Deerwalk, Inc., an innovative population health management, data management, and healthcare analytics software company has partnered with Claros Analytics, an industry leader in developing software applications for the pricing and analysis of health care plans, to bring customers a new tool for modeling benefit plan design. The “Plan Design” module is available with the latest release of Plan Analytics, Deerwalk’s interoperable healthcare reporting and analytics application.
This new tool will inform stakeholder decisions by allowing them to run “what if’ scenarios to evaluate changes to plan design, calculating the most likely cost and cost-sharing outcomes based on actuarial models built and maintained by Claros Analytics. Proposed plan changes can be compared with a hypothetical “current state,” or existing plan design for a population. When analyzing populations for which data is already available in Deerwalk Plan Analytics, demographics can be loaded directly from the data lake. This provides a shortcut for modeling plan design changes on existing groups by quickly populating the demographic values based on the selected population.
In addition to a group’s demographic information, various elements can be input into a proposed scenario, including plan parameters such as deductibles, coinsurance, out-of-pocket maximums, and medical and pharmacy copays. The results of the analysis return a high-level financial impact summary (anticipated net impact), visual charts showing a side-by-side comparison of the current plan versus the proposed scenario, and a table that breaks down the underlying financial components.
Claros Analytics’ Chief Executive Officer Todd Owen said, “The opportunity to collaborate with Deerwalk on this project is truly exciting. This plan design capability will bring significant value for Deerwalk users.”
Deerwalk’s Chief Operating Officer Jeff Rick stated, “By combining the power of Deerwalk’s computing capabilities with consistent and actuarially sound methodology from Claros, we are excited to bring clients a tool that puts their healthcare data to work, simplifying planning and budgeting decisions.”
About Deerwalk, Inc.
Deerwalk is an innovative population health management, data management, and healthcare analytics software company based in Lexington, Massachusetts. Founded in 2010, Deerwalk is privately held with over 300 employees worldwide, including a technology campus in Kathmandu, Nepal. We partner with industry leaders responsible for making decisions for the health of a population to optimize costs and improve the quality of care. Deerwalk offers a complete population health management suite built on a foundation of data integrity that delivers reliable data insights and actionable intelligence. To learn more, visit www.deerwalk.com.
About Claros Analytics, LLC
Claros Analytics, based in Princeton, New Jersey, develops cutting edge software for employee benefits professionals who want powerful and easy to use tools that deepen their understanding and consulting capabilities for their client’s health benefits plans. Our Health Benefits Consulting Suite and Actuarial Advisor rating manual are used by consultants, brokers, TPAs, plan sponsors, actuaries, reinsurers and stop-loss carriers. To learn more, visit www.clarosanalytics.com.