Faces of Geneia: Meet Fred Rahmanian
Fred Rahmanian is the technological visionary for Geneia's products.
October 12, 2016
Heather Lavoie, Chief Strategy Officer, Geneia
It’s easy for me to imagine what keeps human resources and benefits leaders up at night. In my nearly 20 years of working with employers, I know firsthand they are increasingly frustrated by the escalating costs of healthcare, and simultaneous decline in overall health.
I do believe there is reason to be hopeful, but first, I would like to expand on the problem.
To cite a few statistics, Kaiser Family Foundation research shows premiums for employer-sponsored health insurance increased 203 percent between 1999 and 2015, and the average annual family premium rose to $18,142 in 2016.
As you may know, Willis Towers Watson conducts an annual survey to evaluate best practices of high-performing companies and identify strategies they are using to flatten cost trends. For the first time in 2015, the firm was able to draw information from claims data to more specifically determine the net effect of specific strategies.
Willis Towers Watson found the best-performing companies are using claims information to inform decisions, develop strategies based on that claims data, and specifically measure the impact of their programs. As compared to the national average, the best performers employ these strategies anywhere from 5 to 15 percent more often.
For these strategies, best performers, on average, pay more than $2,000 less per employee for healthcare and maintain a two-year average cost trend that is 2.6 percent lower than other organizations. These savings are in aggregate, but the use of claims data to inform strategies is a critical component of the success of the best-performing companies.
These best performers understand the importance of marrying clinical information and claims, and likely advanced analytics too. Increasingly, their peer human resources and benefit leaders know this as well.
Geneia recently collaborated with the National Alliance of Healthcare Purchaser Coalitions (formerly the National Business Coalition on Health) to survey employers about their understanding and use of data and analytics to manage the quality and costs of employee healthcare.
Advanced analytics are widely understood to have an important impact on decision making, and human resources and benefits administrators express great interest in having these tools:
At Geneia, we know there is great opportunity for employers who use an advanced analytics solution that combines clinical and claims information with predictive analytics – if they then take that information and use it to employ programmatic best practices that fit the needs of their particular organization. Knowledge is power – knowledge plus action drives results.
We’ve said it before, but I will say it again. In just 20 minutes on the Theon® platform’s Care Engager® module, a Fortune 500 client of ours identified more than $500,000 in medical cost savings along with actionable information to address these cost drivers and improve employee health. To read more about this employer and learn how Geneia can help you achieve similar savings, visit: http://www2.geneia.com/EmployerCaseStudy.
Health pioneer and visionary was inspiration for @Home.
Geneia’s implementation process puts the right emphasis on process, people and technology, and is designed to help our clients and their stakeholders succeed in value-based partnerships in as few as 12 weeks.
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