SThree a leading recruitment firm has cut its medical insurance premiums by more than £23,000 – a 10 per cent saving – by using a specialist team of nurses to manage its claims.
SThree employed PMI Health Group’s nurse-led claims management service, Managed Care, which has led to more than £11,000 in claims savings in just 12 months. This was achieved by staff choosing NHS rather than private treatment where it was deemed more appropriate.
“The company’s medical insurance premiums were increasing year-on-year and we needed to find a sustainable solution to help manage this cost,” said Mitesh Chandarana, Benefits Specialist at SThree.
“Since investing in PMI Health Group’s Managed Care service, we have achieved a 10 per cent reduction in premiums for the first time in the history of the scheme – a fantastic accomplishment given the current economic climate.”
Managed Care is a claims management service that uses medical professionals to support employees with any health queries they may have and help return staff back to work quicker.
Along with reducing sickness absence levels, it enables businesses to cut insurance premiums by offering advice to staff on the most cost-effective method of treatment.
“Clients are increasingly looking for a genuine consultancy services when it comes to dealing with their private medical insurance scheme,” said PMI Health Group director Mike Blake.
“We have been able to offer SThree a sustainable strategy that addresses the cause of the spiralling premium costs. We are delighted with its success.”