According to this month’s Employee Benefit Adviser article, The Secret to Differentiation and Building Competitive Advantage, providing “great service” to your clients is not enough. It only gets you in the game.
“No, you have to be more creative than that. What will make you invaluable to your clients? What will cause third-party centers of influence to recommend your services? Why will new relationships seek you out to become their benefits adviser? Be assured, it is not because you are the access point to products and services and you claim that you deliver great service. It’s got to be more compelling than that. You need to have unique processes that other brokers are not utilizing. You need to provide unique consulting services. You need to elevate your positioning to that of a trusted adviser,” wrote Jack Kwicien, Employee Benefit Adviser columnist.
In our work with brokers, we have seen time and again that those who are leading the pack are the trusted advisers finding cost-containment measures for their clients. No matter how much self-insured employers trust their TPAs, there are errors in every plan when claims are processed. Errors can range, on average, from 1 to 3 percent of total medical spend, a cost that self-insured employers must cover out of their own pockets, potentially translating into hundreds of thousands of dollars lost each year. And relying on internal audits that may or may not be performed by the TPA, which usually involve looking at only big claims or a random sample of claims, is a little like letting your realtor do your home inspection.
Consider the value of the brokers who, as trusted advisers, can direct their clients to a 100% Difference comprehensive audit that will return thousands – or hundreds of thousands – of dollars to the company’s bottom line. That is differentiation, and it’s not something that most of your competitors are offering.
Healthcare Horizons reviews 100% of claims paid. That is our 100% Difference, and we can act as the broker’s trusted adviser to be sure the client’s interests are being protected and cost-containment needs are being met.
Every Claim. Every Possible Dollar.
To learn more about our approach to healthcare claims auditing, visit Healthcare Horizons or contact us at hhadmin@healthcarehorizons.com to discuss a free healthcare claims audit assessment.
Randy King is president of Healthcare Horizons Consulting Group, Inc., which has performed healthcare claims audits since 1999. Trusted partner. Uncompromising accuracy. Superior personal service. Recovering millions of dollars for some of the world’s largest employers.