We believe employers face four major challenges in regard to health care-related benefits, and that accurate and insightful analysis of their data is the key to overcoming them. Our data analytics approach helps you effectively manage these challenges:
- Lack of accurate, integrated information for management to make informed decisions – BSG gives you the breadth and wide varieties of data needed to make good benefit plan decisions. We integrate and dynamically analyze the data and provide you with the information and guidance you need to create long-term benefit plan strategies and contain costs.
- Poor employee health and health literacy – Employees need accessible, accurate, and understandable information to make wise decisions about health care providers, treatment plans, prescription drugs, and managing their health. BSG identifies opportunities to improve your employees’ health and engage them via targeted communications. We create an effective, multi-layered communication plan to reach everyone. We also help assess your wellness program and culture and recommend strategies for improvement.
- Productivity and absence issues – Many worker’s compensation, disability and paid time off programs are not aligned with medical plans and overall business strategy—resulting in increased costs. BSG works closely with your vendors to integrate the data from these plans and identifies a strategy for improvements leading to cost savings.
- Health Care Reform – All businesses face challenges from health care reform. We apply our understanding of health care reform, the health care industry, and measurement of health care delivery to guide you through the changes.
The Analytical Life Cycle
BSG’s Analytical Life Cycle shows in detail how we collect and transform your data into useful information.
Data is collected as loosely related facts. When comparisons (benchmarks) are established, the data becomes information. We use our expertise to interpret the information—the result is powerful knowledge. This knowledge is applied, evaluated and reevaluated over many cycles and helps you best achieve the goals for your benefit program.
BSG Analytical Tools
- HC Metrics is an actuarial tool developed by BSG in partnership with OptumInsight™. HC Metrics looks at your big-picture cost drivers: industry, geography, demographics, plan design, plan operations, employee contributions, plan turnover, participation levels, wellness initiatives, workplace policies and disease management programs. It benchmarks each of these drivers against comparable employers and creates an index to identify your position in the market and the financial impact of each cost driver
- Online Analytical Processing (OLAP Data Cubes) is a sophisticated claims analysis system that allows us to drill down to your micro cost drivers, detailed claims data, and wellness and condition management results.
- Three Year Experience Review (TYER) is a three-year longitudinal perspective of claims, enrollment, age/sex distribution, major diagnostic claim summary, large claims summary and analysis, and per member cost comparison. When prior claims data is provided to us, we can even present a TYER for new clients.
- Chronic Conditions Report is a health-status tracking tool that identifies participants with chronic conditions.
- Benchmarking is a tool that compares actual service utilization levels to expected, adjusted for outliers and demographics.
In addition to these tools, BSG has specialized methods for focused analysis of contributions, wellness program strategies, network optimization, and health care reform/Cadillac Tax.