What is cost containment?
Our cost containment consulting service strives to identify overcharges, scalable solutions that work specifically for your company, your culture, and your budget. We understand that your priorities are unique to you! We will help you identify your priorities and achieve them while reducing your cost and making sure you are getting the most benefits possible for your budget. All businesses deserves the right to audit their financials and identify any labor cost leakage through a cost containment solution. Contain costs and gain control of your labor burdens. With a unique process of review, audit and cost calculation, Labor Cost Advisors will help you identify “Payroll Leakage”, Insurance over-charges and Compliance Risks.
Fully-Burden Labor Cost Calculator
One key way we can deliver a tangible service to help contain, control and identify your overall labor burden and identify any potential leakage is through the use of our fully-burden labor cost calculator. Many of the costs associated with the company’s labor costs are hidden and are not readily apparent to a company. Total labor costs including the burden rate may be 50% higher than the payroll cost alone, which is why it is necessary to calculate the burden rate accurately to get a better picture of the profitability. Discover how to compute and use a fully burdened labor cost through employee cost and profitability pricing software (eCPA).
ETC – Eligibility Tracking Calculators
ETC helps employers greatly minimize financial risk by avoiding many pitfalls that the new Affordable Care Act, which can result in numerous fines and penalties. ETC tracking and ETC HR clients are able to easily keep track of their workforce while benefiting from expert consultative services on legal and regulatory issues and compliance questions. With the ETC patent tracking alert system you can leave your ACA worries at home and focus on what you do best – running a successful business.
Concerned with “premium leakage”? Are you sure all of your dollars are accounted for at all times? This means that there are employees enrolled in benefits now who are on unpaid leave or who have terminated employment. Have those persons been removed from active employee coverage and offered COBRA? If not, you may be losing money and opening yourself up to potential liability. ETC can assist you with controlling and eliminating those unnecessary costs.
Do you not have a good plan in place to comply with ACA or don’t understand what your obligations under ACA are and when these obligations are to be enforced? ETC can guide you to ensure compliance and to ensure you do not miss any of the required actions and activities.
A ‘Checks and Balances’ Review
All businesses deserve the right to audit their finances and identify any labor cost leakage through a cost containment solution that includes hard dollars savings, increased revenues and operational efficiencies. Concerned about premium and labor leakage or non-revocable cash? LCA “Checks and balance” is one of our solutions
How can it help me?
Our cost containment service helps to improve business profits, protect your business assets and of course, reduce labor costs and risks to protect and lower your labor burden. Through a “Checks and Balance” review of benefits, HR and business insurances, costs can be reduced, contained and directed to your profits and bottom line.