IMB began working with a large pharmaceutical company in 2014 to explore how we might address pain points in health benefits financial administration and create an opportunity for a new, diverse supplier entrant in the insurance category. We began implementing the Benefits MSP solution in October 2015, and we’ve identified and helped capture significant overpayments, refunds, and process improvements.
- Initial $2,700,000 in cost savings and cost avoidance
- Represents 8% of total ASO fees and premiums
- In addition, IMB identified issues with historical data leading to $18,770,000 of additional trust allocations
- $480,000,000 in annual Tier 1 diversity spend