Actionable Data – You don’t need more data, you need direction
Risk Management – identify saving opportunities with Biometric Risk, Chronic Gaps in Care, Comorbid Members, High Risk Members and Preventive Care
Care Efficiency – focus on the right care at the right time. Insights such as Avoidable ER and Avoidable Admissions
As part of our Innovu data analytics platform, we also perform benchmarking studies based on the criteria described below.
Innovu provides benchmarks for medical, pharmacy, plan design and employers fixed costs. Additional detail on each benchmark is captured below:
Innovu’s regional and national benchmarks contain over 2 million lives and are updated monthly with each new carrier data load. In addition to these lives, Innovu purchases Truven’s MarketScan data annually that extends our benchmarking capabilities to 73 million additional lives, providing a broad reach across the country for claims, financials, and plan design information.
Innovu utilizes the MediSpan database for pharmacy benchmarking. This database provides benchmarks for average wholesale pricing, generic dispensing rates by medication and the ability to roll the financials to a group or book of business cohort.
During the onboarding process, Innovu gathers plan design and fixed costs for each client. This data combined with Truven’s data allows advisors to benchmark a client against those of similar demographics: similar size, geography, and industry. Analyses include copays, coinsurance, deductibles, administrative fees and stop loss rates.
Innovu’s SmartCohort® solution can be run with very little data as a “leading” analysis. Innovu uses a Monte Carlo simulation model to recreate the employer 1,000 times to compare the group’s PMPM against the SmartCohort, Regional and National Benchmarks.
We understand the importance of having attractive executive benefits for finding and retaining top talent for your business. We are here to provide the guidance and expertise to develop the best executive benefit solutions to fit your company and needs to help you grow and be successful.
Our team of retirement professionals are dedicated to the design of innovative and company sponsored plans of real value. Some of the many aspects of what we provide our clients include:
Having a solid financial services plan for your employees and key executives is vital for attracting new talent and retaining the staff you already have.
One Huntington Quadrangle
Suite 4N10
Melville, NY 11747
Phone: (631) 465.0606
Email: in**@*************up.com
