Data Analysis & Actuarial
Financial, Actuarial, Claims and Benefits Benchmarking; translating data into actionable information to make business decisions with confidence.
Are your program structure, plan design and pricing appropriate for your organizational goals and company culture? Could you be saving money with wellness programs and cost-conscious features?
Healthcare is typically the 2nd or 3rd highest expense item for an organization, and healthcare spending increases continue to significantly outpace general inflation.
Central to a good strategy is data analysis which provides you actionable information to make smart, data-driven decisions.
Our Annual Benchmarking Survey gives you access to data that is trusted by top insurers and provides data you need to compare your programs with other employers.
As your advocate, we use data analysis as a negotiating point with the current vendor and with other possible insurers. We also use data analysis throughout the plan year to measure performance, compare actual vs. forecast, and to review service issues. We will actively interpret, analyze and recommend solutions based on extensive data analysis.
We will analyze your needs in terms of benefit plans, financial modeling, actuarial analysis, and forecasting. This includes using claims experience and other national data, and conducting a thorough review of current vendors, contracts and pricing.
We conduct our own underwriting, and we rely heavily on analysis from our in-house actuarial and financial analysis team and our affiliation with the world’s largest and most respected actuarial firm.
We are the only benefits firm operating in Arizona to have this unique strategic relationship, which includes an exclusive suite of actuarial and financial analysis reporting, which can include:
- Comprehensive Assessment of Health Plans Report
- Plan Design Analysis
- Mid-Year Renewal Projection
- Renewal Evaluation
- 5-Year Projection
- Stop-Loss Analysis
- ACA Employer Impact Report
- Self-Insured Feasibility Analysis
- Merger and Acquisition Assessment Report
- Pharmacy Benefit Manager Evaluation
- Discount Analysis
- BPS: Benefits Positioning System
Additional analysis includes pharmacy analysis, contribution modeling, PPO network analyses, and other competitive analyses.
POPULATION HEALTH ANALYSIS & PREDICTIVE MODELING
Through our affiliation agreement with the leading population health firm, we also can provide you with access to reporting that allows us to mine your employees’ claims and biometric data. This firm has uncovered nearly $2 billion in health savings opportunities for more than 900 employers.
- on an aggregate basis, to better design programs and efforts to improve the health and well-being of your employees;
- on an individual basis, through your health insurance company or other vendor, for targeted engagement in health improvement programs.