Truven Health Analytics and Wakely Consulting Group Unveil Benefit Modeling Tool

Truven Health Analytics reported the release of an enhanced version of its Benefit Modeler solution that estimates the impact of benefit design changes, including new regulatory items required by the Affordable Care Act (ACA).

In its release, the Company said the Truven Health Benefit Modeler is an online analytics solution that supports employers, health plans, and benefits consultants in the evaluation of a range of plan types including high-deductible health plans (HDHPs).

The Company noted that the new version contains updated actuarial assumptions based on the Truven Health MarketScan Commercial Claims database, as well as significant methodology and functionality changes to support healthcare reform, pharmacy benefit planning, and federal Minimum Value Calculator reporting.

Truven Health Analytics reports that Benefit Modeler now alerts users if design scenarios are not compliant with ACA requirements for ER and preventive services and out-of-pocket maximums. The tool also provides greater granularity for pharmacy reporting, including an added Specialty Drug tier and additional inputs for modeling major medical and pharmacy plan designs.

"Healthcare costs continue to rise, and payers are increasingly turning to data and analytics to evaluate what's working and what isn't," said Barb Graovac, senior vice president at Truven Health Analytics. "By understanding the needs of a specific population and tailoring medical and prescription drug benefits to match those needs, payers can deliver high-quality outcomes and reduce costs, all while ensuring compliance."

Truven Health Analytics noted that the upgrades to Benefit Modeler were developed in partnership with Wakely Consulting Group.

"Healthcare benefits are becoming more complex due in part to the ACA and public and private exchanges", said Julie Peper, director and senior consulting actuary at Wakely Consulting. "We're committed to partnering with Truven Health to provide the detail needed for actuarial validation of new plan designs, as well as updated methodologies that keep up with changing market trends."

Wakely Consulting Group is an actuarial consulting firm focusing on healthcare and healthcare reform.

Truven Health Analytics owns brands in healthcare, such as Micromedex, ActionOI, 100 Top Hospitals, MarketScan, and Advantage Suite.

More information and complete details:

http://truvenhealth.com

www.wakely.com

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