BENEFITFOCUS® Benefit Informatics is the data analytics component of the Benefitfocus Portfolio of Products & Services. Benefit Informatics integrates hundreds of health data sources into a single data warehouse and provides online data analytics applications for employers, insurance carriers and all stakeholders in employee benefits to analyze, plan and monitor health costs and risks.
With claims and utilization data coming from multiple suppliers, it is difficult to draw meaningful conclusions or identify trends without the right tools. Benefit Informatics loads, cleanses, maps, validates and verifies volumes of data from more than 500 health data exchanges, transforming health data into actionable information to enable informed decision-making and effective planning.
Benefit Informatics is an HR data analytics platform that provides the tools necessary to analyze procedure, diagnosis, provider, pharmacy and other details at the book of business, group and individual level. Integrated Advanced Clinical Analysis features clinical predictive modeling using the Johns Hopkins ACG® System and HEDIS® to identify gaps in care and create employee health scorecards, allowing employers to forecast future risk and costs for both the plan and individual.
Benefit Informatics features integrated Plan Modeling and Forecasting that allow you to test different plan designs by creating “what if” scenarios. Change co-pay, deductibles, benefits, inflation, member populations and other variables to compare these changes with actual claims data and produce valid model results. Once a plan model has been created, making changes to the plan takes only minutes.
As part of the Benefit Informatics suite of data analytics tools, the Preventive Screenings Summary is a sophisticated reporting feature that facilitates compliance with the Affordable Care Act (ACA) provision requiring employer-sponsored health plans to cover the full cost of certain preventive screenings. Employers can leverage these advanced reporting capabilities to monitor participation, track the financial impact of preventive screenings and predict future healthcare expenditures.
With Benefit Informatics, plan information can be shared automatically across departments as well as externally with disease management, stop-loss/reinsurance, wellness vendors and other benefit stakeholders. Advanced reporting functionality allows employers to:
- Schedule select reports or customize report packages to run automatically at set times.
- Report output and securely distribute to other stakeholders and outside consultants
- Deliver emails with a hyperlink to access and view the report