Claim Analytics and Reporting Platform
Our claims analytics and reporting platform which allows 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.
Benefit Design Modeling and Strategy Tool
IMPACT is state-of-the-art modeling software which enables our consultants to interactively identify and evaluate plan design strategies, perform sensitivity analyses and quantify the financial impact of plan changes.
Financial Projections and Budgeting
JR Katz works closely with your staff 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 JR Katz benchmarking database generates a detailed comparison of benefit plans by industry, region, and size. The customizable data includes prevalence of benefit practices, cost-sharing, designs, eligibility, and cost.
Fully Insured versus Self-Funding Analysis
By generating a 36-month cash flow 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.
Incurred But Not Reported (IBNR) Reserve Analysis
JR Katz 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.
Plan Migration Analysis
Without properly setting rate equivalents and contributions across multi-plan offerings, plan selection bias is created. Our migration analysis examines how contributions and plan design impact employee selection decisions.
Contribution Modeling and Analysis
JR Katz assists in the development of contribution strategies by plan, location, tier, division, etc. Our contribution modeling allows for immediate and accurate projections.
Merger and Acquisition Due Diligence and Plan Integration
JR Katz provides M&A due diligence consulting to assist employers evaluate the financial, contractual and administrative liability inherent in a potential acquisition candidates' benefit plan.
IMPACT: A benefit design modeling and strategy tool (pdf)
View, analyze and quantify hundreds of different plan design scenarios by manipulating various components of cost including:
- Census and Demographics
- Medical Claims
- Network Discounts and Utilization
- Fixed Costs
- Stop Loss / Reinsurance
- Deductibles
- Coinsurance
- Copays (Office, ER, etc.)
- Employee Contributions
- Out of Pocket Maximums
- Prescription Drugs
- Consumer Driven HSAs or HRAs
- Large Claims
- And More...