Financial Management and Claims Analysis

Using historical claims data, ShawHankins provides comprehensive analytical modeling and analysis to regularly monitor plan performance, utilization trends, and core cost drivers. We communicate this information to our clients on a regular basis and us this analysis to develop the most effective benefit strategies.

Claims Analysis and Reporting
Using several different insurance carrier systems, our claims analysis and reporting procedures allow us to monitor plan performance and identify core cost drivers through a series of customizable monthly, quarterly and annual reports. This data is also used for predictive modeling purposes.

Financial Planning and Budgeting
Shawhankins works closely with our clients to derive detailed financial projections in order to set your budget with confidence. The process includes monthly reporting and quarterly renewals so there are no surprises at the end of the year.

Normative Benchmarking Analysis
The ShawHankins benchmarking database generates a detailed comparison of benefit plans by industry, region and size. The customizable data includes prevalence of benefit practices, cost sharing, plan designs, eligibility and costs.

Fully Insured versus Self Funding Analysis
By generating a cash flow analysis over multiple periods with different fully insured and self funded scenarios, our funding analysis model gives clients an understanding of the financial risk of the various options that are available.

IBNR (Incurred But Not Reported) Reserve Analysis
ShawHankins offers IBNR calculations and support in order to assist our self-funded clients in estimating the existing financial liability with a high degree of confidence.

Employer Contribution Modeling and Analysis
ShawHankins assists our clients in the development of contribution strategies by plan design and coverage tier. Our contribution modeling allows for immediate and accurate projections of costs and for the development of cost effective payroll deductions.