Industry:
Healthcare Services
Employees:
5 hospitals, 600 employed physicians, approx. 8,000 benefit-eligible employees
Challenge:
A health system was expecting minimal savings for its group disability and life benefits programs.
Solution:

Benefits and vendor analysis, leads to innovative solution.

We began by conducting a thorough analysis of the client’s benefits needs, and utilized our scale, expertise, and innovative ideas/solutions. At our client’s request, we also participated in discussions with a select group of vendors. During this process, we quickly found that the health system’s needs and expectations, and the vendors’ capabilities, were not a good match. As a result, we conducted a full marketplace RFP to find more suitable vendors.

Outcome:

A vendor match that led to cost savings and a rate extension.

Our client saved approximately 24% and received extensions to the rate guarantee period. They were also able to see significant cost savings by effectively managing income replacement costs for their highest-paid employees. 

  • Through the effective use of the tax code, we significantly improved the income replacement program for highly compensated physicians and executives, and at a net cost savings.
  • Our absence management team identified multiple specialty vendors whose services truly met the employer’s requirements.
  • We did this all in about 60 days, with little or no disruption to the health system and its HR department, we presented our results, which were dramatic.

As one of the largest firms in the industry with corporate offices throughout the US, we’ve partnered and consulted with businesses to consistently deliver measureable results, strategic assessments, and premium customer service and support. We’re proud of our successes and we’re here for you. Join us. You’re in good company.