THE Escale Health know that reduce costs for a company it is essential for her to keep her expenses always lower than her profits. Therefore, any and all areas where this reduction can be implemented is a great improvement for every company.
To begin with, the provision of health insurance by the employer It's not mandatory, unless it has been determined in a collective bargaining agreement. However, once it is offered, it becomes mandatory, as it becomes an acquired right.
So, if your company provides health insurance for its employees, what about understanding in practice with the Escale Health Blog how does the process to reduce costs and improve numbers at the end of the month for your business?
To efficiently explain our process, it is worth presenting the case of a company that we managed to reduce more than £ 1 million in annual spendingl with health plans.
In this case, we went even further. More than new studies, we understand in depth what our client needed to make possible his desire to guarantee the best benefits policy for his employees.
1. Reduce costs without losing quality
Reducing costs in any department can lead to a loss of quality of service. This is a belief that permeates several fields of a company, and the HR area, responsible for benefits, is no different. However, with the help of those who understand the subject, it does not correspond to this belief.
2. Reduce costs in practice
We performed a very effective work with one of our clients, a medium-sized company with approximately 800 lives included in the health plan.
Due to its large number of employees, the amount spent on the benefit was high, especially when the plan was readjusted.
In addition to our goal to reduce costs by keeping the product similarwe also had the challenge of including a dependent in the plan at no cost to the employee. Since the company previously did not offer this service, it becomes a differential for retaining talented and high-level professionals.
3. Reduce costs in numbers
The company's monthly invoice was £ 445,008.00, with no dependent included. With our consultancy, we reached £ 343,667.00, with one dependent included and at no cost to the beneficiary. We then reduced by 22.77% the amount of the invoice, reaching a annual reduction of £ 1,214,000.00.
So, we prove that it is possible to reduce costs by maintaining the equivalent product and sometimes, even improving the benefit for the employee.
This company even Escale Health through the biggest HR innovation events in Latin America, the HR4 Results, where we exposed our brand and work methodology.
With the confidence that was given to us and the commitment of our client to transmit all the information correctly, we started a study that brought the best solutions for the company's needs. After hard work and dedication, we were able to present satisfactory results and achieve a great case of success.
This challenge shows us that there is always more to do. We must not get used to “We have nothing to do with this contract!”. You can believe that there is always time to review the way the market is positioning itself. And we are aware of this because we know that we can always do our best!
The content was produced by Escale Health, a startup that provides consulting services to large companies, offering a better experience in corporate health plans. To know more, access their page here.