BenefitsWatch – A continuous monitoring solution for controlling health plan expense

Our unique BenefitsWatch service brings internal audit departments and financial management together with a continuous monitoring solution aimed at minimizing wasted health plan claims expense.

BenefitsWatch collects, organizes, analyzes and monetizes mountains of health plan data, turning it into actionable information like never before…faster than ever before. The service is consistent with the leading-edge transition to continuous auditing and continuous monitoring by management.

BenefitsWatch…

• Enables continuous monitoring of administrator and PBM contractual compliance.
• Delivers quarterly reports, enabling you to realize plan savings on a rolling, quarter-to-quarter basis.
• Compares administrator and PBM performance to HDM’s industry-celebrated benchmarks.
• Links Medical and Rx claims to waste and fraud like never before.
• Requires no additional IT investment, hardware or training and no payroll additions. BenefitsWatch is not expensive software that you have to integrate into your IT infrastructure.
• Allows drill downs to identify plan member and provider problems and so much more.
• Generates a true 4-to1 ROI. For every 25 cents an employer invests in BenefitsWatch, the service will return $1.00 or more.

Based on a monthly data feed from you administrator and PBM, HDM does all of the analysis and issues quarterly reports. We even do the drill downs for you.

BenefitsWatch should begin with a retrospective, baseline claims audit, which, of course, would utilize our unique five-step protocol that analyzes 100-percent of claims for the audit period. Our 100-percent-of-claims methodology has been proven in an independent study to be far superior to the random-sample method of auditing health plan claims. To find out more, click here to download the study.

Think about it. With BenefitsWatch, you will now be able to monitor each and every health plan claim essentially as it is incurred for…

• All administrative charges, including co-ordination of benefits, cost containment and subrogation…
• Verification of every SPD-covered benefit, including co-pay, deductible and co-insurance…
• Verification of each claim for coding practices including unbundling, up-coding and duplicate charges…
• And much more.

If you can’t measure it, you can’t manage it, and BenefitsWatch enables all those who are responsible for employee health plans and governance to “measure it” better than ever before – at a time, when continuous monitoring and corporate oversight have never been more important.

To the best of our knowledge, no service quite like BenefitsWatch is available from any other independent auditing and analytics company in America.

To discuss how HDM’s cost containment solutions for self-insured employers can benefit your organization, contact HDM today at 800.859.5119 ext. 1 or e-mail your inquiry to: info@HDMinc.com.