The Open Solution™ Success Stories
$1,349,949.49 Million Claim Was Re-priced at $187,277.33
NICU baby in Utah – The Open Solution™ saved one company from paying a $1.3 million dollar claim, using an auditing and re-pricing method. Their total payout was only $187,277.33, an 87% savings off of billed!
Offers High Quality Coverage and Is Able To Retain Employees
Small Manufacturing Company – Utah company with 80 employees was on the verge of abandoning it’s fully insured group health plan due to repeated annual increases. The adoption of The Open Solution™ has allowed the company to offer high quality health insurance coverage and retain employees.
Additional 15% Savings
Retirement Community – Care center with multiple locations insuring 350 employees already using a partially self-funded arrangement. By applying the The Open Solution™ model the company has enjoyed an additional 15% savings.
Experienced a 60% Savings On Health Insurance Claims
Automotive Business in North Carolina – Has not seen an increase in premiums since beginning on the plan. Hospital and health facilities have accepted dramatically reduced payments for services based on The Open Solution’s™ auditing and re-pricing formula. They have experienced a 60% savings on claims.
40% Savings The First Year
Home Furnishings Company – Experienced a 40% savings the first year after implementing new plan ($2.5M reduction on previous $6M expense). With 180 stores in five states, the company’s 1,800 employees are free of PPO network restrictions. Eliminating the burden of assembling a multi-state network has greatly simplified the health insurance plan and reduced costs. The Open Solution™ savings example: Reduced $140K hospital bill to $12K – a savings of more than 90%.
Set Aside $1,090,000 In Their Medical Account
Multi-State Consumer Finance Company – The plan was adopted over the objection of the insurance broker who was skeptical of The Open Solution’s™ approach to claims pricing. Since then the company has been able to set aside more than $1,090,000 in their medical account during the first two years on the plan, which would not have been possible previously. The broker is now a believer!
Reduced dialysis treatment from $10,000 to $975
Texas Service Company – Dropped Blue Cross PPO and reduced premiums by 68%. Additional savings allowed the company to provide free vision, dental and life insurance and establish a free medical clinic on-site for employees and their dependents.
Premium Vacation to Temporarily Redirect Cash Flow
Wyoming Oilfield Services Company – A startup company was able to plan a “premium vacation” in order to temporarily redirect its cash flow to finance additional equipment purchases.
Able to Increase Credit Rating and Reduce Borrowing Costs
Midwest Municipality – Indiana city was able to increase its credit rating and reduce its borrowing costs after credit rating company calculated the substantial savings expected by adopting The Open Solution™.
Cost Savings Exceed 25% Annually
Utah Call Center – Insuring nearly 100 employees the company switched to The Open Solution™ from a fully insured plan. Medical cost savings are exceeding 25%.
Successfully Reduced Dialysis Treatment Costs By 80%
Large Western Tribe – The tribe has many members who suffer from severe diabetes and require regular dialysis. The Open Solution™ Plan has successfully reduced dialysis treatments costs by 80%, with savings totaling millions of dollars.
Significant Savings Over Previous Insurance Model
City In Texas – Public entity with 540 employees and retirees (some union) has been using The Open Solution™ model for four years. Only one legal action against plan by hospital which was successfully defended. They have experienced significant savings over the previous old style way of insuring.