Top 7 Money Errors Made By Plan Sponsors – How to Improve Payment Accuracy and Reduce Cost Trends

The United States wastes $275 billion annually on healthcare spending through administrative inefficiencies, fraud, and abuse – that’s nearly $9,000 per second. Yet group health benefits remain one of the least monitored corporate expenses. Most organizations rely on third-party administrators to manage the healthcare claims payment process, and claims auditing is often low on their long list of competing priorities.

To help employers maximize the financial performance of their healthcare benefit, Truven Health Analytics has identified seven critical money errors made by plan sponsors. Eliminating these errors will lead to increased compliance, more informed decision making, and a healthier bottom line as you eliminate claims payment errors and mitigate cost trends.

This presentation will address the following:
• How to improve recoveries by making adjustments to standard contract language.
• The drivers for using 100-percent-of-claims vs. stratified random sample audit approach.
• Making continuous monitoring a best practice.
• Raising the performance bar for claims administrators.
• What to do if you plan to or have recently changed administrators or plan designs.

Join us for this timely and informative session to hear Marie Bowker, Senior Director of Audit and Compliance at Truven Health, as she reviews some of the top business challenges facing plan sponsors and offers solutions to help you ensure the payment accuracy of your healthcare administrators.

About Truven Health Analytics
Truven Health Analytics, formerly the Healthcare Business of Thomson Reuters, delivers unbiased information, analytic tools, benchmarks, and services to the healthcare industry. Hospitals, government agencies, employers, health plans, clinicians, pharmaceutical, and medical device companies have relied on us for more than 30 years. We combine our deep clinical, financial, and healthcare management expertise with innovative technology platforms and information assets to make healthcare better by collaborating with our customers to uncover and realize opportunities for improving quality, efficiency, and outcomes. With more than 2,000 employees globally, we have major offices in Ann Arbor, Mich.; Chicago; and Denver.

• HR Professionals
• Benefits Director
• Vendor Manager
• Finance/Accounting
• Internal Audit

1. How to improve opportunities for recoveries by revising standard contract language.
2. The right time to use 100-percent-of-claims vs. stratified random sample audits.
3. Making continuous monitoring a best practice.
4. Raising the performance bar for claims administrators.
5. What to do if you plan to or have recently changed administrators or plan designs.

White Paper: Where Can $700 Billion in Waste Be Cut Annually from the U.S. Healthcare System?

		Marie Bowker Truven Health Analytics View Profile