New: Sherlock Benchmarks - Using AI to Simplify Expense Classification

2/18/2026
1:00 PM – 2:00 PM CT (60 minutes)
Zoom Meeting

 

Accurate, apples-to-apples benchmarking depends on consistent expense classification—but we know that’s often one of the most time-consuming parts of participating in Sherlock Benchmarks, especially for plans new to the survey.

Sherlock Benchmarks uses a well-defined set of expense classifications grounded in years of health plan input. These definitions—documented in both the survey and a searchable reference guide—enable meaningful peer comparisons. But because internal accounting structures don’t always align perfectly with benchmark definitions, new participants often face a “translation” challenge that can add real burden to already stretched finance teams.

In this session, Sherlock will introduce a new capability designed to help.

Sherlock has developed an AI-enabled tool that uses a large language model to assist with expense classification. By analyzing a plan’s description of its activities, the system suggests how associated expenses should be categorized to align with peer reporting. Early results indicate this approach can significantly reduce the time required to complete the survey—while increasing confidence that expenses are being classified correctly and consistently.

Join us to learn how this new approach works, where it fits into the benchmarking process, and whether it could make Sherlock Benchmarks easier and more efficient for your organization.