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