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Making sure your employees are enrolling in the most effective plan is a top concern for all HR professionals. Not only do you want to ensure they are covered when they need it most, but you also want to ensure your money is invested in plans wisely. Our partnership with Benefit Science Technologies is your solution. Using their proprietary Robust Optimization algorithm, we take your existing healthcare data and combine it with predictive modeling to provide specific medical plan recommendations optimized to your budget and population's health. First-year savings for companies using BST’s optimized analytics range from 5 percent to 15 percent!
- BST gathers all healthcare-related data in a single, secure warehouse, breaking down traditional silos – medical claims, prescription claims, biometrics, plan data and expenses, wellness programs, and eligibility – allowing analysis of all benefit plan components.
- The system is fully accessible with monthly reports generated from data no more than two weeks old to highlight areas of concern, provide an accurate assessment of plan performance, and enhance the ability to manage plans more responsively.
- Through BST analytics, you can identify future risk, cash flows, clinical risk, disease progression, and more. This allows you to improve your understanding of what has happened, and how to predict important future trends.
- The system recommends medical plan designs tailored to the specific healthcare needs of your employee population, taking into account future predictions about population health and financial shifts to contain costs and maintain quality of care and benefit levels.