Turning Health Care Data into Bottom-Line Savings
One of the keys to cutting your company’s health care costs is to understand its claims. Frost’s Health Care Data and Reporting tools can help you better identify any potential savings with online benchmarking and analytics.
How does it work?
Our online tools will show you how your company’s health care claims compare to industry and regional norms, and enable you to dig deep into your real claims data.
The types of analyses, data and reporting include:
Management Report—Benchmarks data against national norms and compares by region, industry and company size using:
- Total health plan costs
- Inpatient and outpatient claims
- Emergency room and office visit utilization and cost
- Claims by major diagnostic categories
Prescription Management Report—Assesses costs and problem areas with an analysis of categories such as:
- Paid summary
- Total member cost share
- Mail service utilization
- Brand name vs. generic utilization
Multi-Project Reporting—Allows comparison of up to four different data sets for strategic long-term planning and evaluation.
Ad Hoc Analysis—Helps isolate specific cost drivers to help manage high health care costs. Some of the questions about health and Rx plans answered are:
- Who is going to the doctor? Are they using in-network or out-of-network?
- Who is using the ER most, and can you better control their usage?
- Who is using mail-order vs. retail pharmacy? What is the cost differential?
- How often are generics being used when available?
Alternative Plan Modeling—Allows employers to “test drive” potential changes to plan design to see the impact of a change before making any decisions. That way, you can try out different copay or deductible amounts or model an entirely new plan such as an HSA style plan.
Disease Profiler—Shows average costs of claims by disease category to help predict future costs and budget. This enables you to negotiate more accurate rates with stop-loss carriers as well as design and implement a disease management program.
To find out how Frost can help your business, call (866) 227-2099 or request a call or email.