Low Trend Equals Big Savings
Compared to industry benchmarks, Luminare Health's 3-year average trend of just 1.3% means significant savings for our clients.
But just how significant are the savings? When compared to an industry benchmark trend of 6.5%, over a 3-year period, Luminare Health’s 1.3% trend brings almost $1.6M in savings, based on $5M spend.
How We Deliver Value
Our expert claim analysts review high-cost claims to capture billing errors, waste and abuse, and to negotiate savings opportunities. The result is medical trend that is solidly below the industry benchmark.
Want to know how we do it? Connect with us through the form below.
Additional Savings from Claims Processing
As a key part of our cost containment strategy, our expert claim analysts review high-cost claims to capture billing errors, waste and abuse, and to negotiate savings opportunities.
Where it makes sense to automate, we do. But we don’t believe all claims, especially high-dollar ones-should be set on autopilot. Our decades of industry experience have found that our tenured claims experts capture waste and abuse across some of the following categories:
Where it makes sense to automate, we do. But we don’t believe all claims, especially high-dollar ones-should be set on autopilot. Our decades of industry experience have found that our tenured claims experts capture waste and abuse across some of the following categories:
- Subrogation review
- Hospital auditing
- Eligibility audits
- Specialty drug management
- Prior authorization
- And more
In total, this expert claims-review brings an additional 15% claims processing savings, even before network discounts.
Connect with your Luminare Health sales executive or client manager to learn more about our value proposition.
Luminare Health trend is based on PEPY covered allowed medical claims for standard TPA business, excludes Rx claims, fees, and other costs. Benchmarks and our medical trend are not calculated on the same basis. Potential differences include but are not limited to: COVID impacts, inclusion of Rx benefits, fees, and other costs, some benchmarks are based on average expected trend rather than actual claims. All figures are calculated as a consolidated block or industry.