Impendi’s Human Resources & Benefits Center of Excellence is prepared to assist your HR function leaders to find, get, and keep hidden value in key areas of human capital expense such as: employee benefits plans, HR information systems, recruiting, and learning and development. Our HR leaders know that cost containment is a goal but are profoundly aware that system disruptions may impact your organization’s efforts to recruit and retain talent.
Revealing opportunities within a competitive environment
Special competencies and sensitivities, therefore, are needed in this complex ecosystem of beneficiaries, payers, providers, and administrators. Often special attention must be given to preserve relationships essential to capturing opportunities and maintaining best-in-class service. Using experiences gained from hundreds of client engagements, our leaders are prepared to use world-class data and best practices to assess the cost of your benefits plans in ways that sustain, even improve the offering to employees.
Years of experience working with organizations like yours, has also taught us that special skills are required to create a competitive environment in health and welfare benefits. Once engaged, we work together with your financial and HR function leaders to surface ideas for a benefits matrix that reduces costs without sacrificing benefits.
Teaming with your leaders to craft a customized solution
Unlike generalist consulting firms or software platforms, we follow an inclusive and transparent five-stage review process that sizes benefits opportunities, communicates a notice of review, evaluates incumbent broker and disruptor presentations, does proposal analysis and broker scoring, and, finally, handles contracting and execution.
This best-practice approach requires advanced analytics to capture granular details of your current solution and size opportunities that might be hidden using more simplistic methods. We lay out an easy-to-follow menu of options for your leadership to pick and choose opportunities they want to pursue as they build up to the savings number.
To ensure a smooth transition, our experienced leaders are always sensitive to where you are in your benefits renewal cycle. We have been in your chair and know that some opportunities can’t be rushed without risk to the implementation plan.
Building competencies to sustain value
With market conditions rapidly changing among payers and providers, healthcare benefits present unique challenges to getting and keeping identified savings opportunities. We won’t leave you with a set of recommendations that have a one-year shelf life.
We’ll examine “how you buy” so you know where your processes are strong and where they could use a tune up. We will leave you with best-practice tools to track variance, perform root cause analysis, and implement remediation plans. So that momentum is maintained, we can assist you to put this new governance into your brokers statement of work, so they track the savings progress, continually scan for new opportunities, and keep your teams informed.