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Years ago, we were the first firm in the market to apply the concept of balanced scorecards to health plan management. Now in an interactive, online version, our proprietary monthly Performance Scorecard summarizes key financial and non-financial data on one easy-to-read screen or page. It helps our clients and our consultants readily determine if plan performance is developing as expected, and enables better and more decisive action as needed. Our approach continues to serve as one of the most effective tools in the marketplace to help employers out-manage medical plan trend.
In a recent performance analysis, our Scorecard users averaged a 3.5% annualized increase — roughly half market trend!
Leveraging new technology and the ubiquity of mobile devices, the Chelko Group has transformed our Excel-based Scorecard into a new, cloud-based interactive tool that offers users more flexibility in viewing key performance indicators.
For example, the home page allows you to quickly change between aggregate, per employee, and per member performance results.
You can open the side panel to reveal even more viewing options, including your year-to-date annualized plan results against last year, budget, and benchmarks, and view rolling 12-month and year-to-date comparisons.
To reduce the risk that you might miss an important development, your monthly scorecard also includes our comments regarding notable items.
You can also drill into each performance category and raw data to investigate and better understand what is driving performance results.
Each view of the data can be easily printed for reference and offline use. Additionally, a single-page summary report of the most popular indicators is available to share with others.