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Talent and Technology Combine to Reduce Claim Costs

02/22/19

  11:58:00 am, by MedBen5   , 197 words,  
Categories: Announcements, Cost savings, Third party administration, Claims management

Talent and Technology Combine to Reduce Claim Costs

magnified dollar

MedBen takes pride in its expert claim examiners – indeed, in our most recent audit our team received a payment accuracy rating of 99.9%. But when we receive a claim that merits further inspection, our advanced surveillance system lends a hand.

Electronic surveillance uses thousands of physician-developed algorithms that can detect claims in need of additional scrutiny. If the system flags a claim, board-certified medical specialists review it (with the client's approval) to find possible resolutions.

In 2018, MedBen surveillance measures saved clients, on average, an additional 48% per selected claim... savings produced after any applicable discounts are applied, but before claims are paid.

From a direct cost perspective, advanced claims analysis saved clients an average of $9.82 per employee per month (PEPM) in 2018. This continues a five-year trend in which surveillance realized average client savings of $9.53 PEPM from 2014 to 2018.

Again, these cost reductions come on top of savings derived from discounts as well as plan provisions and medical management. Taken together, these cost controls and other claim management strategies help MedBen clients remain under national plan spending trends.

Learn more about claims surveillance and other MedBen saving solutions by contacting Vice President of Sales & Marketing Brian Fargus at 888-627-8683 or bfargus@medben.com.

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