Today’s health and benefits environment has brought rising healthcare costs and fewer health plan vendor choices. With the addition of increased regulatory constraints, performance audits should be a fundamental element in your cost control toolbox.
Every health plan sponsor faces issues of compliance, fiduciary responsibility and, of course, annual budgetary requirements. When administrative issues cause claims and compliance penalties to balloon unnecessarily, the cost can be astronomical.
A health plan audit can tell you where your benefits and administration are on target and where they’re off the mark. At an average cost of less than 0.1% of most companies’ overall benefit spend – far less than the expense of high-cost claims – an audit can clarify:
Average return on investment among Mercer Performance Audit clients*
How is your claims administrator performing? What areas are creating a problem, and what solutions are possible? To answer these questions, we offer a full array of health plan performance audits, including:
It’s vital to identify and address vulnerabilities in your plan performance and administration. Our experts can help:
All of our performance audit staff members are specialists with at least 10 years’ experience in the insurance carrier and administrator world. Performance assessment is their exclusive focus.
We conduct more of the most-requested types of performance audits than any other firm. Our objective, unbiased review helps companies leverage their health and wellness benefits offerings and provide greater value to beneficiaries.
With depth of experience, our team can draw insights and make recommendations that enable discussion about plan administrator performance and needed solutions. We’ll also calculate projected savings based on immediate and future improvements to procedures and controls.
*Results may vary
Find out how Mercer’s performance audit solutions can keep your employee health and benefits program moving forward.