Why In-Depth Analytics are Key to Your Self-Funding Success
Self-funding your health care plan gives you total control and flexibility over plan design. Instead of paying for a one-size-fits-all plan that includes expensive benefits your employees may not use, you’ll design a plan that includes the exact benefits your group needs.
Plus, you can easily redesign the plan on an ongoing basis to eliminate plan abuses, counteract trends toward higher-cost claims, or change benefits as your employees’ needs change.
But what goes into making those decisions?
Staying on top of plan trends, comparing claim data against nationally-respected benchmarks, and identifying areas of concern is the job of HealthNow Administrative Services’ (HNAS) expert Analytics Team.
With over 100 years of collective experience in the health care industry, our team utilizes enhanced system capabilities to accurately gather, organize and analyze each plan’s spend. Through intelligent analysis of claims data and trends, we help control costs for the employer and the plan members.
Why compare your data to national benchmark resources?
Reviewing your data on its own only provides part of the picture. To identify trends and improve population management, we compare your data to national benchmark resources. We also import the Johns Hopkins Clinical Predictive Modeling Tool into our system to provide monthly reports with risk scores for disease states that are managed by our disease management and case management team.
For instance, we know that plan members with certain chronic conditions like diabetes, heart disease, asthma, COPD and depression drive up utilization and plan costs. By using the Johns Hopkins modeling, we can identify members with primary diagnoses of chronic conditions and assign them for follow-up with our Disease Management program. HNAS Care Managers will then work with those members one-on-one to monitor their adherence to treatment regimens and reinforce the benefits of making healthy lifestyle choices.
Through the use of sophisticated analytics tools, we’re able to recommend ways to minimize utilization of high-cost services and lower claim costs.
We take a consultative approach to reporting.
One of the most important things we do is to meet with our clients on a regular basis to discuss their health plan trends, identify areas of concern, look at the predicted risk of the group, and talk through ways to act on that data. Our consultative approach helps clients interpret and use their plan information to make smart, data-driven decisions.
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