As a team of benefits strategists, we work hard every day to make sure we’re exceeding client expectations and providing the most innovative and value-generating plan designs and advisory services.
March 7, 2021
By now, I’m sure you’ve heard endless references to clinical analytics, analytics platforms, big data in healthcare … the list goes on forever.
So, what do I mean when I say smarter analytics?
Smarter analytics does three things for you:
(1) It measures the present,
(2) Anticipates the future, and
(3) Reduces avoidable costs.
Here’s the thing though, you’ve got to be able to bring your data to life.
Of course, you need to know where cost is coming from. But, equally important, you need to understand where cost is not coming from too so that you can reduce avoidable costs.
Here’s more context … Pretend for a moment, you’ve got 50 diabetics within your population. Of those 50, pretend for a moment, 25 are on care path. They’re taking care of themselves. And, of course, they’re a moderate expense to the plan.
So, if the other 25 are off-care path, isn’t that a good thing because they’re not incurring expense? No … You want to intervene before they become a catastrophic claim. And, the math will tell the story … it only takes a few of these situations to blow up your plan.
This is just one example of bringing your data to life. The real key to success though is clinical expertise.
It’s not just the data – but who analyzes that data and takes action – that will help you ultimately get out in front of catastrophic claims before they hit your bottom line. It’s the very reason Apex has registered nurses, a clinical pharmacist, registered dieticians, and certified health coaches on staff.
It’s these tenacious caregivers that are the real difference makers.
You can find me on LinkedIn, at apexbg.com, or give me a call at 317-341-3970.