FSAI lowers healthcare cost trend across Verisk Health's book of business by 5%

Verisk Health, Inc., announced today that First Service Administrators, Inc. (FSAI) successfully lowered the healthcare cost trend across its book of business by 5 percent and reduced emergency room use by 10 percent by implementing innovative campaigns based on Verisk Health’s Explorer solution. Verisk Health is a global leader in identifying, analyzing, and predicting healthcare risk. FSAI is a premier third-party benefits and risk management administrator for hospitals, healthcare systems, and public entities.

“The secret to improving healthcare is not spending more, but spending wisely”

“The secret to improving healthcare is not spending more, but spending wisely,” said Kathleen Sullivan, R.D., executive vice president of business solutions for FSAI. “Explorer allows us to examine every level of a client’s healthcare plan to identify wasteful spending on inefficient or ineffective programs and reinvest that money in areas that maximize access to quality care.”

FSAI selected Explorer, a clinical analytics software solution, to help change the face of healthcare for its clients. Using Explorer, FSAI is able to provide actionable data so that preemptive care can be administered before the onset of serious disease or before an employee’s disease state worsens. Some of the campaigns the company implemented include wellness and compliance education, drug cost analyses, member compliance initiatives, and incentive-based benefit design.

FSAI’s initiatives resulted in cost savings for many of its clients, including:

• reduced in-patient admissions by 10 percent
• reduced cost trends of 5 percent over 24 months of incurred claims
• lowered emergency room visits
• increased mammogram compliance from 46 to 72 percent

“To change the healthcare playing field, all the available data sources must be transformed into one actionable view,” said Nathan Gunn, M.D., chief medical officer at Verisk Health. “FSAI has used the Explorer solution to allow its clients to clearly identify specific areas where its interventions will have the biggest financial and clinical impact.”