Page 34 - Bird RFP Response_Burnham Benefits
P. 34
Burnham Benefits Response to Bird
Request for Proposal for Benefits Broker
Services
5. How will you demonstrate the savings?
How actual savings are demonstrated depends on the changes made. In general, we compare
what costs would have been without the solution in place (projected status quo costs from our
initial analysis) and compare it with actual costs. We also account for changes in the underlying
population and risk profile and, if needed, make adjustments so we compare apples to apples.
At Burnham we believe in simplifying the complexity, by that our demonstration of savings is
geared towards visual analytics to show performance metrics. Our strategy approach is largely
data centric - we first analyze your populations health and claims trends and patterns, we then
outline the risk factors and build solutions aimed to mitigate the risk (we call it cost
avoidance). For example: We may find large claims over $50,000 a challenge which is skewing
your claims performance above normative ranges and/or best practices. Upon identification, we
would deploy a structure to manage the risk to better outcomes and plan claims performance.
Most recently we worked with a client who had a higher prevalence 4+ chronic conditions across
their population, higher than what CDC or national quality metrics would reflect. The higher
number of chronic conditions were adding 11% more claims annually. We implemented a
chronic condition management program tailored to their company to improve health
compliance and lower the claims cost by 9.2% in less than 15 months.
After we meet with our customers to design their benefits program tailored to their company
needs, we design a dashboard to track plan performance and savings. The dashboard would
track both aggregate claims performance along with population health measures to ensure we
are meeting both financial and clinical savings. The dashboards are a critical element to ensure
we are tracking to our targeted benefits objectives.
See Appendix for “Sample Reporting Package”
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