Large employers are utilizing claims data technology to optimize plan value and performance
Charleston, S.C. – May 14, 2015 – Benefitfocus, Inc. (NASDAQ: BNFT), a leading provider of cloud-based benefits software solutions, announced today that The GEO Group, Inc. (NYSE: GEO) selected BENEFITFOCUS® Advanced Analytics to provide actionable healthcare data insights that can impact plan design. GEO has managed its employee benefits administration on BENEFITFOCUS® Marketplace since 2013 and will now have new tools to quickly see and report on its health plan costs, enrollment and utilization as well as employee wellness trends via the platform’s data analytics solution.
GEO is the world’s leading provider of correctional, detention and community reentry services with approximately 20,000 employees around the globe. With a large and diverse workforce focused on everything from facility design to correctional training programs to monitoring technology, GEO has been advancing its HR operations to provide an optimized employee benefits program.
“GEO is committed to the well-being of our employees and their families and will be using Benefitfocus Analytics to target leading edge trends in health, wellness, pharmacy and medical benefit utilization for employees, as measured against Johns Hopkins Advanced Clinical Group Systems,” said Senior Vice President for Human Resources, Stephen V. Fuller.
Core & Advanced Analytics was recently announced at Benefitfocus’ One Place conference and provides benefits administrators with convenient access to data that can drive strategies for cost control, compliance management and employee engagement. The system features data dashboards that provide snapshots of real-time information including health plan cost, enrollment and utilization along with trend data to help administrators determine actions necessary to improve plans and workforce health.
The system also integrates medical claims and prescription data from multiple sources for use in the BENEFITFOCUS® Plan Shopping App, so employees can compare plan costs based on their historical health data and make informed decisions on what benefits are right for them and their families.
“Harnessing the power of data can really amplify benefit performance,” said Benefitfocus CEO Shawn Jenkins. “We are excited to support GEO with an elegant solution that aggregates complex data from multiple sources and distills it into information that will help them build smarter plans and ensure that their employees are getting the most from their benefits.”
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