If you are seeking the right company to handle your health care cost containment needs you can turn to Consova. We improve the financial performance of employer sponsored health plans and insurance companies through the following services:
Dependent Eligibility Audit
Each year, Consova identifies thousands of dependents that do not meet the definition of an “eligible dependent.” The simple fact is that ineligible dependents inappropriately utilize up to a staggering 3% to 5% of plan assets.
Keeping Risk Tolerances in Mind
Clearly, this level of erroneous payments exceeds the risk tolerance of any administrator subject to the fiduciary obligations established under an ERISA plan or organization applicable to Sarbanes-Oxley.
Other Coverage Verification
As employers continue to seek ways to reduce annual healthcare expenditures, many have turned to the implementation of working spouses rules such as a spouse surcharge or carveout/exclusion rule as a way to offset their expense. The challenge facing most plan managers is to ensure that all employees are participating in these rules properly while only relying on the honor system. Consova’s Other Coverage Verification process allows plan sponsors to maximize the rules that have been established by truly confirming the availability or not of other employer coverage.
Overpayment Identification and Recovery
For years, Consova has excelled at overpayment recovery and identification. We supplement the efforts of insurance companies to identify and recover overpayments from providers. Consova works directly with the largest payers to ensure that a plan’s assets are preserved, minimizing health care costs in the process. Of course, this process effectively translates into enormous savings.
Maintaining the Reduction of Overpayments
Further, as an ancillary byproduct of our services, our clients become acutely aware of the types of overpayment errors we detect. This, in turn, allows our clients to take the appropriate steps necessary to minimize future overpayment errors.
Claim Payment Transparency
Claim Payment Transparency helps payers optimize claim payment accuracy. Consova works on your behalf to eliminate claim payment errors. Even small inaccuracies can greatly impact your bottom line.
Relying on Up-To-Date Technology
Consova utilizes state of the art developments in data mining to deliver significant savings for your company. We know that manual processes can result in both inconsistencies as well as inaccuracies. The end result of working with Consova is that costs associated with payment variance will be reduced and interest payments to providers will be minimized.