Why it's the Best This company has extraordinary proprietary technology that analyzes current data to predict where the hospital's major employee healthcare costs will be in the future, and makes recommendations as to how to reduce them. The physician analysis tool facilitates Pay for Performance (P4P) initiatives.
The company's total offering is a system, using Web-based information technology, that addresses and reduces employee health benefit costs without reducing benefits or shifting cost to your employees.
Using proprietary information and sophisticated technology that transforms claims data into powerful analysis of historical trends resulting in projections of future costs and risk, our partner enables organizations to focus on the solution to its health related problems through plan design, network administration and efforts to reverse the trends of chronic illness.
Their tested processes and programs address the key issues for those employees who have a chronic condition. The focus is on the small minority of people (20%) who spend the majority of the health benefit dollar (80%). They advocate that hospitals manage their benefit plan and the people in it, just as they manage the patient care.
The company provides the administrative tools to monitor and evaluate, the health tools to determine priority and focus, and the evaluative tools to measure efficiency and effectiveness. Their efficiency analysis of providers gives many the first real tool of comparative performance in the community.
For hospitals, the strategy is simple – model the improvements and savings in your organization and then provide it to other organizations in that market.
Success factors are: 1. Commitment by the hospital to manage and lead 2. Focus on community health 3. Majority of employees in self insured plans 4. Providers willing and able to manage to quality 5. Desire to save money in the health benefit plan