OnlineBenefits Releases Health Cost Benchmarking Report

June 8, 2004 ( - Think your health-care costs are high? Now plan sponsors can see exactly how bad their health-care expenses really are with an online benchmarking report.

OnlineBenefits, Inc has released a Claims Analysis Report that benchmarks a health plan sponsor’s claims experience against a health-care database aggregated by Solucient, Inc.   The report gauges how a company’s health plan compares to similar companies and identifies areas where claims deviated from normal experience so that the company can pursue cost-cutting and behavioral remedies, according to a news release.

The report will first build a representative benchmark that matches the employer’s demographics. Then, its claims experience will be compared to that normalized data to yield results that are meaningful.

The Claims Analysis Report is only available to the 350 benefit brokerage firms who partner with OnlineBenefits. For one licensing fee they may generate an unlimited number of reports, making it viable to perform claims analysis for their entire book of business.