SEATTLE, Jan. 14, 2019 /PRNewswire/ -- Milliman, Inc., one of the premier global consulting and actuarial firms, today announced the transition of the industry's leading healthcare cost trend indices from S&P/Dow Jones to Milliman. Since 2013, Milliman has co-developed these indices in conjunction with S&P and Health Index Advisors Inc. (HIA), a joint venture in which Milliman was a 50% shareholder. Upon transition, the indices will be re-branded to the Milliman Health Trend Guidelines. With the Health Trend Guidelines now returning to Milliman, clients will have the benefit of combining Milliman's expertise with the best health cost trend tool available. These Guidelines are built on a database of approximately 60 million commercially-insured lives, representing about 40% of the total U.S. fee-for-service health insurance market.
"The Milliman Health Trend Guidelines offer a better lens for deciphering healthcare costs, both present and future," said Lorraine Mayne, Milliman Global Health Practice Director. "Not only can we now offer our clients the most up-to-date trend information, but we can pair that data with our actuarial, machine learning, and deep subject matter expertise to produce robust forecasts of potential future trends. No other healthcare firm has the ability to look both so deeply and so far ahead."
The Health Trend Guidelines will be released on a monthly basis with supplemental research from Milliman consultants. Organizations interested in accessing Milliman's healthcare trend research should contact HTGmanager@milliman.com.
"The Milliman Health Trend Guidelines support several important use cases," said Scott Harris of Milliman. "Many health plans use them for renewal negotiations and forecasting, providing an independent source of truth for parties looking to minimize the uncertainty of healthcare cost inflation. Milliman is the leading advisor to healthcare payers, and the acquisition of the Health Trend Guidelines further complements the scope of Milliman healthcare intelligence available to insurers, ACOs, unions, and self-insured employer groups, many of whom use them as a settlement vehicle for trend guarantees. The Guidelines are also an essential tool for the financial services industry, which uses them as a tool in predicting overall healthcare cost trends and their impact."
For more information about the Milliman Health Trend Guidelines, go to www.milliman.com/htg.
Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. For further information, visit milliman.com.
SOURCE Milliman, Inc.