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Financial & Data Analytics

We take a unique and cutting-edge approach to employee benefits analytics.

AssuredPartners firmly believes that financial data analysis is the most critical component to designing, implementing, and managing a high-performing benefits program. We have made significant investments in our infrastructure to be an industry leader in healthcare analytics for the benefit of our clients.

We take a unique and cutting-edge approach to employee benefits analytics. We securely store client claims data within a data warehouse and combine the capabilities of that nationally recognized medical claims data warehouse with our own proprietary visualizations and algorithms to produce best in class, actionable, data-driven insights. Our team of financial and data consultants continually mines the data for retrospective, ongoing, and prospective components of risk that can be addressed by the multitude of strategies available to our clients. We are able to analyze, compile, and report on medical/pharmacy claims data and utilization metrics with the ultimate goal of effectively analyzing healthcare outcomes and spending and appropriately managing clinical and financial risks.

As much as we believe that standard reporting provides valuable insight to our clients, we believe even more that having regular meetings to discuss utilization trends, clinical trends, behavioral trends, cost trends, etc. provides additional value. Our analysts are uniquely qualified to meet with our clients and drill into the client’s own data in real-time, leading to in-depth conversations about the most pressing drivers and risks within their plans. In doing so, it allows us and our clients to identify areas that need to be addressed and collaborate on strategies to implement all at once. Additionally, it gives our financial and data consultants insight into what components of the plan, what population cohorts, etc. we need to monitor to validate the efficacy and impacts of the strategies.

We use data analytic, financial, and actuarial tools to assist our clients in identifying opportunities to enhance benefit programs while mitigating risk. These tools identify disease states for developing targeted disease management and wellness initiatives, as well as large case management, and telemedicine opportunities. They have also enabled us to create proprietary solutions, including the AssuredExcellence bundled payment program.

AssuredPartners Financial & Data Analytics Services

  • Monthly Dashboard Report, to include paid claims by month and plan, a summary of large claims activity, and preliminary renewal projections
  • Tools to help assess current funding arrangements
  • Analytics through our advanced claims data warehouse, which includes detailed information about population cost and utilization, to assist in creating solutions for managing and reducing claims costs
  • Clinical and financial reports at the member, population, and cohort level; combined with predictive modeling capability to project future plan costs based on the specific disease burdens which exist in the population.
  • Use analytical reports as the foundation for making educated decisions regarding plan design, wellness initiatives, and communication campaigns
  • Care gap analysis

On a quarterly basis, we present a full financial and data analysis, including:

  • Summary Dashboard Report
  • Preliminary renewal projections
  • Clinical and financial reporting at the member, population and cohort level, combined with predictive modeling to project future plan costs based on specific disease burdens within the population
  • Identification of cost drivers such as Compliance Care Gaps, Major Diagnostic Category and any potential Prescription Drug opportunities
  • Benchmarking of plan performance, cost and design against peer groups by industry, geography, and employer size
  • Assessment of funding arrangements and appropriate options
  • Review of PBM, Stop Loss, Captive funding, Consortium purchasing and other opportunities

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