HealthInsight Delivers Innovative
Value-Based Technology and Services to
Health Insurers, Third-Party
Administrators and Employers
Tue Sep 15, 2009 6:00am EDT
New Platform Proven to Reduce Health Care Costs Through Preventive and Condition-Specific Health Care Management MINNEAPOLIS--(Business Wire)--
HealthInsight, provider of the only value-based health care administration platform, officially unveils a set of technology and services for health insurers, third-party administrators and employers that are proven to lower overall medical costs while improving the quality of care. The new platform will be used to determine and track health actions that are directly tied to benefit designs, which is instrumental in lowering health care costs.
HealthInsight`s proprietary technology is able to generate preventive and condition-specific health actions based on an individual`s unique health status. Designed as a completely private-labeled health care solution, HealthInsight provides both health care organizations and employers with an efficient and economical way to implement value-based benefit solutions.
“Offering value-based benefits to employees ensures individuals are rewarded for completing both preventive and condition-specific health actions,” said Martin Watson, CEO of HealthInsight. “We have seen not only that value-based solutions reduce overall medical costs by detecting illnesses before they become chronic, but also these solutions ultimately help consumers live longer and healthier lives.”
To address the challenges of health care today, the HealthInsight platform consists of three pillars:
1) Analytics
- Comprehensive population risk analysis that identifies markers for potential increases in health costs
- Recommends actions to minimize health care costs
- Uncovers the hidden costs of undiagnosed conditions
2) Administrative Services
- Provide value-based plan design administration at an affordable price
- Create plan designs tailored to meet the individual needs of every plan member
- Recalculate benefits in real-time and apply them retroactively as health actions are completed for both prescribed preventive health actions and chronic conditions
3) Adult Personal Health Record
- Captures lab results, physician and hospital services (medical claims) and prescription drug information
- Provides guidance on appropriate actions to stay healthy, including information about chronic conditions and recommendations for making life-style changes
- Present individuals with their personalized scorecard used for tracking health actions
About Value-Based Health Care
The problem with health care today is that the current system only focuses on
delivering care when treatment options are most costly and outcomes are most
limited. Value-based health care is designed to drive consumer engagement by
incenting individuals to access highly-valued preventive care, and value-based
insurance companies are able to do this by rewarding participants with richer
benefits when pre-defined health actionsare completed. Compliance examples
include:
- Completing a health questionnaire
- Participating in an annual biometric (lab) screening
- Following age, gender and condition-specific guidelines
The rewards and incentives for participating in a value-based program include:
- Waiving or reducing copays, deductibles and/or coinsurance
- Reducing health insurance premiums
About HealthInsight
HealthInsight provides the only value-based benefit administration capabilities,
completely private-labeled, to health care payers and employers. A partnership
with HealthInsight allows benefit administrators the ability to offer innovative
value-based benefit solutions. By leveraging extensive data analytics and a
sophisticated team of medical professionals, HealthInsight is able to provide a
solution to health care that is proven to reduce health care costs. For more
information, please visit us at www.healthinsight.com.
