For an employer, benchmarking is a vital piece for continued growth and success. Employers need to know how they compare to their competitors. Otherwise, failing to do so may result in being left behind.
Benchmarking should not only include sales, marketing, and customer service, but you also need to look at how your medical plan stacks up to the competition.
When we speak to different clients, prospects, and organizations, some have very strong cultures. To continue cultivating this culture, they seek to offer health benefits at a very high level. This results in paying for these benefits at a high level.
In this episode of Side Affects, Scott McGohan and Anne Marie Singleton discuss medical plan benchmarking and the role this data plays in building a company’s benefits program.
Milliman benchmarking data discussed by Anne Marie and Scott (Article)
Reporting provides numbers you need to know; but data analytics reveals what those numbers are telling you. Scott and Anne Marie talk about how interpreting data can provide the answers and the pathway to better health and lower claims.
The way you purchase health care is different from the way you purchase other consumer goods. Scott and Anne Marie share insights on how health care costs can differ from one facility to another in the same region. How you utilize care can greatly impact your costs.