Axiom Healthcare Services manages senior living communities across Kansas and Colorado, with about 1,000 employees in skilled nursing, assisted living, memory care, home plus residences and a senior care hospital.
The starting point.
Axiom was on a fully insured plan, caught in the same renewal cycle every year: a large increase, a negotiated slightly smaller increase, and everyone calling it a win. Sixty percent of its claims were pharmacy, and the prior renewal proposal didn’t address it. That proposal also moved Axiom to the most restrictive option on the market for data and audit rights.
The renewal.
| Step | Renewal |
|---|---|
| Initial offer | +2.6% |
| Negotiated, same plan and enrollment | −8% |
| Final, with a carrier giving full data and audit rights | −13% |
A +2.6% renewal looks like a win by most standards. Ethos asked Axiom to hold off, negotiated it down, then found a carrier that would give the plan the data and audit rights it needed for the years ahead.
What employees got.
- Premiums 27 to 38% lower, depending on the plan
- Lower deductibles across the board
- Mail-order prescriptions at no cost
- No change of pharmacy, doctor or medication required
A committee, a charter.
Axiom formed a benefits committee of its CEO, CFO and Chief HR Officer, with a charter, regular meetings, KPIs and ongoing education. The committee now requires compensation disclosures from every service provider, and every recommendation is measured against the fiduciary standard. See how fiduciary governance works.
Ethos helped us build a long-term benefits strategy that truly fits who we are: a culture that takes care of people while staying disciplined operationally.
Chance Becnel, CEO, Axiom Healthcare Services
What’s next.
Axiom is in Year 1 of a three to five year plan under the Fiduciary Framework™. The data is flowing, the committee is meeting, and the next phases include unbundling plan components and expanding pharmacy savings.
Figures as published in the Axiom Healthcare Services case study, with Axiom’s permission.