Cost Management - Alltrust Insurance | Employee Benefits Firm

Reduce Financial Risk through Cost Management

Strategies for Risk Mitigation and Controlling Costs

Everybody knows that it is impossible to eliminate risk entirely. We can, however, agree that some risk can be mitigated with thorough research, analysis, and data-driven strategies. Financial risks are continually evolving, so we partner with our clients to provide proven strategies for risk mitigation, risk-management and cost-containment solutions. People-related risks can be just as detrimental to an organization as financial risks; therefore we offer HR consulting to elevate your human resources department to the next level.

Alltrust reduces risk through:

Claims Analysis: in-depth review of claims on employer funded (self-funded and fully insured) medical plans for payment accuracy, pricing, and discounts; high cost claimant review and predictive analytics through our NavigatorMD system.
Financial Analysis and Modeling: provide risk analysis with retrospective, prospective, and actuarial risk scoring to give maximum insight in to plan performance to help clients budget for their potential exposures and future costs.
Cost Management and Control: which includes consulting services on cost containment programs like prescription drug carve-outs, direct contracting, reference-based pricing, dialysis re-pricing, and stop-loss captives.
Underwriting Strategies: insights into plan pricing, premium analysis, and contribution level benchmarking to provide effective consulting on employee benefits for recruitment, retention, and employee satisfaction.
Renewal Negotiation: help clients understand their renewals, compare against market offerings, and leverage Alltrust relationships to benefit employer groups.

Alltrust provides access to industry-leading benchmarking, claims analytics, and predictive modeling through several strategic partnerships like CodeSixFour and NavigatorMD. We utilize tools which offer benchmarking for Life, Disability, Absence Management and Stop-Loss or Reinsurance. Alltrust also creates benchmarking reports that cover plan design, overall value of benefits provided, and contribution strategy. Additionally, Alltrust works with clients to select and implement third-party FMLA administrators and are involved in the vendor selection process, implementation, and ongoing service as needed.

With healthcare costs on the rise, Alltrust can help you control the costs now and in the future with unique strategies. Alltrust’s risk management solutions, strategic partnerships and years of expertise help you mitigate your risk level and understand your financials so that you can better manage the costs involved in your business and benefit programs.

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