Let’s be honest, all of us in the healthcare space know its complex and its only getting more expensive. As benefit strategists, you’re facing growing pressure to act quickly and decisively to improve employee health and better manage costs—for both employees and the bottom line.
With this increased pressure, you need to have data and analytics you can trust because the decisions you make are only as good as the information you have in front of you.
These days AI seems to be the new answer for everything, especially when it comes to driving efficiency and delivering answers faster. However, many healthcare organizations have been slower to adopt AI-driven strategies for solving the challenges of rising healthcare costs and delivering better outcomes.
But not the benefit leaders who have chosen to work with Certilytics. We’ve been using AI-driven data and predictive analytics approaches to help our customers stay ahead of the challenges they face for more than 11 years. Our team’s years of experience and deep understanding of the short comings in using only raw data and traditional retrospective analytics led us to build Benefit IQ, an end-to-end AI-powered data warehouse and predictive analytics solutions because we believed this approach was the answer for making healthcare more efficient and affordable.
As a benefits specialist myself, here are the top 3 ways I believe AI-driven data and analytic solutions can give you the edge you need and the benefit plan all employees deserve.
1. Maximize the Value of Your Data
Your data is the lifeblood of the accurate and powerful insights you can leverage to make important benefit decisions. With the use of AI-generated enrichments you can improve the value of your data – especially when it comes to being able to look into the future and creating a single source of truth.
In order to accomplish this, you need to rely on data and analytic technologies that can enrich your data.
By bringing in external or supplemental information from clinical episode grouping to social determinants of health, behavioral and financial insights you can add new dimensions to your raw data that now provides you with predictive intelligence.
2. Proactive Employee Health Management
With these enriched predictive insights your ability to anticipate future risk opens up new possibilities for managing health outcomes and costs – giving employees the opportunity to better their health now and live a better future.
You no longer have to rely on data from the past to make decisions for the future. With AI-driven, proactive business intelligence you can:
- See the future risks within your population by condition, high cost-claimants, ER overutilization, surgery risk and more.
- Improve program effectiveness because you can align your strategies based on the risks you have with a particular group of employees.
- With Certilytics AI-driven engagement probability score you can identify at the individual level which patients are most likely to respond positively to changing their behavior.
3. Measure Program ROI to Optimize Plan Design
As a strategy to control rising costs and deliver better outcomes, many benefit leaders have turned to third-party health management programs. While these solutions often come with a high price tag and the promise of impact, it’s not always clear whether they’re delivering measurable value.
Utilizing an AI-driven approach to measuring ROI for these programs, you can calculate the total realized cost savings associated with each existing program or strategy by comparing real-world spend with and without the intervention—to deliver a true ROI analysis you can trust. Now, you can optimize your health management programs to focus on those that are making a difference for employees and improving costs.
Next Steps
At a time when resources are limited, but expectations are high to deliver better outcomes while reducing costs, as a benefit leader you need every advantage you can get.
We’re seeing AI-driven solutions being the difference for our customers. If you’re interested in learning more about our solution Benefit IQ, the first and only AI-driven predictive intelligence solution available today to help employers and benefit advisors make better benefit decisions for tomorrow, please contact our team.
