Put Treatment Cost Calculator to work for you and your employees

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Presentation transcript:

Put Treatment Cost Calculator to work for you and your employees Presenter Name Presenter Title Date

Truven Health Analytics® was acquired by IBM in 2016 to help form a new business, Watson Health™. Watson Health aspires to improve lives and give hope by delivering innovation to address the world’s most pressing health challenges through data and cognitive insights. 2

Consumer engagement at each stage Guide individuals to their best-fit benefit plan Help them manage their care Provide tools to evaluate & select treatments Fraud Administrative Clinical Help plan for out-of-pocket expenses Assist with provider selection Expected

Treatment Cost Calculator 4

The need for price transparency tools Fraud Administrative Clinical Patients bear a larger fraction of spending through increased deductibles, co-payments and co-insurance Variation in pricing: the same procedure in the same market can vary 100% in price1 Over 50% of US states have passed legislation establishing price transparency websites or mandating that health plans, hospitals or physicians make price information available to patients2 1Coluni, B., Save $36 Billion in U.S. Healthcare Spending Through Price Transparency, Thomas Reuters, February 2012, http://www.hreonline.com/HRE/view/story.jhtml?id=533347379 2deBrantes,F., MS,MBA; Delbanco,S., PhD, Health Care Incentives Improvement Institute (HCI3) – Catalyst for Payment Reform (CPR) Report Card on State Price Transparency Laws, July 2016, http://www.hci3.org/wp-content/uploads/2016/07/reportcard2016.pdf Variation in pricing stat comes from our infographic Expected

The value to you Provide consumers with easy-to-use experience to help guide better healthcare decisions and drive cost savings Enable consumers to better budget for healthcare expenses Create better educated and more engaged healthcare consumers Enhance employee satisfaction and appreciation for their benefits Expected

Treatment Cost Calculator at-a-glance Convenience Intuitive, responsive app Support for mobile devices Users can search for treatments, physicians or hospitals Accuracy 550+ shoppable treatments Accurate cost bundles Graphical display of treatment cost sharing Integration Estimate API solution available Personalized, shopping support for member care Expected

Cost estimation process Near real-time estimates with consumer’s own benefit information Fraud Administrative Clinical Expected

Predicting patient liability MRI of Lumbar Spine Example Fraud Administrative Clinical

Demo VIEW DEMO 10

Delivering value to you Why Treatment Cost Calculator? Features Personalizes cost and health management recommendations based on the consumer Easy-to-use interface allows users to efficiently search for treatment, provider or facility Creates estimates based on the MarketScan® database and paid claims data to more accurately reflect costs Multiple user flows allows the tool to be flexible to consumers’ needs Optional add-on features: Provider Patient Satisfaction; Spending Account Integration FSA/HSA Fill gaps in data for specific provider/treatment estimates with MarketScan data (up to 100x amount of data) Data results in highly accurate estimates Truven Health has 40 years experience in data management; a decade in the consumer space 550+ “shoppable” treatments Currently available to 28M consumers TCC’s ability to offer a personalized cost estimate – most marketplace tools offer a regional median estimate Expected

The Truven Health difference We Turn Data Into Action We Are Passionate About Healthcare We Know Virtually Everyone in the Industry We Are Independent and Objective We’ve Been Doing This Forever We LOVE Data We’re Only Happy When You’re Happy We Have a Really Sharp Team Fraud Administrative Clinical

Expected

Legal Disclaimer © Copyright 2017 Truven Health Analytics, part of the IBM Watson Health™ business IBM, the IBM logo and ibm.com are trademarks of IBM Corporation in the United States, other countries or both. Truven Health Analytics and its respective logo are trademarks of Truven Health Analytics in the United States, other countries or both. All other company or product names are registered trademarks or trademarks of their respective companies. A current list of IBM trademarks is available on the Web at “Copyright and trademark information” at www.ibm.com/legal/copytrade.shtml. This document is current as of the initial date of publication and may be changed by IBM at any time. Not all offerings are available in every country in which IBM operates. The information in this document is provided “as is” without any warranty, express or implied, including without any warranties of merchantability, fitness for a particular purpose and any warranty or condition of non-infringement. IBM products are warranted according to the terms and conditions of the agreements under which they are provided. The client is responsible for ensuring compliance with all applicable laws and regulations applicable to it. IBM does not provide legal advice or represent or warrant that its services or products will ensure that the client is in compliance with any law or regulation. The performance data and client examples cited are presented for illustrative purposes only. Actual performance results may vary depending on the specific configurations and operating conditions. It is the user’s responsibility to evaluate and verify the operation of any other products or programs with IBM product and programs. Statement of Good Security Practices: IT system security involves protecting systems and information through prevention, detection and response to improper access from within and outside your enterprise. Improper access can result in information being altered, destroyed, misappropriated or misused or can result in damage to or misuse of your systems, including for use in attacks on others. No IT system or product should be considered completely secure and no single product, service or security measure can be completely effective in preventing improper use or access. IBM systems, products and services are designed to be part of a lawful, comprehensive security approach, which will necessarily involve additional operational procedures, and may require other systems, products or services to be most effective. IBM does not warrant that any systems, product or services are immune from, or will make your enterprise immune from, the malicious or illegal conduct of any party. As of the latest publication date, the healthcare information presented here is accurate.