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Your employees want you to support their efforts to live healthy lives at work - and outside of their workplace. How do you monitor your employees’ changing needs, continue to offer benefits that matter to them, and measure the impact of your employee benefits plan costs? By harnessing the power of analytics.
We start with rigorous analysis that provides insights about your employees’ health and benefits utilization. We combine our analysis with our extensive benefits knowledge to guide you in making sound decisions. Analysis enables you to target employee wellbeing and manage future benefits costs.
Being able to understand future benefits costs is important to you. Using employee benefits usage information plus industry benchmarks, we provide you with insights and advice that will ensure you have an informed view of future cost of coverage and identify savings levers.
We leverage our extensive database of claims and exposure data to provide you with insights.
By benchmarking historical employee claims data and using BenefitMAP forecasting features, we can project how trends might impact your future costs so you can make informed planning decisions. The information is customized for your organization and tailored to your specific needs.
Using BenefitMAP, we give you a transparent view of your cost of coverage, helping you determine optimal plan design and savings initiatives over a 5 year time frame.
We designed the Health Monitor to dynamically capture data and produce a clear picture of your benefits performance in three areas:
With this tracking tool, you can monitor the impact of your employee benefits against specific key performance indicators (KPIs) that we know have a significant impact on organizational success.
Tracking trends annually, we provide analysis so you can make strategic decisions to:
We provide expert analysis to identify recurring themes, emerging trends, and opportunities for improvement of your benefits plan, providing strategies to turn insights into action.
We perform comprehensive audits of your entire medical and dental claims history to proactively identify red flags under specific service types. Based on our analysis and insights, we can help you reduce excessive costs caused by claim payment issues, manage rising claims costs and ensure you’re meeting governance requirements. We also advise you on what to expect with insurers and how to effectively resolve concerns.
Our Drug Utilization Review (DUR) analyzes drug utilization trends and provides insight into drivers of drug costs. You’ll gain an in-depth understanding of your drug costs and related health trends impacting employees, with clear recommendations for changes specific to your drug plan. Our DUR report is an important analytical tool to help you manage costs and make informed planning decisions.
Our plan design database is the largest of its kind in Canada with over 1,000 benefit plans from 900 organizations. When you want to assess your plan versus a comparator group, our deep database and proven expertise is your most trusted source of competitive plan insights.
We take benchmarking a step further with our Relative Value Analysis - an essential tool for measuring the value of your benefits design. We isolate the critical factors that define the real value of your design versus comparator plans. The analysis supports the decisions you may be considering when making plan changes or harmonizing plans. With our help, you’ll know the financial impact to your organization and your employees.
Conducting your annual market search at renewal time can be time consuming and costly. We manage the process for you by accessing our financial database to benchmark your insurer's expenses. You see the lowest financially sound costs and can use this analysis to negotiate optimal financial conditions with your insurer. This is done at each renewal, thereby minimizing the need for costly market searches to assess your insurer's pricing.
Analytics can do more than provide a snapshot of what’s happening now. You will get a forecast that can help you avoid unexpected costs in the future. We create scenarios with you based on a variety of plan features to project current and future costs. Then we can tailor employee benefits solutions to your budget.
Your search for high quality vendors and providers can be challenging in the evolving benefits market. We do ongoing extensive marketplace research, resulting in robust insurer and marketing databases. A robust database is what enables Mercer to assist you in streamlining your search for vendors. We connect you with trusted partners, relieving you from the complicated process of researching and selecting potential carriers.
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