BCG has earned the reputation of being self-funded experts. Our professionals have over 30 years of experience in designing, implementing, and managing customized benefit and insurance plans for employers. Self-funding presents many complexities which require the counsel of true experts to ensure corporate goals are achieved. It is important to realize that no matter what funding method you select, there is always a way to decrease spend and increase value. BCG can provide guidance in the following fund-amental areas.
Just for Fund
Having a remarkable understanding of stop loss products and their contracts allows us to help our clients protect plans from catastrophic circumstances. One must go beyond looking at stop loss on a spread sheet and understand the nuances of the product and the stop loss carrier’s contract.
What the Fund?
Pharmacy costs are the fastest growing component of a group’s medical spend. The Pharmacy Benefit Managers (PBMs) are hired to manage your pharmacy spend. Unfortunately, most PBM contracts contain language that is used to generate more revenue for them. Additionally, formularies are not designed to result in the lowest net cost to the plan, but to generate more revenue for the PBM. What the fund?
Some third-party administrators include hidden fees in the contract language and lack the transparency we require of our carrier partners. BCG has developed specialized programs for our clients by negotiating contracts directly with PBMs and TPAs that result in them working only on your behalf.
Spread the Fund
BCG has started partnering with international prescription service providers to help reduce costs for both individual subscribers and group plans. These programs allow you to sponsor individual importation of certain high cost brand and specialty medications from other Tier 1 countries.
It’s not all Fund and Games
Through “Statistical Analysis” we help our clients harness the vast amounts of data at their disposal to unlock the insights necessary to deliver better care at a lower cost. The integration of information is a critical first step in understanding what is driving cost. Integrating demographics, claims, pharmacy, and wellness has allowed our clients to make informed decisions that impact both their overall cost and how their people interact with their plan.
Contact us today and let the fund begin!!