Supplemental Carriers

Supplemental carriers face changes in perception and attitude about their products and how they deliver measurable value to employers and their employees.

Medical Claims Integration is the new industry standard, and BST is leading the charge into the world of data-driven supplemental products.

As a data science company that processes millions of monthly claims, we are uniquely positioned to upgrade your company’s value proposition.

Problems BST is Solving for Supplemental Carriers

  1. Claiming Strategies
  2. Advanced Underwriting
  3. Advanced Sales Tools
Claiming Strategies

Supplemental carriers are searching for ways to leverage medical claims integration to enhance their overall value proposition. BST is an expert in medical claims integration. We help supplemental carriers down the path of policy mapping, member reminders, auto file, and auto pay.

Advanced Underwriting

Supplemental carriers need assistance with underwriting methods to improve their services. BST offers supplemental carriers a clear point of view around the risk of employer groups. Our software enables underwriters to optimize product design and pricing against true risk.

Advanced Sales Tools

Supplemental carriers are seeking ways to maximize revenue. BST has created pre-sales software, BST Ceres, that algorithmically aligns supplemental products with major medical plans and client future risk.

How We Support Supplemental Carriers

  1. Data Warehouse
  2. Quality Analytics
  3. Descriptive Analytics
  4. Predictive Analytics
  5. Prescriptive Analytics
Data Warehouse

Supplemental Carriers have access to unprecedented data quality with BST due to detailed member matching, identification, and efficacy processes. Along with data quality, BST processes data within two days of receipt, allowing Supplemental Carriers to:

  • Access and analyze organizational plan data immediately.
  • Aggregate all relevant plan data for immediate or long-term use.
  • Securely store and access organizational data.
  • Normalize continuous in-depth data analysis.
  • Maintain multi-period/lifetime storage/data blending.
Quality Analytics

BST solves data discrepancy problems, member matching inconsistencies, outdated data validations, and slow processing times. BST’s technology allows for:

  • The utilization of advanced data science to ingest data into a modern engine.
  • Comparisons among data sets to measure the quality and rationale of newly ingested data.
  • Optimal machine learning-based approaches that maximize true member matches and identify hard-to-match records.
  • The leveraging of computer power and speed to load monthly files in under an average of 3 minutes.
Descriptive Analytics

BST grants insight into global risk factors within a population by identifying high-cost drivers, historical patterns, and relationships at a granular level throughout the plan year. This enables Supplemental Carriers to:

  • Gain access to large data sets quickly. With our tools, employers will see fresh, relevant, monthly data quicker than competitors, with access to data within 30 days of us receiving it.
  • Uncover emerging risks throughout the year.
  • Make unbiased, transparent, and cost-effective decisions.
  • Access to 200+ monthly reports data through a secure cloud-based platform.
  • Access automated monthly financial & clinical reports.
Predictive Analytics

BST delivers actionable business intelligence allowing Supplemental Carriers to be competitive in the market, predict risk and underwrite that risk with higher profitability. With BST, Supplemental Carriers can:

  • Gain insight into advanced risk models that predict future high-cost claimants.
  • Implement a financial forecasting model that can identify the drivers of next year’s plan in an efficient, automated, unbiased, transparent, and cost-effective way.
Prescriptive Analytics

ST considers billions of scenarios, provides customizable plan design options and specifies action with customizable data that answers where Supplemental Carriers can find more efficiencies from:

  • Cutting-edge plan optimization tool that solves for a best plan based on budget constraints and health plan goals.
  • Smartcards recommendations, within the tool, that provide specific actions to take in order to address certain challenges in the current health plan.
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