F I N A N C I A L   D A T A   M A N A G E M E N T

Health Plan information is the most underused financial management tool. There are no real mysteries that can’t be uncovered by a thorough analysis. Benefit plan managers charged with gaining control over increasing costs can’t afford to make plan design and funding decisions without credible, comprehensive and detailed information about the financial performance of the plans.

The HDH Group noticed a need for a financial management tool in health care coverage. We developed a proprietary, copyrighted system that accepts downloads of claim data, census information, utilization information, etc. Since that time, many versions have been created and refined to permit the continued transmission of data from any carrier while complying with regulatory constraints.

Assure Benefit System I (ABS I) charts monthly claims data, claims to premium ratios (fully insured), funding status (self-funded), shock claim activity, administrative fees, reserve calculations, stabilization funds, etc. The monthly reports provided to our clients are, in many instances, viewed as a rolling renewal. Our goal in delivering monthly financial reports is that our clients will never receive a rate action without advanced notice. We would like to say our clients are never surprised but in today’s market, this is a stretch. To further refine this process, HDH prepares a Projected Renewal several months prior to the release of the carrier renewal. By using the same claims the carrier will use and a working knowledge of the underwriting philosophy of the carrier, HDH again eliminates any surprises. Our clients are armed with the knowledge of their claims through ABS I. Inherent in our overall strategy - Knowledge is Power.

Projected Renewals and renewal verifications is a small fraction of how ABS I is utilized. Additional reports include catastrophic claim analysis, stop loss deductible/aggregate review, projected/actual settlements, reserve analysis, etc.

We have learned that you simply cannot do effective health management without data and the power of technology – Assure Benefits I.