What We Do
Health Compass improves the financial and physical health of successful businesses by cutting bad actors out of healthcare supply-chains so they can attract and retain the talent needed to achieve their goals.
We’re a full-service independent employee benefits brokerage and employee benefits consulting firm that saves companies $1,000 - $5,000 dollars per employee per year --- while improving benefits and healthcare access.
We achieve these results by building, optimizing, and managing high-performance health plans for our clients.
4 Steps to Achieving Better Benefits at a Lower Cost:
- 1Discovery Call: Schedule a free discovery call to clarify your goals and challenges.
- 2Cost Modeling: Bring in additional stakeholders for an educational whiteboard session that illustrates your future costs and opportunities.
- 3Risk-Free Proof of Concept: Using our portfolio of risk management solutions, we'll build your organization 3 high-performance health plans that sustainably cost less and provide better benefits and network access than what you're currently using --- without you having to replace your broker.
- 4Implementation: Have Health Compass do all the heavy lifting to implement and actively manage your health plans and other benefits (OR) buy the high-performance health plans we built, and have your broker implement and manage them.
Three Ways to Engage:
To help accommodate the needs of mid-size and large organizations, we offer three different ways to engage:
Performance Based Consulting
For self-insured groups, our risk-free “bolt-on” solutions achieve savings within the first 30 days and can be implemented at any time — without fees or replacing vendors.
Fee Based Consulting
For fully-insured groups, we build high-performance health plans that consistently reduce costs and improve benefits — without having to replace brokers. We guarantee our client’s savings out-perform our fee 3:1.
For groups with under 5,000 subscribers, our full-service solution manages and optimizes all aspects of your health plan and benefits. We are one of the few independent firms that guarantees results and puts compensation at risk.
Benefits Management Process
Although we have our recommended process, we understand that every Client is unique, and we often need to mold our process to fit the needs of an organization.
In a perfect world, here’s what we recommend:
Step 1: Identify the Purpose of Your Program
With unemployment at record lows, the race for talent is on. Although many Employers use benefits to attract and retain top-talent, it’s good to clarify and reaffirm program goals with stakeholders.
Step 2: Survey Your Population
With so many benefits and shiny objects in the market, selecting which benefits to offer can be dizzying. Although Employees overwhelmingly value strong health plans above other benefits, we see value in getting your employees feedback and buy-in.
Step 3: Identify a Goal
Once a goal is identified, then everything we do must move us closer to achieving it. For example, if your company wants to reduce their healthcare spend 10% without watering down coverage next year, we need to develop a road-map to get there. If you want to reduce spend by 20%, we’ll need a different map.
Step 4: Develop a Multi-Year Solution
Companies that want to reduce spend and improve benefits need to think beyond their next renewal date. Since every client has their own tolerance to change, we give clients the ability to decide if they want to “crawl, walk, or run”. We show them the pro’s and con’s of moving fast or slow and let them decide their preferred course of action. Groups with a high tolerance to change often choose to aggressively change their program in order to achieve maximum savings in year one. Others prefer a more gradual approach that is less disruptive to their population. The choice is completely yours.
Step 5: Implementation
Once a direction is chosen by clients, it’s important for us to educate employees on how to use the new plan. We do this by meeting with employees in groups or individual settings to explain how the benefits work and give employees the opportunity to ask sensitive questions in a HIPAA compliant environment. This level of consultation takes time, but significantly improves employee satisfaction and plan performance. We also create benefit guides and other instructional materials to educate employees.
Step 6: Benefits Management
After your company has migrated to the new plan, it’s time for us to manage it. Key components include helping employees and company administrators with service issues, managing vendors to ensure they are performing well and fulfilling contractual obligations, identify opportunities to improve plan performance, monitoring claims, auditing vendors and eligibility.
Step 7: Review and Innovate
In the third quarter of each plan year, it is especially important to review plan performance, prepare for the next phase in our multi-year strategy, and innovate as needed. From here, the cycle loops back step 5.
Reduced our healthcare costs while IMPROVING benefits
Health Compass showed us how to do something I didn’t think was possible — drastically reduce our healthcare costs while IMPROVING benefits for our employees.