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We understand that portfolio management must fit in with an overall company strategy that integrates products and services with the company’s distribution system and customer base. We offer expert service in product designing, development and implementation, balancing both financial and marketing goals. Our extensive domestic and international experience is second to none.
Paramount works with health plans to manage clinical and financial risks, measure provider network and clinical performance, and report to clients. Insights gained from Paramount’s medical claims, enrollment and eligibility information, and severity adjusted outcomes data provide health plans the ability to manage disease, improve quality, control costs, maximize staff productivity, and satisfy customers.
Paramount health portfolio management capabilities will enable to:
- Analyze profit and loss and product line costing by line of business to improve effectiveness of provider rate negotiation.
- Benchmark plan performance against norms and competitors to anticipate financial risk, and design financially optimal benefit plans.
- Review preferred provider practices to determine variations in cost, resource use, and clinical outcomes resulting from treatment patterns.
- Compare health plans cost, utilization, enrollment and quality measures to identify strong and weak performing plans, determine corrective action plans, and improve rate negotiations.
- Identify and risks stratify candidates for disease management programs to manage high prevalence, high cost conditions.
- Monitor physician and provider performance against evidence-based guidelines to improve quality of care and outcomes.
Product designing is the configuration of a variety of elements. Product configurations are protected as long as they are distinctive and operate like trademark. A significant part of our role is design development and pricing of health insurance products.
A natural progression of this expertise is the consultancy service which range from conceptual guidance to full pricing and implementation support, focused on reducing cost and increasing viability with innovative product design solutions and implementing internationally accepted managed care techniques.
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