COMPLIANCE DEEP DIVE
How you handle your most established, most profitable clients says a lot about the health of your business.
Are your clients getting the service levels they expect?
Are you bringing them the solutions that will set them up for success?
The expertise they hired you for?
Are you exposing them and your firm unknowingly to thousands, if not millions, in penalties and potential litigation?
What gaps are there that you don't know about?
What are the repercussions if you don't bring compliance failures to their attention?
We can help.
Our Compliance Deep Dive strategy accomplishes several key goals: it helps you keep your best clients, win new large groups, and reduce your client’s exposure by 50-90%, which in turn reduces your exposure as their trusted advisor.
YOUR STEPS TOWARDS COMPLETE COMPLIANCE CONFIDENCE
1: DISCOVERY SESSION (CALL)
First, let's have an informal call to learn more about each other and our companies. We'll discuss your challenges, your business model, your current book of business, your firm's resources and processes - what you're doing well and what could use improvement. In the process, we'll be able to confirm there's a fit for what BCS offers before moving on to the next steps.
2: DATA & INFORMATION GATHERING
We'll need to learn more about your valued employer client prior to moving on to the next stages. We'll send you a list of information that's needed to complete the deep dive: policy and carrier information, plan documents, enrollment guides, existing forms on file, complete or incomplete filings created to-date. We'll also collect information on the systems you're using to address compliance today: vendor lists, technology, employees and the roles they play in the process. All you have to do is send it and we'll do the rest!
3: COMPREHENSIVE DOCUMENT INVENTORY & REVIEW
From the data gathered in step 2, we'll provide a thorough analysis of what's missing, what's incomplete, what's done, and what can be done differently. This is a critical step in understanding the gaps in what's in place today. We usually find that even the most experienced employers have large exposures when we sift through the details.
4: LIVE ASSESSMENT WITH EMPLOYER
The employer plays a key role, and without a live assessment, it's difficult to gather all the context necessary to provide a strategic recommendation. We'll schedule a time with the employer to walk through their current process, understand their concerns, and collect any last bits of information needed.
5: PRESENTATION OF COMPLIANCE ROADMAP & RECOMMENDATION SUMMARY
At the conclusion of the Compliance Deep-Dive, we'll provide a summarized presentation of our findings so you and your client will know exactly where they stand. This includes:
Gaps in your employer's processes and how to fix them
Summary of recommendations for the employer on how to fix their issues
What can be done right now to reduce risk
Detailed insight for the benefits consultant on how to improve their compliance processes with other clients
Our Compliance Deep Dive usually leads to one of 2 paths:
A more extensive custom project proposal, from 1-3 months in length to correct compliance failures with the employer directly.
Joining our Compliance Subscription Service: a service which provides ongoing, expert support of your client's health plan compliance operations, in addition to regular reviews of individual client compliance requirements.