A: It is the process of doing a forensic analysis of health care benefits data to see where there are "leaky faucets". Once those faucets are identified, we prioritize the issues with our client and fix those deemed critical. This fix is both immediate (i.e., fix the issue at hand) and long-term (i.e., fix the process so that issue doesn't happen again). Once the critical issues are back on track, we hit the next set of priorities with our clients.
A: Optimatum guarantees savings - 10% to 12% this year and 5% to 7% annually thereafter. The savings are identified within 60 days after data is gathered and captured beginning in 2 to 3 quarters. If direct savings 2x our forensic fees are not identified, fees paid to date are refunded. Healthcare planning and oversight have become incredibly complicated, time consuming and data intensive, particularly for those already stretched. Optimatum helps clients do a "spring cleaning" on their health care benefit expenses with a fresh pair of expert eyes.
A: Our client's vendor relationships are long-standing and typically working smoothly. Optimatum's solution focuses on improving the relationship between the plan and the vendors. All existing vendors remain in place, including trusted advisors. We have worked with all the vendors. In addition, as part of our process, we set protocols with the client in the first stage of our work. These protocols formalize how we communicate with vendors.
A: The time investment for our clients is concise and non-disruptive. We keep it to 7 to 9 hours for the initial stage of the process, which happens in the first 60 days of our work after receipt of data. Most of this work is collecting documents, setting protocols and communicating about client expectations.