Medical Expense Analysis, Solon, OH

Medical Expense Analysis, Solon, OH.jpg

PBC Global was asked to analyze medical expenses for a self insured Solon, Ohio company who had seen large increases in health coverage expenses year over year. Results would help to establish monthly employee deduction related to medical coverage. 

Financial Analysis Requested By: Chief Financial Officer

Solution:

  • A database was established to store claims processed (received from a third party claims processing company) for each month of the previous year
  • Queries were run against the database to establish a pattern of costs associated with claims in each claim category
  • Claimants were differentiated by a unidentified number (in compliance with HIPAA laws), but also analyzed to show spending patterns

Results/Deliverables:

  • A detailed report noting specific reasons for expense increases and certain one-time expenses was delivered to the CEO and CFO
  • A report showing three different scenarios for new employee health premiums was discussed with the CEO and CFO with an overall recommendation

Location: Solon, OH - 44139

Please contact us today to discuss your Financial Analysis and Reporting: 
Patrick Brogan, President
CPA, CIA, CFE

PBC Global
440.915.1180