8 tips to help brokers turn health data into a competitive edge
December 8, 2014 11:45 AM
[Image: Fotolia]
1. Save time and money
Brokers spend up to 40 hours per client reviewing carrier reports or detailed analysis from well-known analytics firms, so opt for reporting that gets you ready to work with your clients in minutes, not days. When you do need a detailed review with a report vendor, make sure they dont charge $4 per employee just to do a data review. [Image: Fotolia]
2. Forget data, get insights
Your analytics reporting should be easy to use by including a simple snapshot of specific insights and findings. Dont confuse lots of pages with useful data. If you have a glut of information in your health reports, opportunities end up being too difficult to find. [Image: Fotolia]
3. You need it on-demand
Look for reporting products that have regular, quarterly refresh timelines and provide on-demand access. Your firm is investing a lot of money in data insights to wow your clients and make sure renewal is a sure thing, so dont settle for reports that take too long. [Image: Fotolia]
4. Everything in one place
Theres no reason to get a fragmented view of your clients health utilization and wellness. Real insights are found by looking at the entire population in one easy to understand view. [Image: Fotolia]
5. Take control
Relying on carriers for reporting? What happens when you or your client want to look for a new carrier? Dont feel stuck. Use a reporting product that combines your data and gives you the freedom and leverage you need to shop for carriers during renewal season. [Image: Fotolia]
6. Actionable only, please
If you are going to pay for health reporting, it should empower your firms team to make progress and take action. You need to be responsive for your customers by taking action on the insights uncovered. [Image: Fotolia]
7. Built-in clinical view
Make sure that you can get questions on data or the details of particular reports answered as a part of the base cost of any reporting package. Or better yet, find reporting thats easy enough to understand that you dont need that type of review in the first place. When you look for health claims reporting for your clients, make sure you get some built-in support that wont cost you an arm and a leg. [Image: Fotolia]
8. Avoid hidden costs
Make sure your reporting company will transfer the list of individuals to your outreach, wellness, or disease management vendor without an extra charge. One of the best ways to avoid hidden costs is to run through a few scenarios with your health reporting vendor to find out when and why they charge extra. Get as much included in your base service contract as possible. [Image: Fotolia]
