Plan Modeling & Forecasting
Making plan changes is part art, part science. Benefit Informatics provides you the tools and expertise to transform this process. Online technology allows both simple changes such as co-payments and deductibles and intricate modifications of plan design. In addition to online solutions that allow you to make plan design changes in real-time, our expert benefit and healthcare analytics professionals can work with you to analyze a variety of plan models to determine the design that best meets your needs.
Plan Modeling & Forecasting Functions:
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Create models using a variety of plan considerations
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Add and remove benefits, plan members and other variables
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Calculate plan, employer and employee costs
Capabilities include:
- Forecasting future health benefit costs based upon historical utilization
- Providing flexible, user defined source data selection criteria
- Defining selection criteria including co-pay, coinsurance and contribution changes
- Allowing addition/removal of catastrophic cases
- Modeling by employee population, diagnoses and health inflation
- Analyzing variations in health plan design and insurance coverage
- Producing key output data by total cost, employer cost and employee cost
- Customizing plan model scenarios using specific group claim experience, or book of business analysis and preventable conditions and costs that might be prevented by changes in wellness behavior
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