Use Predictive and Prescriptive Analytics to Control Benefits Costs & Improve Member Health

Data analytics enables you to make informed decisions by providing actionable insight. I am going to discuss three types of analytics. While historically analytics was concentrated in descriptive analytics, recently and currently the focus is on predictive and prescriptive analytics. Do not be fooled by a vendor or carrier that claims they perform data analytics....

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A Look at the Health Conditions Driving Employer Healthcare Costs

You’re always seeking ways to keep your healthcare costs in check. One of the best ways is to understand what’s driving your costs. The International Foundation of Employee Benefits Plans (IFEBP) asked 500 employers to name the top 3 conditions driving costs (see table below). Top 10 Conditions Driving Employer Health Costs Rank Condition %...

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The Importance of Managing Health

No matter where you might fall on the health continuum, it is important to understand your health and how to manage it. You must make a conscious effort to be healthy. If you don’t, you will end up with major health issues, represented by the red box in Figure 1.   Health Management Along the...

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Employers Paying a Large Portion of Opioid Crisis Costs

Employers need to understand and appreciate that the opioid crisis isn’t just impacting disenfranchised and unemployed Americans. Working adults are addicted to opioids too. You need to take steps to combat the issue because it’s impacting more than just your healthcare costs. Take a look at the 2016 numbers released by the Kaiser Family Foundation:...

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Employers Focus on Mental Health to Improve Bottom Line

It seems to be a good and important time to discuss the effects mental health has on the workplace and the new trends in getting help. According to the National Institute of Mental Health, 26% of American adults suffer from a diagnosable mental illness such as anxiety or depression every year. Unfortunately, more than half...

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