THE DATA IS THE PROBLEM AND THE OPPORTUNITY
HOW IT WORKS.
Ownership and control starts with connecting disparate data silos
We start by creating a elastic relational data warehouse, which lives in an extremely secure encrypted environment on a cloud-based portal. Each client has their own database which accepts feeds from Ben Admins and Carriers. This allows data to be blended and normalized for continuous (multi-period) in-depth data analysis and lifetime storage.
FROM YOUR DATA WE
ANSWER 3 KEY QUESTIONS
We show you what’s going on inside your plan today. Clinical data tied to the financial impact to the plan
We organize data at the most basic level of healthcare analytics and then we go a step further. We show you high-level views of total block performance and drill down views at a granular level, stratifying risk to identify what each member is likely to cost the plan over the next 12 months .
Gain insights of global risk factors within a population
Identify historic patterns
Identify high-cost drivers and accelerating conditions
Define relationships at a granular level
Define major diagnostic groups/codes
Define pharmacy specialty drug costs
Access to more data, faster and with more accuracy.
BST’s cloud-based reporting platform generates customized reports quickly. Data visualizations that once required weeks to manually assemble are auto-generated in a few minutes. Customized and ad-hoc reporting provide high-level overviews down to member level granularity. Easy to use dashboards connect clinical performance with the financial drivers of the plan.
Accessible – Software/Portal access anywhere
Flexible – Ability to filter and navigate
Customizable – Views by key performance metrics/cost
Timely – Monthly data feeds/updates (24-48 hours)
Targeted – Financial, clinical trend, performance reports
Fast/Easy – Automated visualizations
Compliant – HIPAA/ERISA
Secure – SOCII/SAAE16
Adaptable – Enterprise or client-level platforms
Predict risk with greater accuracy to identify trends sooner in an unbiased, transparent and cost-effective way.
We predict risk more accurately and much faster than traditional methods. We construct forecast models on actual data to uncover more insights of current plan costs and future clinical risks – unprecedented detail that can be used to maintain a competitive benefits program while controlling costs.
Analysis of medical & Rx claims using actuarial science
Predict future trend for this disease state and the future cost
Uncover future clinical risks
Improve accuracy and reliability of risk projections
Improve the quality of care and reduce healthplan cost
RISK OPTIMIZATION TREES SHOW YOU WHAT AND HOW
Only BST shows you how risk is predicted.
BST’s proprietary Risk Optimization Trees is changing the way risk is scored.
PREDICTIVE ANALYSIS THAT IS
10% TO 15% MORE ACCURATE
THAN TRADITIONAL METHODS ALONE.
Unbiased, evidence-based information
that prescribes actions to improve the plan
Modern data analytics can tell you where you’ve been and where you are headed, but they fall short in their ability to provide actionable recommendations specific to your goals. Until now.
Health Plan Optimization –
Not the best of a few plan options, the best of billions.
The powerful and unique feature of the BST platform lies in its ability to provide prescriptive recommendations. BST's Health Plan Optimizer designs the optimal health plan configuration while obeying the overall premium, business quality and other plan owner specified criteria. Coupled with faster and more accurate predictive risk scoring the Optimizer can quickly run “What If” scenarios – tethered to the overall plan design and leveraging internal or third party data – to deliver a customized, actionable plan.
Our advanced algorithms enable the system to consider millions of scenarios, prescribing the optimal plan design with specific actions to take. In a matter of minutes, the Optimizer generates a pro-forma financial statement to project next year's performance. BST delivers timely, customized business intelligence, tailored to the specific healthcare needs of the group, empowers decision makers to maximize every healthcare dollar.
THE POWER OF WHAT IF?
Explore “What if” scenarios for plan configuration in minutes,
not months – designed to a plan, a population or both.
Coupled with faster and more accurate predictive risk scoring the Optimizer can quickly run “What If” scenarios for plan configuration; premium equivalence rates, stop loss deductibles modeled around an employer’s budget constraint, and supplemental products. All tethered to the overall plan design and leveraging internal or third-party data.
BST’s Optimizer analyzes the criteria that you set; your population, your target spend, the providers you want to use, the benefit options... We calculate millions of potential scenarios in minutes to identify the impact of plan variables, eliminate misaligned incentive influencers, and optimize risk under uncertainty – to deliver a customized, actionable plan.
AN OPTIMIZED PLAN
IS AN INTELLIGENT PLAN
BST applies its proprietary Robust Optimization algorithm to combine employers’ existing healthcare with predictive modeling that stratifies risk and identifies cost drivers – producing key insights for benefit administrator strategies. The system recommends medical plan designs tailored to the specific healthcare needs of the employee population, taking into account future predictions about population health and financial shifts to contain costs and maintain quality of care and benefit levels.
Products and services
"We asked plan sponsors a simple question; “How much do you want to spend on your employee health plan next year?” Most responded; “No one has ever asked me that before!” We believe that it’s a question that should be asked. And we can help them shape the answer.”
- Marc D. Kutter
Director of Sales