Hybrid Operations Optimization Program (HOOP)
HOOP's Corporate Expense Reduction platform offers 11 point expense analysis aimed at identifying overcharges and billing errors related to key expenses areas, such as credit card merchant processing, parcel shipping, waste and recycling, property taxes, Workers Compensation, general liability, and commercial auto insurance.
When you qualify for our services, you shout your expenses/needs to the Net. To win Savings at no Risk.
WorkComp Premium Recovery (PAS)
Our WorkComp Audit identifies and recovers workers’ compensation premium overcharges by reviewing the past five to seven years of classifications, experience rating calculations and premium audit calculations.
Common errors are on clarification,payroll,contractor, incorrect Xmod, LCM, Policy Credits Removed ,No Audit Worksheets,Policy Rates Changed ,Payroll Separation Not Allowed,Payroll Does Not Match,No Physical Audit Completed.
Our experience indicates that over 70% of all companies have been or are currently overcharged for their workers’ compensation premiums .
Credit Card Audit
Our Credit Card Audit focuses solely on expense reduction within the payments industry. Our expertise and experience coupled with our through expense reduction process, ensures a competitive advantage over other firms advertising similar services.
WorkComp Audit Overview
Between 1/3 and 1/2 of all workers compensation policies contain some form of premium error or mistake. Most of these errors and mistakes are in favor of the insurance company and to the detriment of the employer or policyholder. These errors and mistakes cost employers thousands of dollars each and every year in premium overcharges.
Below are common issues causing overcharge of premium.
The auditor change your work comp class codes on the audit
Class codes changed by the insurance company
Payroll moved into the highest rated class
Key employees and owner classified correctly
Sub contract labor properly classed
Our service will adjust and get you refund on overpayment.
Our Credit Card two-phase approach to expense reduction is unparalleled in the payments industry. We correct the processing plan to reflect the most competitive plan type and rate, using formulated, specific asks of the existing provider. Our team then works with the client to further reduce the non-negotiable fees through processing optimization, where we can help qualify payment transactions at lower interchange rates by passing through additional processing data.
Our Waste Audit saves Clients needless costs in waste disposal billing by analyzing services and producing the most cost effective solutions. Our expertise and knowledge of the waste industry provides our Clients the assurance that they will receive the most effectual and concise disposal bill investigation on the market today.
Our waste audit service lowers our Client’s monthly expenses for solid waste, medical waste, and recycling disposables by finding billing errors, overcharges and other cost reduction opportunities by evaluating the Client’s invoices, service agreements, equipment, current service levels and pricing structure.
•80% of commercial businesses can benefit and save with a Waste Audit
•Average Savings per Client is between $3K – $15K annually
Commercial Property (Cost Segregation)
Our Cost Segregation service if one of three flagship services making up our Specialized Incentives. Cost Segregation is an engineering based study that permits commercial real estate owners to reclassify real property for depreciation purposes and reclassify it as more rapidly depreciating personal property. This reclassification results in significant cash flow benefits in both present and future years through considerably shorter depreciable tax life and accelerated depreciation methods.
The Commercial Property benefit is a Federal program designed for business owners who own commercial properties, or have performed significant lease hold improvements. This program traces it’s roots as far back as the Tax Reform of 1986, but went through significant changes in 2004 making it more accessible for small and midsize property owners to take advantage of. The most recent changes appeared as late as February 2009 in the American Recovery and Reinvestment Act. This is an engineered based program that focuses on the components of the building. 90% of all commercial properties qualify for this program. Commercial Property Benefit provides an opportunity to significantly reduce federal taxes and improve case flow.
Property Tax Mitigation
Our Property Tax Mitigation service if one of three flagship services making up our Specialized Incentives. Outside of income taxes, the single largest recurring charge for commercial property owners are Property Taxes. In most states, owners are required to pay taxes on both their real estate as well as their personal property. These charges are often an immense expense and a constant hit to their bottom line. To be ensured clients are not being overcharged on Property Taxes, we use an industry specialist with extensive market experience in valuation, tax and law to perform their Property Tax Mitigation.
Property Tax Review
Most companies consider property taxes to be a fixed cost. However,are view of real and personal property tax assessments often results in the identification of opportunities for lower property tax bills. A property tax review can result in savings up to 10-25% or more of the total real and personal property taxes paid. Savings identified in the current year are typically realized in future years as well . Contact us today to book a discovery call