Employers/Plan Sponsors

Definition:  A plan sponsor is a designated party, usually a company or employer, that sets up a healthcare or retirement plan, such as a 401(k), for the benefit of the organization's employees.

Employers with self-insured health plans are challenged with managing risk in a highly complex environment.  Healthcare costs are often an employer’s second largest expense behind payroll.  And while they bear most of those costs, plan sponsors often find themselves the least informed of what’s driving their healthcare spend and more importantly, what can be done to better manage it.

BST works with employers and their trusted advisors using advanced data management tools to maximize every dollar allocated for healthcare. 

It all starts with data, which if properly managed can be one of an employer’s greatest assets.  No longer do employers have to rely entirely on third-party risk management services to ‘see inside their plans’.  The visibility that a BST solution provides empowers employers and plan sponsors,  making the self-insured health plan option a more controlled and predictable choice.


Manage and control one of their greatest assets  
Provide visibility around plan performance with monthly automated detailed reports
  • BST provides a process to collect disparate data that has a story to tell. 

  • We look at more data, more often and with more granularity to draw actionable insights and Business Intelligence that employers can apply to control the quality and cost of their healthcare spend.

  • Not only does BST aggregate and warehouse all relevant plan data, we provide easy to use toolsets for mining it.

  • BST provides complete automated financial and clinical reporting packages, updated monthly.

  • We provide high-level overviews and drill down detail – a 360 degree view overall health plan with data blending of med, Rx, wellness, etc. 

  • BST’s secure, web-based platform enables owners to gain answers quickly with a powerful ad hoc reporting tool that can be applied to explore specific areas of their data.

Understand what is driving costs, and more importantly what to do about it…
  • BST applies modern data science methods utilizing actual claims data to forecast future 12-month cost distribution. Risk scoring is applied to each member and the aggregate population.

  • BST helps plan sponsors better understand their risk, using actual claims data, to evaluate the true risk for an employee population.

  • Plan Optimization:  Advanced software considers the employer's budget, financial and quality goals, and the population risk to design next year's health plans and premiums. BST’s proprietary Optimizer generates a pro-forma financial statement to project next year's performance.


BST Data Warehouse

BST gives plan sponsors unprecedented access and visibility of all relevant plan data.  Employers have access to their data 24/7 where insights and actionable intelligence are generated through BST’s rich data mining toolsets. Data is refreshed monthly where it can be mined and evaluated.

BST enables Employers to:

  • Access and analyze their plan data immediately.

  • Aggregate all relevant plan data for immediate or long-term use.

  • Securely store and access their own data.

  • Hold vendor’s accountable for effectiveness of results.

  • Normalized for continuous in-depth data analysis.

  • Multi-period/lifetime storage/data blending.

BST Descriptive Analytics

BST applies advanced analytics, machine learning and optimization techniques to identify lag measures, provides high-level views of total block performance and enables drill down views of individuals by key metrics. We stratify risk, evaluate at a granular level and identify a health plan’s high-cost drivers.

BST enables Employers to:

  • Identify financial drivers of next year’s plan in an efficient  automated, unbiased, transparent and cost-effective way.

  • Identify the right plan and level by group.

  • Obey the overall premium, business quality and tier movement constraints to efficiently and appropriately place each group into the best risk allocation tier.

BST Predictive Analytics

BST provides insights on global risk factors within a population by identifying high-cost drivers, historic patterns and relationships at a granular level – throughout the plan year. We deliver actionable business intelligence through customized financial and clinical reports (robust enterprise or client-level) that provide customized views by key metrics of performance and cost.

BST enables Employers to:

  • Process large data sets quickly

  • Uncover insight on emerging risk throughout the year

  • Better advise and hold vendor partners accountable

  • Unbiased, transparent and cost-effective

  • Meets HIPAA/ERISA compliance standards

  • Be accessible anywhere through a secure (SOCII/SAAE16) cloud-based platform.


BST Prescriptive Analytics

BST considers millions of scenarios, arrives at optimal plan design and prescribes specific actions, while factoring specific member needs and respecting the budgetary constraints and goals of the employer.


BST enables Employers to:

  • Apply advanced analytics and optimization techniques to identify financial drivers of next year’s plan in an efficient, automated unbiased, transparent and cost-effective way to inform future plan design (could include supplemental products)

  • Gain confidence to make smart health-plan decisions with evidence-based support.