2018 Game Changing Approach

Here we are at the end of 2017 and it is hard to believe that so much information both good and bad made the news this year. How do we process all of it and how do we know what is "real" or "fake" news?

What if you had an independent service that would review the news for you and then provide honest feedback on what is "real" or "fake". This would allow you to be able to make a "true" assessment if you were interested in applying the "real" news to your situation. The Human Resource area within companies has undergone many challenges in the past several years due to healthcare changes, certain drug cost changes and the rise in more temporary workers being utilized in the workforce. Whether you are in Supply Chain or Human Resources how do you know what is "real" or "fake" as it relates to what is best for your organization and employees?

The key is to utilize partners that are not tied to the industry, especially for any form of compensation. In the Benefits space alone we have seen our independent review process uncover overcharges that are tied directly to companies that have back end compensation from the industry. Do you know the "real" compensation that your broker/consultant is receiving from the recommended providers that you are using? We have worked with hundred's of companies and the majority of them have no idea of what is the "real" costs that they should be paying. How do you uncover that "fake" news on your own with your brokers or providers? You need to engage an independent organization!

On average independent reviews optimize plan designs for companies and in turn find savings in excess of $1,000 per benefited employee.

In the contingent labor space we have seen our audit practice and contract review process find millions in savings within current supplier relationships. Why is it that these suppliers are providing "fake" news on what is the best structure of your contractual relationship whether it be through your MSP/VMS or an independent supplier contract? The reason is that they are paid on a percentage of spend so they DO NOT want you to pay less! We have found on average that 40% of companies do not have transparency within their MSP/VMS. Our independent review process works within your current relationships and provides you with the "real" news on your exposure to risk and cost savings potential!

On average independent reviews optimize contingent labor programs for companies and in turn help them reduce risk. Average cost savings with current MSP/VMS programs averages 10%!

My challenge to all of you is why not turn the tables and put in a game changing approach that reviews these two areas with total independence from the industry? This approach works side by side with you and your team and only requires 90 minutes of your time to have an unbiased report on what is the "best" news for you and your organization! You keep your same suppliers but have the peace of mind that you have the "real" optimized agreement for your organization while uncovering the "fake" charges. Every single organization that we have worked with has benefited from this independent review process.

I hope that the light bulb has gone on and that all of you will look to take the time to evaluate these two areas in Q1 of 2018. You know it is the right approach to take but will you actually take the first step and contact us?

David McCarty is President at PROMITHIA Advisers. For over 25 years David and his partners have been providing independent reviews for companies in size ranging from Fortune 50 to mid-market and helping them uncover and establish "best-in-class" contracts. You can reach a representative at PROMITHIA at [email protected]