Business coalition’s 10 member organizations to gain greater insight into health care spending
Charleston, S.C. – Nov. 19, 2015 – Benefitfocus, Inc. (NASDAQ: BNFT), a leading provider of cloud-based benefits management software, today announced that the MEI Employer Coalition of Southeastern Wisconsin has arranged for each of its member organizations to purchase BENEFITFOCUS® Advanced Analytics to help evaluate more effective benefits strategies and control health care spending. With easy-to-use tools that provide a variety of on-demand health care data metrics, 10 Wisconsin-based employers – representing more than 10,000 employees – will be able to better understand historical health care costs and employee benefit utilization, and help predict future costs.
“With greater understanding of where money is being spent and different patterns of utilization, the Coalition members can start to draw more meaningful conclusions about health care costs and benefit programs,” said Richard Dowdle, Managing Director for the MEI Coalition. “This insight will help them make informed decisions to drive lower costs while still offering competitive coverage to their employees.”
Along with more than 80 standard applications, custom filtering and ad hoc reporting, Coalition members will take advantage of Advanced Analytics’ Plan Modeling & Forecasting functionality to quickly and efficiently evaluate health plan design modifications. The integrated Cost Share Estimator application allows users to create “what if” plan scenarios and use aggregate employee claims history to develop a comprehensive view of future plan costs. Through the application’s user-friendly design and intuitive workflow, each employer will be able to see extensive plan design alternatives in a matter of minutes.
“As organizations continue to adapt their benefit strategy in response to the evolving health care landscape, unlocking the power of data is essential to making better decisions,” said Benefitfocus CEO Shawn Jenkins. “We’re thrilled to support MEI Coalition members with insights that can help them plan for the future and get more value from their benefit offerings.”
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