We help companies see beyond the uncertainty of the moment with predictive and prescriptive analysis that enables them to better see what is coming and know what to do about it.
The COVID-19 pandemic has created numerous challenges for employers and their employees. For employers with self-funded health plans, these challenges include some potentially large changes in expected claims for the remainder of 2020 and likely beyond. Claims are likely to increase as members seek testing and treatment for the disease at urgent care facilities, emergency rooms and inpatient hospitals. However, some claims are likely to decrease as elective procedures are put on hold or abandoned.
We have applied our predictive and prescriptive analytics to create a Cash Flow Impact Model. This tool helps employers plan for these cost changes. Nobody can predict exactly how long this pandemic will last or how many people will be affected, so we recommend employers and their consultants model several different scenarios to understand the potential range of results.