The Business Group on Health Implements Strategy To Create A Regional Employee Benefits Benchmark
LANCASTER, Pa., Oct. 21, 2016 /PRNewswire/ -- The Lancaster Chamber of Commerce affiliate, the Business Group on Health (BGH) today announced that it is launching a new, region-wide strategy to provide employers with an unprecedented level of transparency through the aggregation of their members' employee benefits data. The goal of this initiative is to provide employer members with a robust analytics tool that will allow them to understand the cost drivers, health issues, and regional health priorities in order to make more informed decisions for both their employees and the region.
Diane Hess, Executive Director, Business Group on Health, is pleased to announce the Business Group's partnership with Pittsburgh-based Innovu, which will provide BGH employer–members access to the Innovu CommunityLens™ solution. CommunityLens aggregates health and other benefit program data from individual member companies into a trusted digital security vault.
Once the individual member data is secured with Innovu, a de-identified copy of the data will be aggregated with other BGH members' data to create a robust set of regional benchmarks and dashboards. According to Patrick Stewart, founder & CEO of Innovu, "The CommunityLens solution establishes a level of data that C-level executives and their advisors desire to have, but have not yet found in other analytics firms. Launching this regional benchmark project with BGH will provide sweeping and comprehensive insight into the region's employee benefits trends," he said.
The CommunityLens Solution will provide:
- A statistically relevant, aggregated data set across the BGH community
- Data transparency across providers, payers, and employers
- Relevant standardized measures for the BGH community
- An understanding of the conditions that are driving costs, poor adherence rates, and/or population health issues
- Clarity of the key cost drivers and population needs
- The ability to measure the community with other comparable regions across the country
Through BGH and their respective advisors, individual employers have the option to purchase a companion tool, EmployerLens®, which allows each employer to have a deep understanding of its overall human capital data including medical, pharmacy, wellness, disability, workers' compensation, retirement, and many other forms of business risk data. In addition, EmployerLens provides deep and robust benchmarking against more than 80 million lives to compare how an employer population compares to regional and national benchmarks.
Hess said employers have been increasingly frustrated at the lack of transparency provided by their vendors regarding employee population data, as BGH members seek to make value-based purchasing decisions that ensure health plans and providers are delivering the highest quality at the most efficient cost.
Dr. Tim Shrom, Chair of the Lancaster BGH and Business Manager at Solanco School District stated, "If you believe that health care will continue to change, get more complex, and continually face cost pressures, then increasingly for employers to make better informed decisions in the health care arena, they must have better data to inform. This is about aligning and understanding both cost and quality drivers across multiple health care platforms. Through this new partnership our business/employer participant data can be integrated to provide actionable health care information that can drive more informed decisions for spending, but also deliver improved health care outcomes for employees."
According to Hess, to date there has not been an appropriate technology platform available where employers could centralize health and benefits data, provide the long-term, secure, on-demand access to their population data, or to aggregate data across employers that can provide the best-in-class cost and efficiency models the C-suite needs to make informed decisions. "Partnering with Innovu allows the BGH to bring added value to employer members and their advisors, while helping to strengthen the organization's collective voice by building credibility through data," she said.
"At the end of the day, Innovu's solution aligns with our mission to promote continuous improvement in the quality and cost of healthcare for our member companies, their employees, and dependents," said Hess.
Visit www.lcbgh.org for more information about the CommunityLens solution.
About the Business Group on Health
The Business Group on Health was founded by the business community in 1984 and is an independent, non-profit affiliate of The Lancaster Chamber of Commerce and Industry. Their mission is to promote continuous improvement in the quality and cost of healthcare for their member companies, their employees, and dependents.
About Innovu Innovu empowers employers and their benefit advisors to solve complex problems associated with optimizing quality, cost, and efficacy of healthcare and benefit programs. The company's cloud-based Innovu Horizon® solutions unlock powerful information contained in silos of benefits data, giving CEOs, CFOs, and human resources the scorecards and balance sheets needed to make data driven decisions. For more information, visit www.innovu.com.
Media Contact:Joanne Bentelerjbenteler@innovu.com412.212.7520 x714
Lancaster County Business Group on Health Contact:Diane N. Hess, Executive Directordhess@lcbgh.org 717.239.6954
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