HealthInsight Enters Market With "Value-Based" Healthcare Administration Platform

The Minneapolis-based vendor's new offering for payers, TPAs and employers aims to reduce costs by identifying higher-value and lower cost treatment options and providing incentives to individuals to change unhealthy behaviors and take preventive measures.

New vendor HealthInsight (Minneapolis) today debuted what it characterizes as the only value-based healthcare administration platform. The HealthInsight offering consists of a set of technology and services for health insurers, third-party administrators and employers that the vendor claims is proven to lower overall medical costs while improving the quality of care.

HealthInsight's proprietary technology generates preventive and condition-specific health actions based on an individual's unique health status, according to a vendor press release. The vendor's concept of value-based care is based on the notion of driving consumer engagement by providing incentives to individuals to access preventive care. Insurers are able to get those individuals' cooperation by rewarding participants with richer benefits when pre-defined health actions are completes. Among these actions are the completion of a health questionnaire; participation in an annual biometric screening; and following age, gender and condition-specific guidelines. Rewards include the reduction or waiving of copays, deductibles and/or coinsurance; and the reduction of health insurance premiums, according to HealthInsight.

The HealthInsight platform consists of three "pillars," namely analytics, administrative services and an adult personal health record.

HealthInsight's analytics capabilities include comprehensive population risk analysis that identifies markers for potential increases in health costs, and also analyze patient data to uncover costs of undiagnosed conditions, and also triggers recommendations of actions to minimize healthcare costs.

The offering's administrative services include value-based plan design administration at what the vendor describes as an affordable price; the provision of plan designs tailored to meet the individual needs of each plan member; and the recalculation of benefits in real-time and retroactively applying them as health actions are completed for both prescribed preventive health actions and chronic conditions.

The HealthInsight platform's personal health record captures lab results, physician and hospital services (medical claims) and prescription drug information; provides guidance on appropriate actions to stay healthy, including information about chronic conditions and recommendations for making life-style changes; and presents individuals with their personalized scorecard used for tracking health actions, according to the vendor.

Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio