Benefit Informatics, Inc

Forecast Costs Based on Your Data

Benefit Informatics’ Forecasting technology creates multiple plan designs using a variety of parameters for a range of healthcare benefits, including medical, pharmacy, dental and vision. These models calculate the financial impact on employer and employee costs and estimate future benefit costs using historical claims data.

Benefit Informatics has assisted in building and modifying thousands of employer-sponsored health plans. We start with data integration, provide an in-depth analysis and offer a number of plan options to meet your needs.

Because we have access to current plan information, we can analyze modifications and the impacts they have on your business immediately - not in days or weeks.

User Roles

Employers can:

  • Integrate multiple data sources
  • Identify cost drivers and trends
  • Analyze procedures, diagnoses and providers
  • Monitor plan activity, utilization and trends
  • Automate reporting to CFO, HR and others
  • Drill down from plan level to individual claims
  • Benchmark plan performance to industry standards
  • Evaluate wellness and disease management programs
  • Model plan design changes based on actual claims data

Brokers can:

  • Provide standard and specialized reporting for clients
  • Consolidate multiple clients’ data into one data warehouse
  • Compare client health plans to each other or book of business
  • Benchmark plan performance to industry standards
  • Create plan models using actual plan data

Consultants can:

  • Analyze client activity, performance and benchmarks
  • Identify cost drivers and trends
  • Create custom ad-hoc reports
  • Drill down from high level to individual claims
  • Provide access to client data at multiple levels
  • Access data that is updated as often as daily

Carriers can:

  • Access plan information immediately without IT resources
  • Integrate multiple employers, offices, regions
  • Provide employer/employer group access to analytics and reports
  • Allow users at multiple levels to access client data
  • Control access to PHI and other vital information
  • Design and build plan models quickly

See the Difference

In just a few clicks, you can show simple changes to co-payments and deductibles, or you can make more intricate updates to your plan design with the user-friendly plan modeling dashboard.

Based on actual claims data, our forecasting technology can quickly and efficiently evaluate benefit plan modifications. Employers, health plans, brokers and benefit administrators can see extensive plan design alternatives, which they can then display online, print and save to modify later.

Create Your Own Plan Models

Your model can be produced within minutes. You can access an HTML or a PDF version of your results. The model includes detailed tables, descriptions of the elements within the tables and changes to the parameters you made from the plan baseline. Your results are easy to access so that you can modify them, and they are stored for future use.

Key components of the model include:

  • Date Range - Compare year-over-year data or information for a specific period (monthly, quarterly, etc.). You can save the date range so that when you start a new plan, you can begin with your last usage dates.
  • Flexible Parameters - Change co-pays, deductibles, benefits or add/remove plan members and other elements, such as catastrophic cases.

  • Comparison Filters - Create, name and store filters, which greatly increase the model variety without having to create a whole new plan. Filters include:

    • Diagnosis Code
    • Procedure Code
    • Healthcare Provider
    • Location
    • Patient Name
    • Deductible
    • Co-pay
    • Drug Code
    • Drug Class
    • Custom Filters