Issue 07 / October 2015
A research and strategic consulting company in the Midwest worked with Willis to identify specific health utilisation patterns.
How risk managers can help to mitigate people risks, recruit and retain the best talent and ensure successhttp://www.resilience.willis.com/articles/2015/09/27/managing-human-capital-risk-2030/
The Willis Analytics team followed cost trend patterns for certain types of services, benchmark diseases, stratified population risks, identified excess gaps in medical care and identified which conditions were driving high claimant costs.
While the majority of the company’s health plan members have low risk scores, a threat (company risk) would be if they slipped to a medium risk score, which would result in an average cost increase of $4,000 per member.
With high claimants alone driving $2.8 million in costs — and 40 employees having both high risk scores and high care gaps — there was an opportunity to close gaps and lower high claimant spend.
Coupled with health awareness screenings and a targeted campaign against hyperlipidemia, the company employed several initiatives, including value based prescription drug management and targeted communications, for three segments of the company’s population, including more than 2,000 employees in 30 offices in more than 20 countries.
The recommendations saved the company $1.4 million. Thanks to the story told by the health care analytics the company, in partnership with Willis, was able to identify solutions and find savings opportunities.
James Blaney is CEO of the Human Capital practice at Willis Global Solutions. He is responsible for overall human capital business unit growth specifically focused on new sales, client retention, training, talent recruiting and mergers & acquisitions.
Willis Group Holdings plc is a leading global risk advisor, insurance and reinsurance broker. With roots dating to 1828, Willis operates today on every continent with more than 18,000 employees in over 400 offices. Willis offers its clients superior expertise, teamwork, innovation and market-leading products and professional services in risk management and transfer. Our experts rank among the world’s leading authorities on analytics, modelling and mitigation strategies at the intersection of global commerce and extreme events.Find more information at our website, www.willis.com
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