RISK MITIGATION

We believe our clients’ financial security and business continuity deserve the utmost dedication, advice, and personal attention from a reliable partner.  As your trusted advisor, we will protect you from the unexpected and plan for the unpredictable.

REVIEW OF COSTS AND UTILIZATION

Taking a deep dive into utilization by setting, diagnosis, and procedure to determine trends.

NETWORK ANALYSIS

Used to ensure maximum discounts and broad access.

PERSCRIPTION ANALYSIS

Making sure the right pharmacy benefit manager is chose to drive the lowest net cost pharmacy claims

PLAN BENCHMARKING AND MODELING

Understanding the financial impact of any plan changes being considered.

BUDGETING AND FORCASTING

Making sure the right pharmacy benefit manager is chose to drive the lowest net cost pharmacy claims

We use a variety of tools to expose any potential risks

  • Budget Monitoring – monthly review of the plan to evaluate how it is running against budget leaving no surprises.
  • Claim Forecasting – utilized to know exactly where the plan costs are trending to allow for proactive plan management.
  • Contribution Modeling – to ensure the appropriate cost sharing between you and your employees.
  • Forensic Contract Audit – evaluate the inclusion of any value-based benefit plan designs in the administrator contract and either maximize their potential or remove them from the contract.
  • IBNR Calculator – utilized to correctly attribute liability on financial reports.
  • Informational & COBRA Rate Development – to have legally defensible rates in place to satisfy COBRA requirements and ease internal cost allocations.
  • Network Analysis – allows us to monitor changes in the provider reimbursement contracts with the various available administrators; ensuring the right logo is on your card to benefit both the plan and its employees.  Seeks to maximize carrier discount arrangements.
  • Plan Design Modeling – to completely understand the financial impact of any plan changes you are considering
  • Workforce Evaluation – to understand your workforce needs based on their tenure, income, gender, and generation.

CLIENT'S TALK

WE'RE HERE FOR YOU

We’d love to hear from you. If you need assistance, have questions about our group of Shepherd partner companies or are simply looking for more information, we’re eager to help.

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FIND US

Headquartered in Carmel, Indiana, with offices throughout the country, we are here to assist you with all of your insurance, benefits and financial needs.
111 Congressional Blvd Suite 100
Carmel, IN
46032-5638
1.800.846.0204

Creating Relationships. Finding Solutions. Protecting You.