Through Innovu’s data and platform capabilities, our team has been able to better understand the impact of prior plan design changes and articulate the potential impact of renewal decisions.
For example, the platform and data availability has increased our ability to track changes in consumer behavior following a plan design change and increase education with the end employer.
Being able to analyze our claims through the Innovu Platform has increased our ability to implement solutions that have helped our members realize savings.
For example, Innovu gave us the ability to identify a high cost drug that was costing our members millions of dollars. Through exploring cheaper alternatives with our providers, we were able to cut our costs by 50% for all of our members.
Through our 3+ year relationship with Innovu, our Business Group of Health has built an 100,000-life cohort with over 100 different employers. The data insights that we have gained through the cohort have allowed our employers to identify significant cost saving opportunities and implement change.
For example, through the Innovu aggregated data and analysis we were able to identify a site of care cost disparity for those needing infused medicines. Publishing this information to the group triggered plan design changes that led to cost savings and a site of care program to ensure those individuals are receiving high-quality cost-effective care.
Providing transparency through data is critical in order for our team to make informed decisions that will positively impact our employee’s benefit programs as well as our financial statement. During Innovu’s data reveal, it was clear to me that the Innovu platform along with the engagement team’s expertise will not only allow us to make better plan design decisions but develop techniques to identify cost-saving solutions. I am excited to have this capability available to us!