Innovu Launches EmployerLens, Putting Benefits Data to Work to Contain Employer Costs

The second step in Innovu's data journey delivers actionable insight

Jul 22, 2015, 15:36 ET from Innovu, LLC

PITTSBURGH, July 22, 2015 /PRNewswire/ -- Today, Innovu, a healthcare data management company transforming the benefits landscape, launched EmployerLens, providing analytical tools combined with expert services that employers and their advisors use to make data driven, insightful total rewards program decisions. EmployerLens integrates and validates the HIPAA and HITECH compliant business and clinical data securely stored in EmployerVault to create a single truth of information.

EmployerLens applies Innovu's unique SmartAnalysis algorithms to the data, auto identifying anomalies, such as duplicate claims or member ineligibility. Deeper analysis assesses key performance indicators to create actionable information necessary for employers to understand the true benefit program cost drivers unique to their employee populations. Employers and their advisors can use KPI-based dashboards and reports to measure the success of their total rewards program. For deep analysis and insight, advisors can further explore the data and create custom reports and ad hoc visualizations. Innovu's analysis team is also available to provide expert analytical services.

"We felt the most important thing that we could do first is going out and capturing all that data at the rawest level, integrating, consolidating, and securing it together, so that you have the data for future analysis," said Innovu chief executive officer Pat Stewart. "That was our number one priority because, without the data, we can't get to the ultimate outcome of creating actionable insight."

EmployerLens provides that visibility and clarity. "Clarity is really the most important thing because, once you have clarity of information, you can start to create true actionable insight, explained Stewart. "At the end of the day, what healthcare needs is actionable insight. They [employers and benefit advisors] need to understand what the data is telling them to be able to fix it [the problems]." 

View a two minute video of Pat Stewart's complete remarks.

The HDH Group, a Pittsburgh-based benefit advisor, has partnered with Innovu to redefine the way it delivers value to the clients it has served for more than 30 years. "Benefit costs continue to rise, and our clients are looking to us for more sustainable strategies to keep those expenses in check," said Chet Rhodes, HDH Group Chief Sales Officer. "We can now deliver significantly more actionable insight to our clients since teaming up with Innovu and taking advantage of EmployerVault's data management capabilities and the advanced analytics and benefits expertise that comes with EmployerLens."

Another client, American Textile Company (ATC), a leading provider of innovative bedding products, immediately reaped benefits from its partnership with Innovu. "We began our data journey with Innovu in December 2014 to ensure we had access to our historical and current data as we transitioned to a different third-party administrator," explained John Riccio, ATC's Senior VP and Chief Financial Officer. "We have now moved to the second step of our data journey, gaining visibility and clarity into what is happening across our entire total rewards program. Adding EmployerLens has given us a seamless, 360-degree view of our historical and current benefits costs and cost drivers. For the first time, we have the ability to address target areas as well as improve efficacy of our benefit programs based on our own employee data."

About Innovu, LLC.

Innovu empowers employers and their benefit advisors to solve complex problems associated with optimizing quality, cost, and efficacy of healthcare and benefit programs. The company's cloud-based Innovu Horizon solutions unlock powerful information contained in silos of benefits data, giving CEOs, CFOs, and human resources the scorecard and balance sheets needed to make data driven decisions. For more information, visit www.innovu.com.  

Contact
Joanne Benteler, Senior Marketing Manager  
412.212.7520 ext. 714   
jbenteler@innovu.com

Video - http://youtu.be/B_n_1PhG63Q

 

SOURCE Innovu, LLC