FOR IMMEDIATE RELEASE
Jan 15, 2018
Benefit Science Technologies Forms Partnership With Lucent Health/Narus Health
Jan 15, 2018 – Benefits Science Technologies announces a strategic partnership with Lucent Health, a leading healthcare risk management and administrative services company in partnership with Narus Health, a highly specialized, patient-centric care management company that improves the healthcare experience for employees and their caregivers. BST will apply its proprietary Robust Optimization to create millions of plan scenarios on billions of calculations and recommends the plan that best meets the individual company’s needs.
The BST platform significantly expands capabilities in evaluating benefits plans to choose the most cost-effective, coverage-rich combination of components. Its proprietary Health Plan Optimizer platform fills the information void employers experience when designing, maintaining, and optimizing their benefits plans.
According to BST CEO Stephen Sofoul, “Our capabilities extend beyond big data analytics, providing monthly analysis of high cost drivers and of risk, specific to the member level. The program reports the impact of specialty drugs inside and outside of the network and recommends specific actions about what needs to be done to meet the unique criteria set by the plan administrator.”
“BST empowers us to advise with accuracy based on better, more current data. It allows us to help employers preemptively navigate changing benefits conditions and measure the results” says Lucent Health CEO Brett Rodewald.
Narus Health CEO Michael Burcham adds, “The partnership with BST expands our ability to help self-insured employers improve quality of care for plan members while empowering decision-makers to curb unnecessary expenses and maximize every healthcare dollar through access to timely data and better decision support tools.
Sofoul, Burcham and Rodewald quickly saw the opportunity of a strategic partnership between their firms. The partnership brings to market a completely new style of data transparency for employers, daily optimization of data and analytics, and concierge-level care management services for their employees.
BST’s Health Plan Optimizer adds a powerful and unique capability; prescriptive recommendations; the ability to design the optimal health plan configuration while obeying the overall premium, business quality, and other plan owner specified criteria. This unprecedented visibility and control of healthcare data is made possible through its elastic data warehouse, which connects disparate silos, significantly expanding the access and speed to information. BST’s advanced applied science capabilities enable consultants, brokers and employers to quickly create millions of plan scenarios, from billions of calculations to model ‘what if’ scenarios for plan configuration (designed to a plan, a population or both) including stop loss and supplemental plan design decisions. BST delivers timely, customized business intelligence, tailored to the specific healthcare needs of the group, to empower decision makers to maximize their healthcare spend.
According to CEO Stephen Sofoul, the analytics program may well be the most innovative advance in benefits planning in the last 40 years. “It begins by using all of the relevant data. In most companies, health plan data is kept in one place, prescription expenses in another, medical claims in another, and plan expenses in yet another. Although they were kept in separate silos, they all had an impact on the total program cost. We pull all of that into our data warehouse where the optimization program can deal with it.”
The result is an innovative, responsive solution that improves the connection to data, empowers optimal decisions to control costs and improves quality of care for plan members. The powerful and unique capabilities of the partnership enable optimized health plan design, and aggressive cost-containment solutions delivered through a highly personalized and flexible, mobile-optimized care management program.
About Benefits Science Technologies
Benefits Science Technologies, founded in 2012, is recognized as one of the world’s leading research and applied science teams in applying advanced analytics and Robust Optimization to the complexity of health insurance decisions. The MIT-trained team is led by a 30-year MIT professor and Co-Director of the Operations Research Center. BST combines worldclass technical knowledge and practical financial experience. BST is unique in the market in that it’s the only solution of its kind that describes what has occurred, predicts what’s likely to occur next and prescript specific action based on that data.
About Lucent Health
Lucent Health (@LucentHealth), based in Nashville, TN, empowers U.S. employers with personalized member care, vital healthcare plan performance data and reduces healthcare risks and costs while improving employee access to innovative services. Lucent offers a wide range of innovative data-driven and member-centric products. The Lucent Health family of companies consists of Capitol Administrators, Cypress Benefit Administrators and North America Administrators.
About Narus Health
Narus Health was founded in 2015 with one primary goal – to engage and deliver care support to individuals with significant medical needs. Headquartered in Nashville TN, Narus Health is a technology-enabled care management firm founded by a team of innovators with an average of 20 years' experience in healthcare. Narus fuses consumer-friendly technologies and population analytics with a unique set of patient care and clinical services.
Benefits Science Technologies
Mark Hufham, Chief Marketing Officer email@example.com