GREENWICH, Conn., September 2024 — AdminaHealth®, the leading provider of Software-as-a-Service (SaaS) solutions for employee benefits billing and payment, today announced the launch of its ROI Estimator for the AdminaHealth Billing Suite. An innovative sales tool, the ROI Estimator allows brokers and employers to estimate the projected return on investment (ROI) groups can achieve by using the Billing Suite to streamline their monthly employee benefits premium billing reconciliation, consolidation, and payment management.
“Our industry-leading technology leverages automation to generate accurate and efficient benefits billing administration,” said Robert A. Bull, CEO and Founding Member of AdminaHealth. “With the new ROI Estimator, brokers and employers can instantly quantify the cost savings and time efficiencies groups can expect with our cloud-based solution. It’s a real eye-opener just how significant the savings are.”
Estimating Hard and Soft Dollar Savings
The AdminaHealth ROI Estimator takes a comprehensive approach to hard and soft costs, including:
- How much cash can be saved by uncovering and eliminating premium leakage in processes.
- The dollar value of time saved by automating premium reconciliation, billing consolidation, and more. And because the AdminaHealth Billing Suite is extremely accurate, further savings are gained by eliminating the need to rectify billing errors.
The Burden of Manual Billing
A recent Health & Voluntary Benefits Association poll underscores the need for automation in employee benefits billing administration. Nearly one-third of brokers surveyed said that either they or their clients spend multiple days a month reconciling employee benefits premium bills, with almost half spending at least one full day a month on reconciliation alone. These findings highlight just how much time is consumed by manual billing processes—time that can be better spent on strategic activities.
Projected ROI and Savings Ranges
The Estimator provides a range for the first year’s ROI. For example, an employer group with 3,000 employees, two list bills and four self-bills, and 10% annual turnover can expect a projected ROI of $26k (23%) at the low end, $178k (270%) at the high end, and an average savings of over $102k (146%) even after paying for the service.
Available Now!
Brokers and employer groups are invited to utilize the tool to help make informed decisions about their employee benefits billing administration and see for themselves the significant cost-saving potential of the AdminaHealth Billing Suite.
Simply click the red button to get started.