Dallas, TX February 17, 2010—HRAdvance, the standard in eligibility solutions, today released the latest average results from their comprehensive dependent eligibility audits. These results show an average first year Return on Investment (ROI) of 1,436%. While many providers base their estimated ROI on the discovery of ineligible populations anywhere between 3 and 12 percent, few publish detailed comparative information.
“Benefits professionals are sophisticated consumers of services,” said Craig Firestone, HRAdvance CEO. “They buy health plans based on outcomes, and they are continually working with providers to acquire services for their employees that deliver more. It’s time that they are able to evaluate dependent eligibility audits in the same way, and that’s only possible when eligibility audit providers are willing to release their results. As more employers adopt dependent verification as an internal control, it’s time to fully inform the consumer.”
Since its inception, HRAdvance has worked with more than 175 clients, and 141 of those have completed their initial comprehensive dependent eligibility audit. Clients have garnered over $215 million in comprehensive audit savings and more than $20 million from ongoing eligibility verification savings. HRAdvance clients find an average of 10.93 percent of dependents ineligible on their health plans. For a listing of audit outcomes by industry, including construction, energy, government, healthcare, manufacturing, publishing & printing, retail and technology and telecommunications go to the HRAdvance website.
To learn more about HRAdvance and its eligibility solutions, including Plan-Smart™ and Plan-Guard™, please visit their website at www.plan-smart.com.
HRAdvance was founded in 2004 with a narrow mission in mind: to provide HR and benefits professionals with best in class hosted solutions that can be deployed without capital expenditure or IT dependency. Its guiding principle is that employees are the most valuable asset of virtually every organization.
The company’s core competency is its Plan-Smart™ and Plan-Guard™ dependent eligibility audit and verification services. With more than 175 clients that range in size from 500 to more than 100,000 employee lives, HRAdvance is the best in class dependent eligibility audit solution. Its management competencies and healthcare focus reflect over 150 years of combined experience in developing automated human resource, benefits, administrative and financial solutions for government, public and private organizations. Visit www.plan-smart.com to learn more
This press release was distributed through PR Web by Human Resources Marketer (HR Marketer: www.HRmarketer.com) on behalf of the company listed above.