Vocational Improvement Program

Vocational Improvement Program saves $148k via the MINDFUL METHODOLOGY™

CHALLENGES

As part of our Wholistic Mindful Analysis, we uncovered these three main challenges:

1. Multiple medical and dental carriers – this resulted in a large number of invoices which was extremely difficult to manage.
2. Continuous yearly increases in medical and dental premiums.
3. A fragmented paper-driven onboarding for new employees.

 

RESULTS

Using our MINDFUL Methodology™, we increase the company’s reserves by $148k per year, implemented an onboarding software and consolidated the billing.  Here are the details.

1. We developed a partial self-funding medical plan for VIP. We also created a full self-insured dental plan. This plans increased the employee’s medical plan benefits, stabilized medical premiums and gave the employer control of its medical services.  We also created a Mindful Reserve of $148K to be used at the employer’s discretion.
2. We implemented a benefits onboarding software which resulted in the streamlining of all the employees’ election of benefits, which reduced administrative time, paper and notifications to the insurance carriers.
3. We were able to provide one consolidated monthly bill for all employee benefits which eliminated the reconciliation and fragmented billing and invoicing.