How Companies Hedge Against Inflation
Jim Thompson, CFO
My conversation with Chris was not only enjoyable, but it was the first health insurance conversation I've had in 10 years that didn't leave me feeling depressed.
E.F. Parrish, CEO Corporate Care Inc.
Chris is a skilled professional who has the highest possible integrity, tremendous work ethic, and a passion for excellence in anything he places his hands on. His diverse business experience enables Chris to always come to the table with valuable resources.
The Smaller The Business The More Inflation Hurts
We all understand what inflation is and that it can cripple the Small - Medium Business Market.
The Healthcare Hedge is the fastest and easiest way to counter against inflation.
When was the last time you leaned into something out of the box to control one of your largest liabilities?
There are significant changes in the industry that have companies rethinking this 800 lb gorilla. Lowering the cost of healthcare is no longer a Slash Benefits and Features game.
Price transparency has opened up the doors to teach the consumers the most cost effective places to seek care.
With this data, your health plan can take advantage of the supply and demand game.
Can you see that by knowing how much a procedure cost and the occupancy at the location will give your health plan a stronger negotiating position in real time?
By investing the time in this liability you can essentially recoup $3,000 - $7,000 per employee per year.
DATA
With data you can make educated decision that best suit your current situation. A lack of data will obviously do the reverse.
Ask your current broker this simple question.
Can I get a list of which providers/locations on our plan gets the best discounts and where these providers/locations rank for quality against others?
The answer will tell you if you are in the right type of plan because most of the Boxed Health Plans actually have rules that keep this information from their members. What could they be hiding?
ADVOCACY
Do you or your staff have the time and expertise to navigate the our current healthcare system?
Advocacy can give every single one of your employees a personal guide for every single episode of care.
With all the questions about the cost of healthcare we need someone working on our case that does not work for the carrier or providers.
When was the last time that anyone in the system was navigating you to the lowest cost place with the highest quality?
What about waiving the out of pocket expense because they found the best deal and could afford to eliminate this expense?
SPEED
In the business world, speed wins.
In healthcare the same is true because they are working to make a profit.
Most health care systems spend 30% of every dollar of revenue to get reimbursed from insurance carriers.
This means, when they bill an insurance carrier or patient, they lose 30% of their profit just to get paid.
With a simple setup in your health plan, the providers and facilities can eliminate this overhead. In turn, they will reduce the cost of the claim by this 30%
Reducing what you pay in claims is the only way to reduce the cost of healthcare.
Chris Hopfer
I launched Cimarron Consulting after spending a decade as a financial advisor.
The "Normal" way of buying healthcare did not make financial sense to me and after wading through the waters, I realized that it did not make sense to business owners either.
I, like most advisors, followed the status quo of healthcare. Eventually, I got tired of handing a rate increase, year after year to my clients and what do you know, they really did not like receiving them.
Over the next few years I learned everything I could about the actual healthcare systems.
Between my financial background and now my industry knowledge, my clients get to enjoy actual cost containment while providing superior healthcare to their employees.
GET RESULTS
EXPERIENCE GROWTH
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