One approach to identifying inefficiencies in the administration of a benefit plan is a benefit audit.

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A benefit audit is a common approach used to identify inefficiencies in the administration of a benefit plan. This process involves a detailed review of the plan's design, operations, and management to identify areas where improvements can be made to reduce costs, increase efficiency, and enhance the overall value of the plan to employees and the employer. The audit typically covers various aspects of the plan, including eligibility, enrollment, contributions, claims processing, customer service, and compliance with legal and regulatory requirements.

One Approach to Identifying Inefficiencies in the Administration of a Benefit