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Leveraging data analytics to control health plan and pharmacy spending

Faced with perpetually rising health care and pharmacy costs, challenges in retaining and attracting employees, and now a surge in inflation, today’s…

By Mary Delaney | August 01, 2022 at 07:57 AM
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Faced with perpetually rising health care and pharmacy costs, challenges in retaining and attracting employees, and now a surge in inflation, today’s business owners, benefits advisors and HR managers find themselves operating with little margin for error. These challenges create a difficult dynamic: To attract top talent, businesses must offer a total rewards program that is demonstrably valuable to employees, and to keep businesses running, they must design and implement these programs in a manner that is purposeful, efficient and effective.

Data analytics provides the needed insight into benefits performance plan metrics, enabling empowered decision making to reduce pharmacy and medical costs while also enhancing the health and wellness of the workforce. Through analytics, businesses can not only predict the future health and wellness needs of their workforce but also develop timely interventions to maximize savings and health outcomes.

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