SeeChange Health Solutions Launches New Value-Based Plan Designs to Employers Nationwide
11/14/2011 5:59:34 PM
Entrance Into Marketplace Timed to Respond to Increasing Demand for Value-Based Insurance Design as a Health Care Cost Solution
November 14, 2011 | SAN FRANCISCO, CA, (MARKETWIRE) — SeeChange Health Solutions (www.SeeChangeHealth.com/Wave), the leader in value-based benefit design solutions to improve health and reduce health care costs, announced today a national launch of its Administrative Services Only (ASO) product to self-insured employers in all 50 states. Building upon its proprietary data analytics that have enabled health plans to successfully manage value-based benefits programs, the company is now offering its services directly to self-insured employers.
“This move allows SeeChange Health Solutions to directly meet increasing demands from employers now seeking to take advantage of cost controls derived from value-based benefits,” said Janice Rahm, SeeChange Health Solutions president. “Our value-based benefit designs use incentives to encourage individuals to participate in preventive health care, follow recommended treatment plans for chronic conditions, and adopt healthy behaviors.”
SeeChange Health Solutions’ ASO product uses a proprietary data analytics tool to inform employers of the potential health risks within their insured population. The use of individual incentives to encourage preventive care services and adoption of healthy behaviors is an increasingly popular tool given the success many large, innovative employers have experienced with value-based programs.
“The importance of aligning incentives cannot be overstated,” said Cyndy Nayer, president and chief executive officer of The Center for Health Value Innovation.
“SeeChange Health is the only health plan that includes incentives in all of its plan designs as a lever for behavior change to help employees improve their health, increase productivity and reduce health care costs in the long term.”
“One of SeeChange Health’s strengths is the ability to offer employers the flexibility to design and quickly implement a program that best suits their individual needs and the culture of their organization,” said Rahm. “While some employers may choose to design a program around a prevalent chronic condition, such as diabetes, for example, and use cash incentives to encourage adherence to condition-specific Health Actions; others may focus solely on preventive Health Actions and use enhanced benefits to encourage participation in wellness examinations and diagnostic testing.”
“Employers can contribute greatly to the transformation of the health system by focusing on value and not simply on financing and who pays,” said A. Mark Fendrick, M.D., co-founder of the University of Michigan Center for Value-Based Insurance Design. “SeeChange Health Solutions’ ability to administer health care benefits centered around value-based insurance design encourages employers to offer health benefits focused on getting more health for their health care dollar by making high valued services more accessible and affordable which in turn produces better health and increased productivity.”
SeeChange Health Solutions’ early-detection model identifies each member’s health status and potential risk of specific chronic conditions. Using robust analytics, SeeChange Health Solutions creates a Personalized Health Action Plan that provides each person with specific Health Actions based on age, gender, ethnicity and condition specific guidelines.
Of its current operations, the fast growing company announced last month that it had more than doubled the participants set to enroll in its consumer engagement and health incentive platform at the beginning of 2012. SeeChange Health Solutions will surpass a 1-million-member-milestone in the 2012 first quarter.
About SeeChange Health SeeChange Health is the leader in value-based benefit design solutions for employers — delivering the plans and services they are looking for to create better health and quality of life for employees, increase workforce productivity and lower their health care costs. SeeChange Health’s unique approach encourages individuals to play an active role in the management of their own health to prevent, detect and treat today’s most serious health conditions. SeeChange Health Solutions provides flexible, efficient administrative services with the proven cost-control advantages of value-based benefit designs to self-insured employers. SeeChange Health Solutions also provides the leading consumer engagement and health incentive platform to employers, health plans and third party administrators. SeeChange Health Insurance provides value-based benefit plans to fully insured employer groups — and is the first to bring this unique approach to small and midsize companies. For more information, please go to www.seechangehealth.com.