Managing Health Care Costs with Accountability

“Regardless of where employers are in their annual benefits cycle, the opportunity to save in excess of $1,000 per employee per year persists,” says David Neikrug Chief Executive Officer of Optimatum Solutions LLC. “Plugging the leakage can start today since it does not impact plan design or employees. This white paper details key areas which executives should focus on.”

Despite the fact that revenue growth has been slowing down for many companies in this economic downturn, costs of health care continue to accelerate and are expected to climb up by another 9% in 2010. While the average healthcare expenditure of OECD countries, most of which have socialized healthcare, is at 9% of its GDP, the United States has been ranked highest in healthcare expenditure, spending 16% of the nation’s GDP. A study by Duke University further ranks healthcare costs as one of the top concerns among US executives.

Optimatum Group LLC is a vendor management firm that focuses exclusively on the HR supply chain. Our turnkey solutions improve financial and operational plan performance through our multidisciplinary approach, including forensic analysis and maintaining existing vendor relationships, while increasing transparency and accountability.

Through our Employer-sponsored Health Care Group, clients reap direct efficiencies of 10-12% of their health care costs within one year, and 5-7% in subsequent years.For organizations with an edict of expense management, coupled with a culture of strong vendor management, Optimatum drives solutions at a time when wastefulness is a luxury we can all no longer afford.