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The <br />Welch <br />Company <br /> <br />• <br />Finance and Administrative Services <br />-- Part six of six components of a Model for Health Plan Review <br />This latest of the six components of the Model for Health Plan Review very <br />often receives the greatest amount of attention because of its impact on <br />finances. Although it is a very important component of a review, it is by its <br />nature "not medically necessary." <br />-- Instead, this component deals with the expenses surrounding the health <br />plan, not the expenses generated through the delivery of healthcare. <br />Therefore, this review is administrative in nature and often contains the <br />foNowing: <br />~ Managed care vendor evaluation, selection, implementation <br />;~ Insurance or reinsurance placement <br />~ Budgeting and forecasting <br />;' Downstream study /analysis <br />v Funding priorities <br />Defined contribution alternatives <br />> Outsourcing, co-sourcing. <br />-- "The best plan, poorly implemented, is perceived as a bad plan." <br />What a shame it would be to comprehensively review a benefit plan, make <br />informed decisions about its future, and then implement it improperly. This <br />fast review component is critical to the success of a well received and <br />properly administered plan. <br />