Health Cost IQ (HCIQ) exists to help self-insured entities (employers, PEOs, captives, educational consortiums, and more) save money within their health plans. Based on data collected and analyzed by HCIQ, up to 50% of private employer health costs can be categorized as wasteful or inefficient. Health Cost IQ enables its customers to mine their health plan data and uncover issues such as costly inefficiencies, waste, fraud, and abuse.
Leveraging its proprietary HealthAnalytIQ software platform, HCIQ can identify problematic utilization patterns and risk trends, forecast future healthcare costs, predict potentially high-use, high-cost members, and identify medical claims payment irregularities and pharmacy utilization inefficiencies.
Armed with these insights, customers are empowered to make strategic changes in their health plan spending and realize significant savings. Customers reclaim an average of 20-30% annually, resulting in hundreds of thousands of dollars for midsize entities to tens of millions of dollars for larger enterprises, in reduced health plan spend.
Health Cost IQ was inspired by founder Jude Odu’s doctoral research into rising healthcare costs in the United States. He discovered that although wasteful healthcare spending at the national level has hovered around 30% for years, the situation within private employers was far worse.
In response to this huge and lingering problem, he launched Health Cost IQ to help self-insured entities uncover costly health plan inefficiencies, waste, fraud, and abuse. Since the company’s inception, Health Cost IQ’s software platform has identified and helped customers save millions on their annual healthcare spend, with an average cost reduction of 20-30% after the first year. For three years running, Health Cost IQ has been SOC 2 certified. This respected cybersecurity compliance process verifies that client data acquired, stored, and processed by HCIQ is done with the utmost integrity, confidentiality, privacy, and security.
SOC 2 Certified
For three years running, HCIQ has been SOC 2 certified. This respected cybersecurity compliance process verifies that any client data stored and processed by HCIQ is done so with the utmost integrity, confidentiality, and privacy.
Leveraging our platform, Health AnalytIQ, customers reclaim an average of 20-40% annually, resulting in hundreds of thousands, and oftentimes millions, in reduced health plan spend. Other success stories:
- One customer identified medical claims overpayments totaling $2.5 million
- Another saved $1.5 million in stop-loss coverage costs in just two years
- In their first year, one customer saved over $300k in administrative costs
Careers at HCIQ
We’re looking for innovative, self-motivated individuals to join our team. Whether you’re working out of our main office in Chandler, AZ, or remotely, you’ll enjoy the warm and inviting atmosphere of our team. HCIQ is a place where every opinion is valued, and each contribution makes a real difference.
We offer a full range of benefits, including full medical, dental, vision, life, retirement, and more. If you’re looking to help drive change in the healthcare industry, then check out our available positions today by visiting the link below.
Health Cost IQ strives to significantly reduce health costs by eliminating waste and inefficiencies.
Health Cost IQ envisions a future where every self-insured entity’s healthcare dollar is spent wisely.
HCIQ Core Values
Motivated to Make a Difference
The work we do drives down the cost of care for our customers, and the difference we’re making means something to each of us. It’s more than a job; we’re on a mission.
BYOV (Bring Your Own Voice)
Diversity in perspective leads to innovation. When opinions collide, we keep the lines of communication open. We find a solution then we commit together.
Low Ego Approach
Self-serving attitudes don’t fit here. As we work through problems, we do so with a humble heart, so that discussions can happen with openness, honesty, and respect. We believe that true innovation emerges when ideas, not egos, take the spotlight.
Pop the Confetti Together
When we try new things and fail, we learn from it and move forward. When it's time to celebrate, we share in the victory together.