01
The savings evaporate
The baseline shifts at renewal. The savings disappear into next year’s plan economics, and nothing else changes.
Benefits Advisory & Capital Management
Healthcare is the only nine-figure expense you manage without a balance sheet.
For self-funded employers.
Contracts are promises. Savings are Realized.
Advice with no conflicts.
Fee-only, with two thirds of our fee at risk.
Better care, bought smarter.
The right care at the right price, and every contract enforced.
A reserve you own.
Certified savings build an asset on your balance sheet.
01The structural problem
Your plan produces value. The structure gives it away.
The problem is not simply the cost of care. It is what happens to savings, risk, and margin after the claim is paid.
02
The liability is unfunded
Self-funded plans absorb claim volatility every year while building no balance-sheet asset against that risk.
03
Margin is extracted in the middle
Spread pricing, retained rebates, network markups, and risk loads take value before care reaches the member.
02From retrospective to operating system
A plan cannot be managed once a year.
Realized replaces the reactive broker cycle with a continuous operating cadence and fees tied to proof.
Measure
Annual retrospective
Realized operating system
Operating rhythm
One annual retrospective
Bi-weekly analysis, 24 times per year
Large claims
Reviewed after payment
$10,000+ claims reviewed before payment
Member action
Recommendation handed off
Navigation through the better channel, then confirmed
Compensation
Paid regardless of result
Two-thirds at risk against certified savings
Verification
Vendor reports its own outcome
Independent actuary chosen by the client verifies savings
03The Command Center
Five connected parts. One accountable layer.
The Command Center connects plan intelligence to member action, pharmacy economics, and the long-term capital strategy.
The privacy wall is absolute.
Member health data remains private and never goes back to the employer. Employers receive plan-level reporting and the fiduciary record they need.
01
Plan Intelligence
Claims, contracts, eligibility, vendor feeds, and five years of plan history brought into one operating view.
02
Member Record
A HIPAA-compliant record supports each member while health data stays strictly walled off from the employer.
03
Member Navigation
Directing members to the right care options for their needs, preventing unnecessary costs for patients and the collective plan alike.
04
Pharmacy Hub
Each high-cost drug is routed to its lowest net-cost client-approved channel: 340B, international sourcing, biosimilars, patient assistance programs, manufacturer-direct programs, or the traditional rebate model when that channel genuinely wins.
05
The Reserve
Independently proven savings become capital inside a client-owned captive, building an asset against plan risk.
What we do
Advice with no conflicts.
We work only for you. No commissions, spreads, or vendor revenue, and two thirds of our fee is at risk on certified savings.
Better care, bought smarter.
Our Command Center enforces your contracts, checks every large claim before it’s paid, and guides each member to the right care at the right price. Sometimes that means adding care most plans leave out. We never cut benefits.
A reserve you own.
Once an independent actuary certifies the savings, they fund a reserve your company owns, and it compounds on your balance sheet instead of vanishing into next year’s budget.
04How we are paid
Alignment you can see in the fee schedule.
Two-thirds of the full engagement fee is at risk. Savings are verified by an independent actuary selected by the client.
1/3
Guaranteed
Funds the core advisory and operating work.
1/3
At 5% certified savings
Earned only after the first independently verified threshold.
1/3
At 10% certified savings
Earned only after the full independently verified threshold.
Core tier available. Start with plan intelligence, contract review, and operating visibility before activating the full outcome-based model.
The unbundled plan
Every partner has one job. Every dollar is visible.
Pass-through pharmacy partner
No spread pricing or retained rebates. The client sees and keeps the economics.
Independent plan administrator
Administration is separated from risk, network, and pharmacy revenue.
Client-owned claim data
The employer controls access to its plan data and can take it with them.
Independent verification
The actuary works for and is selected by the client, not Realized.
05The Reserve / Phase Two
Proven savings become owned capital.
Build an asset against the liability you already carry.
The Reserve is a client-owned captive, activated only after an independent actuary chosen by the client certifies a 10% savings run rate.
Year one
100% of certified savings capitalizes the reserve.
Thereafter
50% to P&L and 50% to the reserve.
Capital target
Capped at 1.0–1.5× plan liability.
CFO & Treasury FAQ
You should. In year one, proven savings capitalize the client-owned captive. After that, the model directs 50% of savings to current P&L and 50% to the reserve, so near-term earnings and long-term resilience grow together.
06Illustrative calculator
See what proven savings could become.
Model annual savings and the potential growth of a client-owned captive reserve.
Estimated annual savings
$7M
15% of $46,250,000 annual health spend
Projected client-owned reserve
Year 1
$7M
Year 3
$15M
Year 5
$23M
Year 10
$49M
Illustrative model, not a forecast. Assumes 100% of year-one certified savings and 50% thereafter are contributed at year-end, earning 5% annually. Actual savings, timing, returns, fees, reserve design, capitalization limits, and eligibility vary. The Reserve begins only after independent actuarial certification.
07For advisors
The best advisors already want to work this way.
Bring your mission. Add the operating system.
Realized is an advisor partnership platform for mission-driven benefits professionals. Partner with us or explore firm integration without giving up the relationships you built.
Explore an advisor partnershipAI-assisted analysis
Reprice claims and review contracts in hours, with advisors verifying every decision.
Clinical navigation support
A clinical team helps members act on the better option and confirms the outcome.
Firm integration
A shared operating system and transition support built around your client relationships.
Asset fee participation
Participate in a disclosed share of fees as client-owned reserves compound.
Bring us one plan