June 6, 2014

Report Benefits You Need to Know About

Finding a plan that benefits as many people as possible in the most cost efficient way is what we are all searching for. Employers are asking for new ways to help them save on high insurance costs and you are under pressure to find what they are looking for. It all starts with useful resources, and a system of reports that allow you to assess your customer’s situation and make the best decision for them. Having the reports that allow you to make the best decisions for employers is crucial to managing an effective healthcare plan. Here are the benefits that your customers will receive from a well-organized report system:

  • Customized Reports allow brokers and their customers to receive the information that is needed most. Your reports should be flexible to growing and changing needs. As about personalized queries which should be setup in order for you to access ad-hoc reports with the click of a mouse.
  • Full Access for brokers and customers ensures transparency in their benefit plan. Being able to view the complete picture of your benefit plan is a must to properly manage future costs and needs.
  • Up-To-Date information should be as current as the prior day’s close of business so that clients can stay current on their benefit activity. A quality reporting system should allow you to receive information in real time.
  • Claims Replay Software analyzes claims to determine the best benefit design to reduce costs and increase benefits. Having a reporting system that allows you to analyze your benefit plan throughout the year will help you predict future claim costs and better manage your benefit options.
  • Face-to-Face Benefit Plan Reviews with a semi-annual or quarterly on-site reviews walk through provides easy to understand reporting that drills down to every detail – such as cost per work hour, benchmarking, and benefit utilization.
  • No Hidden Fees on any custom reporting. These reports should be used with the intent to inform and serve. A quality reporting system should work as a support to your investment rather than functioning as a cost center.

Through these means you can feel confident in consulting with your customers on their benefit plan strengths and weaknesses and guide them with future plan recommendations through predictive modeling.