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How Data is Driving 2021 Benefits Strategies

Published in Fierce Healthcare
Authored by Dr. Rani Aravamudhan, HDMS

Trend math breaks down.

Health plans typically design benefit offerings by assessing patterns of utilization and cost data in previous years. Thanks to disruptor-in-chief, COVID-19, this traditional approach was rendered inadequate to say the least.

With the pandemic demanding agility, many health plans turned to flexible data analytics and infrastructures capable of generating original, actionable intelligence at a moment’s notice. Having the ability to respond rapidly to their clients’ immediate data needs, despite ongoing uncertainties, is much like having a fire truck ready to put out fires whenever and wherever they arise.

 

data analytics for health plans

Tuck and roll, health plan friends.

Health plans needed to quickly pivot business processes to align with evolving customer needs. For healthcare benefits administrator Meritain Health, the large-scale shift in the consumption of care that followed the onset of the pandemic required swift adjustments to accommodate changes in multiple areas: fluctuating sites of service and code sets and payment structures, to name a few. Hence Meritain implemented several strategic variations to their business processes.

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How Data is Driving 2021 Benefits Strategies

Meritain navigates change with flexible analytics

Data drives benefits strategies during health care transformation

Listen to how Meritain harnesses their powerful analytics to build strategic value with (and for) their clients.  Meritain ensures new plan sponsor requirements and changing member behaviors inform innovation and planning.

 

With health care transforming right before our eyes, we need timely and quality data along with a means of turning on a dime more than ever before.

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Help is on the way!

Health insurance providers play an important role in helping plan sponsors navigate complex business decisions and necessary change during uncertainty and transformation. Data can be a beacon of light, giving us facts to shape where and how to best pivot. Data uncovers the areas we can be most helpful to plan sponsors and members.

 

Learn how to develop a strong framework with the right structures in place. Roll with new waves of regulations, coverage changes and payments or anything else that comes your way.

 

Attendees will learn:

  • How data lets plan sponsors understand and quantify the need for rapid plan design changes
  • The pandemic’s effect on high-risk populations and how health insurance providers can support vulnerable members
  • How past utilization impacts next year strategies
  • How quality data ensures accurate insights

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“We have almost instantaneous access to claims data, and we can run any query at any time to prove out any theories that we might have.”

– Bob Panure

Partner at Timmaron Group

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“They’ve cracked the code of how you find, in your own claims, these human stories.”

– Leah Binder

CEO at The Leapfrog Group

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“We’re able to provide [our clients] direct access to all of their data, and a way to view it as a story as opposed to just a series of reports.”

– Shawn Shapiro,

Director of Client Analytics at Meritain Health

 

Shawn Shapiro
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Meritain

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