Salus Healthcare Expense Management (HEM) enables companies to transition from being fully insured by a traditional health insurance carrier to self-funded. Companies that want to enjoy the cost savings that comes with being self-funded, but are worried about the potential cash flow volatility of healthcare claims, now have a secure and simple solution that provides cash flow smoothing AND easy administration.
Before Salus HEM, one of the biggest obstacles preventing companies from transitioning from fully insured to self-funded was the concern about having enough cash on hand to cover higher than expected claims in a given month. Salus HEM eliminates this worry by combining on-demand liquidity with your company’s catastrophic coverage to smooth monthly claims’ cash flow.
The Salus HEM platform centralizes, integrates, and automates all information related to self-funded benefits plan administration. The platform provides real-time reporting on all healthcare expenses, all categorized the way Finance and HR departments need for greater efficiency, transparency, and analytics — medical, Rx, dental, vision, wellness, other voluntary benefits, and stop-loss. Weekly and monthly reporting and payment processes take just minutes each reporting cycle.
On-demand liquidity combined with catastrophic coverage smoothes monthly claims’ cash flow
Fully automated platform includes automated banking for payments and reimbursements
Save as much as 30% on monthly premiums by being self-funded
Enjoy greater flexibility in choosing plan features and vendors
Real-time reporting and monitoring of all healthcare plans – medical, Rx, dental, vision – in a secure environment
Complete access to healthcare benefits data allows you to track claim and cost trends