Health Insurance Expense Reduction

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 2020-08-26T12:03:14-04:00

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

What is Spend Analysis?

If you find yourself wondering “where does the money go?,” it’s time to invest in a spend analysis. However, you might not know what a spend analysis is. This article is for you. Learn more.

What is Spend Analysis?2020-08-13T19:11:15-04:00

How to Choose an Expense Reduction Consultant

Hiring an expense consultant can help improve your company’s bottom line, but you likely have questions about the process. Learn about hiring one here.

How to Choose an Expense Reduction Consultant2020-08-13T19:13:19-04:00

What Should Your Employee Benefit Plan Really Cost?

A great health benefits package helps you recruit and retain top notch employees. The better your benefit plan, the better your employee talent pool will be. But benefit plans are expensive. How do you balance the costs and benefits to your company?

What Should Your Employee Benefit Plan Really Cost?2020-09-02T16:13:47-04:00

Productive Expense Reduction Strategies

Our cost reduction strategies go beyond conducting a competitive bidding process and recommending changing vendors. In fact, 82% of our recommended solutions have involved keeping our clients' existing vendors. Learn more about our cost savings methods here.

Productive Expense Reduction Strategies2020-08-13T19:01:19-04:00