2. In today’s challenging environment, employers must be able to actively engage their employees and manage overall health care costs. But effective management is impossible without the right information. By benchmarking your performance to other top companies, you can begin to gather data that will help you better focus and direct your efforts.
3. To succeed, companies must go beyond mere cost containment and implement a broader, more strategic approach to health care. Towers Perrin’s Health Care 360 Performance Study can help.
5. Traditional benchmarks such as total costs by plan, total costs by industry, and employee contribution rates help your company pinpoint where plan design and vendor modifications may be warranted.
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7. Medical cost benchmarks: Industry breakouts Total for All Plan Types Database ABC Manufacturing Database Findings: Your Cost vs. Your Industry Cost Your company has higher costs than your industry. Key Message
8. Medical cost benchmarks: Employee cost sharing Total Program Employee Dependent* *Dependent includes spouse, children, family, etc. Employee Contributions as a Percentage of Total Cost: Database vs. Your Company Employers are reviewing the difference in employer “subsidy” between employee and dependent coverage. Key Message Database ABC
9. Our approach actuarially adjusts your total cost benchmark to account for your company’s unique demographics, family size, geography and plan design richness — resulting in a benchmark that is analytically meaningful and actionable.
10. Medical cost benchmarks: Overall program efficiency Overall program efficiency measures the performance of your total program against the overall database average. Overall efficiency results are a function of both the efficiency of each plan offered and the enrollment in each plan. ABC Adjustment Factors Custom Benchmark Database Actual Age/ Gender Family Size Geography Plan Value Composite Your total program is 7% more efficient than the database. This translates into a current savings of $1.6 million. Key Message
11. By benchmarking nontraditional measures such as population health and disability factors, we help you develop the comprehensive view needed to address a uniquely complex issue.
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14. Towers Perrin’s Health Care 360 Performance Study provides a foundation that allows you to coordinate actions and drive meaningful results. We’ve worked with many companies to deliver quantifiable value in this area. We welcome the opportunity to share our insights and perspectives with your company. Visit www.towersperrin.com for more information.