Health Benefits Optimization

Create a unified participant experience, consolidate vendors, and implement programs that optimize healthcare spending.

Carewise Health Benefits Optimization is a suite of benefits administration solutions that support the needs of employers and self-funded group plans. Solutions can be configured to deliver healthcare consumerism, financial incentives, and other healthcare initiatives.

Benefits administration is often viewed as a commodity, rather than a strategic solution. However, the 2007 SHPS Health Practice Study showed that effective administrative and communications practices, coupled with financial incentives, can reduce total healthcare spending by as much as 27 percent between otherwise equivalent employers, whereas the cost of these services is often less than two percent of total spending. For that reason, Carewise Health Benefits Optimization supports healthcare strategies that manage employee health and optimize health spending.

• Consolidated services. With Carewise Health Benefits Optimization, plan sponsors can consolidate vendors, streamline administration, and improve data accuracy. It supports sophisticated healthcare strategies through the integration of eligibility and enrollment, health spending accounts, and population health improvement programs via a participant Web site.
• Health planning event. Carewise Health is able to transform the process of annual benefits enrollment into a health planning event by combining benefits administration with health management programs. Each interaction with the participant facilitates well-informed decisions regarding personal health behaviors, healthcare expenses, and benefits election.
• Integrated technology. All platforms are modular, configurable, and able to accommodate future growth. As the plan sponsor’s healthcare strategy evolves, Carewise Health can adapt its services to meet its needs. In addition, a participant Web site makes it easy for individuals to manage their health, as well as their healthcare expenses.

Carewise Health is marketed by SHPS, Inc., a provider of integrated health solutions. With more than 20 years of experience, SHPS serves employers, government agencies, third-party administrators, and other plan sponsors.