costs

If there’s one thing that holds for businesses, it’s that to make money, you have to spend money. However, it doesn’t necessarily mean spending it aimlessly, especially since there are areas where you can cut back. One such area is overhead costs. Without proper planning, you will sooner find out that these costs can quickly drain your revenues. We have prepared this guide to help you reduce overhead costs by a considerable margin with little to no risks. Here are the top strategies we recommend so you can reduce your overhead costs for good: Hire an Accountant Hiring an accountant

Top Strategies to Reduce Overhead Costs2020-11-16T11:06:22-05:00

Self-Insured Employers and Pharmacy Benefits

The COVID-19 pandemic has affected all sectors of the economy, including the pharmaceuticals. The majority of self-insured employers are not planning to make any changes in their pharmacy plans, even with the pandemic. A recent survey has found that 90% of self-insured employers are not considering reviewing their pharmacy plans. This percentage jumps to 100% for companies that have more than 1000 employees. Why is this? This article will look at what self-insured employers and self-insured companies are, how PBMs work, and more. What is Self-Insured Healthcare? Today many companies opt-out of utilizing a traditional insurance plan and instead are

Self-Insured Employers and Pharmacy Benefits2020-10-09T12:18:21-04:00

Price Transparency in Healthcare Costs

You know that healthcare cost transparency is very low when patients are not aware of how they receive costs until they get their final bill. This type of situation is very rampant not only in the United States but across the world. This is why the lack of price transparency is one of the biggest causes of many negative patient experiences. The inadequate proper price disclosure does not only cost patients money. It also puts the quality of service and products that they receive in question. This results in many people asking why healthcare costs are being out of line

Price Transparency in Healthcare Costs2020-10-05T14:41:51-04:00

What Your Employee Benefit Plan Should Cost

What Should Your Employee Benefit Plan Cost? It can be expensive to ensure that you attract the best employees, but you need talented employees for a successful company. It is estimated that it costs $15,500 for health benefits per employee. This may affect your bottom line. Health benefit costs are rising much faster than wages. How can employers ensure benefits for employees while still keeping costs down?  There isn’t a singular answer to this question. Many companies and organizations are exploring different options and strategies to keep employee benefit plan costs down. You might consider meeting with a cost cutting

What Your Employee Benefit Plan Should Cost2020-09-02T16:10:45-04:00

Benefits of A Proactive Health Management Plan for Both Employers and Employees

Benefits of A Proactive Health Management Plan for Both Employers and Employees What is a Proactive Health Management Plan (or PHMP for short)? Our health should be our number one priority; this is especially true if we’re working to support ourselves and our families. During our hectic lives, falling ill without a backup plan can devastate our bank accounts with countless medical costs and fees. This is where the design of health insurances and packages come in.  There are many health insurance and health packages out there for employers to use. In this article, we will cover the PHMP: What

Benefits of A Proactive Health Management Plan for Both Employers and Employees

Cost Reduction: Significance and Ways to Achieve It

In business, entrepreneurs must strive to increase revenue. A company does not only prosper when it earns a significant profit. A business grows when it successfully achieves cost reduction plans. Lowering business costs can prove to be an essential factor in expanding your margin. Using cost reduction solutions brings many benefits to the business. This will have a significant impact on the company. To better understand the significance of cost reduction, below are a few of its key benefits. Increase in Revenue As earlier mentioned, reducing costs brings about an increase in revenue. By reducing expenses, you can increase the

Cost Reduction: Significance and Ways to Achieve It2020-08-14T12:35:36-04:00

Cost Reduction: A Tough Job For CEOs and CFOs

Business costs are one of the many aspects that need to be controlled within a company. It is not enough that your business continuously engages in investment activities. It does not guarantee you success. There is still a need to go through budgeting, planning, and accounting for the business' finances. As such, making cost decisions is essential for CEOs and CFOs. It also holds a vital significance in the industry. Cost Planning: A Challenge for Executives Often, senior management executives are responsible for the cost planning and decision-making process. In managing the business and its finances, the executives of these

Cost Reduction: A Tough Job For CEOs and CFOs2020-08-14T12:25:55-04:00

8 Expenses You Can Stop Paying Today

New technologies can save you money in ways you may not have thought possible. Here are eight items that you can easily toss out the window to cut costs without compromising on quality.

8 Expenses You Can Stop Paying Today2020-08-13T18:58:51-04:00

Business Expenses You Should Cut Down on During A Pandemic

Video call. Online zoom conference. Business team gathered for an online meeting in zoom app. On a computer monitor a group of people online The COVID-19 pandemic has taken an enormous toll not only on our relationships but also on our livelihoods and businesses. Owners of companies who are struggling to stay afloat need to look for ways to continue operations. Measures include cutting down on some costs to increase the business's profit margin. Listed below are a few expenses that we suggest you should reduce during the pandemic. Non-essential Services and Subscriptions Now is the best time for business

Business Expenses You Should Cut Down on During A Pandemic2020-08-13T19:13:18-04:00
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