It’s all about the data, even in a private exchange.

November 13, 2015 Scott Rabin

Progressive employers demand data for strategic benefits planning. It’s important, if not essential, to ensure that you have sufficient data for your human capital management initiatives, particularly those that shape health and well-being program offerings.

During the past five years, primary employer focus areas have included cost shifting, wellness and value-based benefits. However, with growing recognition that employee cost-shifting may well have reached a tipping point, current employer attention has shifted to healthcare consumerism, employee empowerment and the use of incentives. Yet despite sizeable employer investments in these approaches, substantial opportunities remain to improve appropriate consumer use of existing healthcare services.

Private exchanges represent a new and evolving approach to workforce health benefits. However, for you to be successful in this new benefits environment, you need data to inform your workforce health management strategy and tactics.

Aggregated and integrated data from a broad array of sources represents the next step toward understanding and addressing the factors that contribute to poor compliance with evidence-based care. At a minimum, data sources should include medical and pharmacy claims, health risk assessments, biometrics measurements and disability. At the same time, newer data sources can help to identify and address well-being and consumerism issues that detract from individual health management. These include well-being assessments, engagement surveys and the use of decision support tools.

At an aggregate or employer level, data can be used to systematically identify and address population health management priorities that reflect the unique needs of each employer’s workforce and their families. And on an individual level, data can be used to provide risk status-prioritized outreach with customized messaging, steering individuals toward available and appropriate resources.

Core to the RightOpt mission of improving people’s lives, our private exchange provides access to a comprehensive data platform, along with strategic analytic oversight to generate meaningful, business-relevant information. We also help you understand, in measurable terms, the value that your investments in workforce health are yielding. This integrated, data-driven approach directly supports your ability to achieve your health goals.

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All insurance policies are underwritten and issued by various third party insurance companies, for which Buck Consultants, LLC (registered in certain states as Buck Insurance Services, LLC), a licensed insurance agency, could act as an appointed producer, subject to applicable terms

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