MyHealthGuide Source: BeniComp, 4/30/2020
BeniComp Health Solutions announces the launch of IncentiCare. This self-funded product changes the way employers and their members utilize health insurance by controlling not only cost, but the underlying cause of expenses.
“Using data and technology to identify risks and opportunities early, we can prevent and reverse the chronic conditions that make up over 75% of healthcare spending.” Said Kieran Pittman, BeniComp’s Director of Strategic Growth. “Everyone was going around trying to offer employers the best discounts and price negotiations, but no one was looking at what was causing claims in the first place. That’s where BeniComp found it’s differentiator.”
With outcome-based, deductible incentives, BeniComp motivates 96% participation in annual health screenings which includes a full chem-17 blood screening. With 96% of a population's blood data and 100% of their claims data, this innovative TPA has found a niche in identifying the underlying health risks in a population and empowering at risk individuals with data, tools, and advocacy so they can take control of their health.
“Data is essential in determining a health strategy for a population. Health insurance is not a one-size-fits-all blanket solution. We really have to understand what is going on inside of a population to be able to offer the best cost and cause containment solutions,” explains Pittman.
BeniComp’s innovative approach to self-funding bridges the gap between historic and modern while looking toward the future. Established in 1962, this 50 state TPA brings together a team of insurance professionals, health professionals, and software developers to custom build a state-of-the-art tech platform, Pulse, used to manage the health and insurance plan of entire populations.
Pulse’s open-architecture style allows all cost-containment vendors to plug-and-play based on a population's needs and includes all of the features a TPA, broker, employer, or participant would need to manage plans, payments, data reports, and more.
“IncentiCare is the best kept secret in the industry,” Pittman remarks. “We want employers to know that they don’t have to settle with high-cost, low-value plans. There are solutions out there that can improve health plans from the inside out by helping employees sustain healthy lifestyles and customizing cost savings strategies. In this way, employers will save not only 25-35% year one, but will continue to see their expenses decrease year over year as their health plan grows stronger and stronger in its ability to predict and prevent financial and health risks.”