Stop Your Healthcare Cost Leakage

Your organization is likely hemorrhaging a tremendous amount of capital inside of your healthcare costs. Most organizations have financial leakage that adds an additional 40% to their health insurance expenses.* This leakage has always been there. Until now, it hasn’t been quantifiable.

Why should tackling your leakage be a priority? Well, for instance, if your healthcare insurance spend is $1,000,000, you probably have $400,000 of additional costs that are going unaddressed. (You can adjust this estimate by adding 40% of financial leakage to your organization's actual spend.)

Stop Your Healthcare Cost Leakage

So, where is this money going? And how is it leaking from your financial statement?

Leakage takes the form of direct and indirect loss costs on top of your insurance premiums. These costs are ignored by traditional insurance brokers as they are unable to accurately identify them. Here are some brief examples of direct and indirect loss costs in your healthcare program:

  • Direct Loss Costs – The additional uninsured hard costs that occur each time you have a claim. They include things like sick leave, salary continuation and Family Medical Leave Act expenses.
  • Indirect Loss Costs – The “soft” but real costs that impact your organization with each and every claim. They include training, temporary workers, brand loss, and absenteeism.

As Analytic Brokers™ we’re uniquely qualified to assess your financial leakage so you can gain better insight and decision support. Secondly, we’ll provide you with a plan of action to reduce these expenses and improve your financial performance. Unlike traditional brokers, we’ll review the entire cost structure of your healthcare program (not just premiums) to see where we can make the biggest impact.

Don’t wait and let your capital continue to seep off your bottom line! Contact us today

*Source: TCORCalc® - North America's leading authority on risk management program analytics and insurance industry benchmarks.

Start a Conversation

Did this article strike some interest? If so let's start a conversation by submitting the form below and we can show you how we can deliver results.

Copyright © 2024 CRE Insurance, TCORCalc®, Analytic Broker, and Analytic Brokerage are registered trademarks of C.R. Ekern & Company, Inc.