Educational Consortiums

Decrease Risk, Lower Health Costs, and Eliminate Administrative Burden for Your Consortium

One of the biggest challenges facing today’s educational consortiums and similar shared risk pools is identifying and containing spiraling healthcare costs. More healthcare data is available than ever, and yet, data received from numerous sources often lacks meaningful insights or context. Most consortiums find it increasingly difficult to use this information to positively impact benefits costs and identify areas of high utilization. Managing an ever-increasing number of spreadsheets from various public school district members eventually becomes unwieldy and untenable. The aid of a partner with expertise in uncovering clear and concise insights from premiums, medical, and pharmacy cost trends is more important than ever.

That partner is HCIQ and its HealthAnalytIQ platform. The powerful analytics built into our platform simplify reporting and extract meaning from health plan claims by identifying and predicting trends, and then further analyzing the contributing factors to those trends. 

Consortiums are empowered to quickly evaluate groups by risk category, and gain the ability to easily identify adverse trends. This allows for informed, timely management decisions up to 12 months faster than in the past and the ability to take preemptive, corrective action. HCIQ’s automated datamatIQ Data Management System completely eliminates manual spreadsheet entry and the inevitable element of human error that comes with such administrative work, dramatically increasing efficiency and accuracy. This powerful system is currently helping clients like you to:

  • Quickly identify high-risk groups on the master health plan
  • Proactively forecast claims costs and risk by the group for the upcoming 12 months
  • Realistically assess monthly trend data about a group risk score, cost, and utilization
  • Accurately stratify employer groups by risk ahead of renewals

HCIQ’s HIPAA-compliant dashboards provide timely and actionable information about plan performance. Users gain access to the structured insights needed to drive long-term strategies, shape health plan design, and control costs. Detailed claims data is merged with premium data to provide previously unknown correlations between cost, utilization, and premiums. HCIQ’s consultants help customers turn this valuable data into an appropriate action plan for consortiums. Customers understand how each group is performing and how they are likely to perform in the coming year.