How to Cut 25% of Your Company’s Medical Spend Without Reducing Benefits: A Case Study
March 25 | 10:15 am - 11:15 am
Speakers: Cathy Missildine | CHRO, Southeastrans, Inc.
Pamela Ballard | Benefits Manager, Southeastrans, Inc.
Swede Sullivan | Senior VP, J. Smith Lanier & Co.
Greg Shilling | Partner, 121G LLC
Medical costs are typically the 2nd or 3rd highest expense on a company’s financial statement. Yet, most companies put control of this cost totally in the hands of an insurance carrier who doesn’t necessarily represent the company’s best interests.
In this session you will learn how one company has not only kept their premiums flat for 3 years running, but has also saved over $1.5 million in the process. Now that company is taking some of that money and investing it in their employees with healthier outcomes and it’s working.
This panel of experts will describe the process of identifying the right metrics, and plan design, and share their story of outstanding financial outcomes.
In this session you will:
- Understand the concept of “unbundling” benefit related services
- Discover the opportunities to reduce costs in both the medical and pharmacy sides of the benefit plan
- Learn how to pick the “right” team both internally and externally
- Understand the data points that are critical in analyzing a benefit plan
- Review how to demonstrate the ROI of a well-chosen benefits plan
- Leadership & Navigation
- Business Acumen
- Critical Evaluation