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MedBen Claims Surveillance System Savings Exceed $10 Million

09/11/09

  01:28:22 pm, by MedBen5   , 255 words,  
Categories: Announcements, Discounts, Health Plan Management

MedBen Claims Surveillance System Savings Exceed $10 Million

Woman Reviewing Folder

MedBen has just achieved an impressive benchmark. In its first two years of operation, its advanced claims surveillance system has saved clients 10.4 million dollars – savings over and above plan provisions, network discounts and medical management.

MedBen introduced the proprietary cost containment system in September of 2007, as a member of the AWAC® Alliance, a select network of third party administrators. The system goes beyond normal claims processing programs, in that it thoroughly analyzes a claim using over 80,000 financial and clinical algorithms to determine the potential for large loss, inappropriate billing or fraud, and cost reduction. This service is performed at no additional cost to the client.

When the surveillance system flags a claim, it is evaluated – with the consent of the client – by a medical panel to determine potential cost savings from both a clinical and cost perspective. On average, this physician-driven process saves clients 43% per selected claim.

MedBen President and CEO Doug Freeman said, “We saw the addition of the claims surveillance system as a real opportunity to provide our customers proven and measureable savings on top of our other cost controls. To reach $10 million in savings so quickly is a true testament to its effectiveness.”

Of the cumulative two-year total, $6 million was saved in the last 12 months alone. “Thanks to the work of the panel physicians, we’ve seen claims savings range from 20% to upwards of 80% during this past year,” Freeman added.

If you should have any questions regarding the MedBen claims surveillance system, please contact MedBen Marketing Services at (888) 627-8683 or marketing@medben.com.

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