Jan 21 2010
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.”
Source: Verisk
Health, Inc.