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New Hope Center
Challenge
This organization wanted to see just what kind of unique cost reduction opportunities might exist in their risk management program. They had been facing a difficult state budget, but were still
hoping to expand services to those who needed them. They had been with the same broker for quite some time. While they believed their
program was solid, they remained open to new ideas for reducing cost and protecting revenues. They were simply unwilling to jeopardize the
service or the protection they required.
Action
The Alper Auditor discovered factor calculation
errors which directly impacted how their
premiums were determined. Through an
in-depth analysis of their Claim Management program
and history, Alper’s Occupational Health Nurse
implemented a program to reduce claims by 30%. These required immediate attention because
contracts are vital to their service operations.
The Alper Risk Managers identified 5 major areas where they were either underinsured or uninsured due to restrictive language.
Results
Alper recovered past errors resulting in a 10%
overcharge. Alper corrected the errors and reduced current and future costs by 13%. Specialized
claim management programs will ultimately result in a 30% reduction in claim size, equalling 12%
in premium savings. The contractual transfer
language and coverage changes will help insulate both the revenues and the reputation of the
organization at no additional cost. |
