Content also featured on HR.com
Today’s employers don’t lack healthcare data. They lack direction. And now, more than ever, employers need actionable insights to spend less time wading through data, and more time acting. Additionally, many organizations’ leadership are facing rising healthcare costs, inefficient reporting, and the continuous challenge of focusing resources. Leaders need to be able to make smart budgeting decisions and build a case for continued investment in health management programs. But in order to solve this modern-day problem, employers need a modern-day solution.
Health Intelligence helps employers understand what works and what doesn’t. Through a combination of data science and data analytics, Health Intelligence is proving to be the smarter solution for measuring the impact of employers’ investment by putting their data to work for them and their people.
The market for talented employees grows more competitive as employers fight to attract and retain top talent. In today’s workplace, attracting top talent is more than just offering competitive salaries. Employers need competitive compensation offerings and health solutions to make sure they secure the best employees possible. Health Intelligence is helping employers connect systems that make benefits easier to access and target the health programs necessary for attracting, and retaining, today’s top talent.
Modern technology has augmented the need for advanced analytical skills, enabling intelligence to be adopted by organizations of all sizes. Innovative health solutions, like Health Intelligence, are giving employers the ability to efficiently access data and information. And by leveraging smart data everyday people – not just database wizards – are able to uncover key insights and, most importantly, take action.
Healthcare Analytics is generally limited to dashboards. Health Intelligence goes beyond healthcare analytics and arms employers with the insight they need to make data-driven decisions. Through custom reporting and quick, easy-to-find answers to common questions, Health Intelligence does the heavy lifting for employers. It can automatically identify members within employee populations who are at risk of developing health conditions. By highlighting potential at-risk employees, employers are equipped with actionable tools including disease management resources and risk mitigation strategies. Health Intelligence is empowering employers to uncover high-value areas to focus resources and prevent disease with data.
Leading the evolution from health analytics to Health Intelligence, is Springbuk’s co-founder and CEO, Rod Reasen. Rod is no stranger to corporate health. Prior to launching Springbuk, he founded and scaled a benefits consulting firm into one of the largest in the midwest. And, in 2009, through a launched partnership to gain an understanding of what was working in corporate health, the awards program, “Healthiest Employer of Indiana” emerged. With a front-seat to employer wellness, Rod identified a common thread: employers lacked the information to make (and measure) key decisions in the health of their population. As the awards program continued to grow, Rod embarked on a mission to build an industry-leading Heath Intelligence solution.
Q: How have you seen employer pain points shift or change since founding Springbuk?
Rod Reasen: The change in employer pain points is primarily due to the steady increase of yearly healthcare spend. They’re struggling to contain plan costs and predict next year’s spend. It’s gotten to the point where employers are worried about the affordability of healthcare for their employees. We saw high deductible plans gain popularity as employers thought, ‘If we give consumers some skin in the game, it’ll change and solve everything.’ But as deductibles continue to increase faster than wages, everyone in the health ecosystem is left frustrated and employers fitting more and more of the bill.
Q: What trends in the insurance brokerage industry have changed since you started Springbuk? How has this impacted the needs of consultants?
Rod Reasen: The biggest trend: information. We’ve seen the need for data warehousing expand into a need for data analytics. And in turn, moving analytics from nice-to-have, to a need-to-have category. But in order to improve health, analytics is no longer enough. Brokers have seen that without being able to put the data in action with confidence, they’re putting themselves in jeopardy. Our Health Intelligence platform is not only providing information, but helping consultants and employers uncover the specific steps necessary to decrease costs and improve outcomes of their clients’ populations.
Q: Have any changes in the needs of employers and consultants influenced new additions to the Springbuk platform?
Rod Reasen: From the journey of data warehousing, to analytics, to Health Intelligence – our platform has gotten smarter. After seeing employers have data, but not be able to use it, we knew there had to be a smarter solution. Our platform has morphed into providing consultants and employers with the information they need at their fingertips to forecast disease and uncover specific areas to take action. Health Intelligence is eliminating busywork, like manual reporting, to free up our users’ resources so they can focus on what matters most: driving lasting improvements in the health of their populations.