Model Design Changes and Cost Using Plan Experience

HDMS ForecastSM is a sophisticated desktop benefit-modeling module. It offers employers a powerful and flexible tool for evaluating benefit plan design changes and projected cost estimation.

The model uses accepted actuarial techniques to approximate the financial implications of various benefit plan provisions.

Forecast uses a group's DART data for prior claims experience, demographic data for enrolled members, and plan design to adjust its underlying pricing assumptions.


Benefits of Forecast include:

  • Compare existing plan designs to proposed new plan designs.
  • Narrow down proposed plan design changes for further discussion with your actuarial partner.
  • View extensive plan design alternatives in minutes and model up to six scenarios side by side.
  • Leverage DART's actual claims experience and enrollment data. Claims and enrollment data already housed in DART can be loaded into the model with the click of a button.
  • Use seven pre-designed DART reports and dashboards to access claims experience and enrollment data.
  • Forecast future expenses and variables in a predictable manner.
  • Measure the impact of design changes on both the employer and employees.

Client Experience

HDMS Forecast is a key integrated benefit-modeling tool that enables us to maximize DART data. The tool is comprehensive so I can compare multiple plan design changes simultaneously. It's user-driven and allows me to easily change variables, such as plan type (including consumer-driven plans), tier structure, and co-pays. This gives me the power to estimate cost impact compared to budgetary goals. The ability to model based upon MSA data effortlessly permits me to view plan design changes for my national organization based upon the expected premium costs in different areas. This enables more informed carrier negotiations.

- HDMS Forecast Employer User

DART

Data Analysis and
Reporting Tool
Provides historical, current, and predictive views of health data for decision support


Reporting

EXECUTIVE BRIEFCASE
Top Level Reporting
Develops unique top-level views to highlight trends and relationships

ARROW
Management Reporting
Creates interpretive, graphical reports for management presentations

CATAPULT
Scheduled Reporting
Delivers key performance metrics automatically on a scheduled basis


Analysis

FORECAST
Benefit Modeling Analysis
Compares existing plans to proposed new designs

CARESHIELD
Evidence-Based Medicine Analysis
Measures plan performance against industry standards

ANALYTIC SERVICES
Offers HDMS consulting experience and expertise for data analysis and decision support