Businesses everywhere are looking to cut costs due to the pandemic.
It can be a daunting task, but you don’t have to face it alone.
Ashton Benefits can help you leverage cost containment practices to your advantage so your business can stay afloat.
We know small businesses are facing hard times. From adjusting to telecommute life to managing employee expectations, there are a lot of balls in the air. So taking a step back to review your company budget is just one more hurdle.
While adjusting budgets can be tedious, everyone knows they’re very important to the success of a small business. These adjustments can take various forms, such as reviewing discretionary spending, labor evaluation, and revisiting cost containment practices.
Cost containment is when a business monitors a company’s budget to ensure there isn’t any excessive or unnecessary spending. This helps reduce the likelihood of long-term budget attrition and increases profitability over time.
Small businesses that frequently revisit their budget are less likely to overlook excess spending. But every department and area must be carefully reviewed. This can take a significant amount of time, and when rushed, leads to unnecessary or unwise budget cuts.
We at Ashton Benefits believe in taking time to thoughtfully review your options and find a great cost containment practice for your business. Every company is unique, and it’s important to provide the right benefits for your employees.
Here are a few ways Ashton Benefits can help your company save money through cost containment:
We’ll review the spending tendencies of your employees, specifically in regards to their health benefit needs. By understanding what health benefits your employees use most, you’ll be able to select an affordable benefits package that covers what matters.
Medicare Advocacy Program:
This feature allows you to utilize an independent insurance brokerage to educate your employees about their Medicaid and Medicare options. Medicaid and Medicare can be tricky to navigate, so this can save anywhere between 2-4%. This percentage may seem small, but it adds up in the long run.
RX Referral Program:
The RX Referral program compares and offers lower-cost prescription options for your employees. They’ll be notified more affordable presecriptions when they become available and can elect to switch to these. This ensures your workers receive medication they need without overspending.
Surgical Network and Direct Provider contracting:
This option allows for bundled pricing on various medical services. Employers typically save around 45% utilizing this option, and employees can get access to the care they need for no extra cost.
Small businesses need as much support as they can get. And there are a lot of options to choose from to determine what cost containment practices are right for you. We know it can feel a bit stressful. Partnering with a benefits company like Ashton Benefits ensures you have everything you need to make the right decision for your company.
The services listed above are just a few cost containment practice options available through Ashton Benefits. We’re happy to go through all the available choices with you and find what works best.
We make the review process straightforward and transparent, so you can get back to what matters most - helping your business thrive.
Contact us today to see how Ashton Benefits can help your business. We can’t wait to work with you.