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2011 Edition
[By John Park]
Recently, we began the release of our fourteenth annual edition of administrative performance benchmarks for health plans. It is the culmination of 515 health plan years of experience with all major sectors of the health plan industry. The attached brochure briefly describes our 2011 benchmarks.
First Universe Release
The first universe to be released was comprised of data of Blue Cross Blue Shield plans. Nearly 70% of all Blue Cross Blue Shield licensees participated this year. A summary of the results for this universe is here:
http://www.sherlockco.com/docs/navigator/Navigator%20July%2011.pdf.
Results
In short, per member administrative expenses increased by only 1.0% in 2010 and only 1.8% when you adjust to back out changes in product mix.
This growth rate is very low by any standard.
Sherlock Company’s Benchmarks
Between the MLR provisions of the Accountable Care Act, which are intended to “create incentives for” health plans” to become more efficient,” and a weak overall economy, health plans face greater pressure to optimize their administrative costs. Sherlock Company’s benchmarks of administrative expenses enable your plan to quickly determine whether it is operating at best practice and to identify which functional areas provide the highest return on management’s efforts to improve performance.
Accordingly health plans serving more than one-half of all insured Americans are users of our benchmarks.
Assessment
Additional information can be found at http://www.sherlockco.com/seer.shtml
Sherlock Company
Douglas B. Sherlock, CFA
Senior Health Care Analyst
Ph: 215-628-2289
Fax: 215-542-0690
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Filed under: Health Economics, Health Insurance, Healthcare Finance | Tagged: Accountable Care Act, Benchmarks of Health Plan Administrative Costs, Blue Cross Blue Shield Plans, Douglas B. Sherlock, John Park, Sherlock Company |
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