The Private Exchange market is still relatively new but it is becoming increasingly competitive. A critical component to standing out in the marketplace and retaining clients is to provide a positive experience for your
clients’ employees. That positive experience should not begin and end with the selection of a plan.
Demonstrate to your clients that you are managing the services for their employees proactively by having regularly scheduled audits as part of your best practices. Use of an independent audit service can further convey
your dedication to quality.
Options to consider are:
- Pre-implementation audits can validate that your PBM has set up the appropriate benefits for your plans.
- Retrospective plan benefit audits of claims to ensure that they were paid correctly.
- Financial audits can demonstrate the actual value of proposed and implemented pricing terms and claims payment administration.
Do not wait until your clients demand it!