March 28, 2008
Philadelphia. March 28, 2008. Recently, Sherlock Company launched its eleventh annual benchmarking study for Blue Cross Blue Shield Plans. Twenty-three Plans are participating in this year's performance benchmarking study, representing most of the 39 primary Blue Cross Blue Shield licensees. Surveys are due back to Sherlock Company by the end of May and publication of the results is expected to begin in early July.
Sherlock Company's performance benchmarking study, the Sherlock Expense Evaluation Report (SEER), provides benchmarking data and analysis for the management of health plan administrative functions. Benchmarks include comprehensive and highly granular financial and operational metrics to help health plans identify whether they operate at best practice and which functional areas provide the greatest returns on management efforts to enhance plan performance. The broad scope of the metrics facilitates drill-downs to identify specific operational issues that can be used to map solutions to performance variances. In addition to financial and operational benchmarks, SEER also includes detailed cost and utilization information.
In 2007, 45 health plans serving one out of every three insured Americans used or participated in Sherlock Company's performance benchmarking. Besides universes of Blue Cross Blue Shield Plans, other universes include Independent, Provider-Sponsored Health Plans, Medicare Health Plans, Medicaid Health Plans and Larger Health Plans.
Sherlock Company (www.sherlockco.com)
Provides benchmarking data and analysis for the management of administrative functions.
Performs valuation and due diligence for business combinations and other capital transactions.
Offers financial research publications concerning health plans.