BETHESDA, MD. (July 28) -- Cloud computing is revolutionizing the way that private-sector interests are managing and delivering their healthcare benefits, according to several experts who spoke during a webcast hosted yesterday by the Healthcare Performance Management Institute.
"In the employee benefits arena, cloud computing is now more than a promise," said George Pantos, Executive Director of the HPM Institute. "It's helping create a new business model as companies abandon their own more expensive in-house platforms and turn to this new computing method in order to provide better care at lower cost."
Cindy LaQuatra, a senior consultant at Benefits Resource Group in Independence, Ohio, spoke at the webcast as well. "The days of managing your group health plan by making plan design changes and shifting health costs to employees are over," said LaQuatra. "New technology can help employers save money while still providing comprehensive benefit programs to employees. Firms manage their liability coverage and workers' compensation very well. They must be proactive and do the same with their health plans."
The webcast also surveyed audience members on how they use technology within their organizations to manage health costs. Fifty-five percent of participants believed that their firms used analytics to manage their health benefits before risks surfaced. Sixty percent stated that their companies were able to aggregate healthcare data from multiple sources to identify risk, reduce costs, and improve health outcomes.
LaQuatra pointed out that although many insurance carriers claim to utilize predictive modeling and health coaching, they have lower engagement rates with employees and limited reporting capabilities. "In my experience, employers working with trusted, expert third parties are far more effective at leveraging healthcare data to cut costs and improve outcomes.
For a replay of the webcast, please visit: http://bit.ly/oo5GFX.