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Company Saves 32% Of Their Annual Budget With HealthMetrics

Posted by Customer Success Team on July 30, 2018
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Background

The subject of this case study is a global leader in Revenue Lifecycle Solution provider with multiple support centres that serve leading global brands across the globe. 

Situation

The company prides itself for providing top-class employee benefits that ensures that employees and their dependents are well taken care of even when they're not feeling their best. Prior to HealthMetrics, they had previously used insurance to manage both inpatient and outpatient medical treatments with all other employee benefits being managed manually via an Excel tracker.
 
As it was a mixture between insurance and manual tracking, this posed several challenges in terms of providing a wide range of employee benefits, communication of benefit plans to employees and controlling employee outpatient expenditure due to lack of monitoring of medical claims, which led to unpredictability in terms of their annual budgeting. 
They relied solely on the yearly consolidated reports which were provided by their previous service provider, which almost always resorted to an increase in costs.
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Solution

In order to facilitate the needs of all 1500 employees and dependents' benefits, the company subscribed to HealthMetrics Basic Plus plan to facilitate in the management of outpatient medical and all other employees benefits. With this plan, the company was able to implement a one-stop solution that allowed both employees and dependents to have full access to their current benefits and the balance in each one of them. Not only that, with the web portal, it also allowed the HR administration team to monitor each employees’ outpatient medical usage and set up cost control measures through the HealthMetrics system.
 
Result
 
As of writing of this article at the 9th month of implementation, the company has resulted in huge costs savings of over RM 300,000, which amounts to 32% of their expected outpatient medical budget.
 
 

>RM 300,000

32%

>10 Types

of Annual Cost Savings

of Budget Saved

of Benefits Monitored

 
 
With the additional RM300,000 savings, the company allocated the budget for the subsequent financial year to extend the range of benefits ("The Flexi Plan") for their employees and dependents with other benefits in consideration.
 
Benefits Offered to Employees 
Prior to HealthMetrics After Implementation of HealthMetrics
Cashless General Practitioner Treatments Cashless General Practitioner Treatments
Outpatient Specialist Treatments Outpatient Specialist Treatments
Hospitalisation Hospitalisation
  Cashless Dental Treatments
  Cashless Optical Services
  Movie Tickets During Birthday Month
  Gym Membership
  Annual Health Screenings
  Meals during Birthday Month
  Maternity Benefits

In order to achieve the goal of the corporate, the HealthMetrics Customer Success Team continuously work closely with the HR team to review progress & reports, making tactical recommendations regarding employees’ health well-being. The team proactively engages with the company through consulting meetings to update them with latest HealthMetrics features & employee benefit best practices.  We believe in empowering our clients to obtain the most value from HealthMetrics' system, as we truly value organisations that facilitate working practices and services that support employee well-being. 

 

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Topics: Customer Success, Case Study, Employee Benefits