For many employers today, obtaining employee data is not the challenge; it’s making sense of the immense amount of data employers have at their fingertips.
However, accessing this data can provide employers with information about the benefits their workforce values, as well as key insights into the health problems that may be driving costs. OneDigital’s National Practice Leader of Health & Wellbeing Shira Wilensky and HR Consulting leader Keith Falk at OneDigital West Region dive into the opportunities and challenges of utilizing health care data analytics in the recent article, “Analytical Tools to Help HR Manage Benefits, Reduce Costs” published in SHRM.
Data is inherently dumb. If not correctly collected or analyzed, numbers can lead you down the wrong path. Automating data collection is a way to avoid problems associated with employee self-reported data. If you are self-funded, you should have access to both medical and prescription claims data. Determining your greatest health risks and largest cost drivers can serve as a benchmark for your program and guide the types of programs and interventions to offer.
— Shira Wilensky, National Practice Leader of Health & Wellbeing, OneDigital Health and Benefits
Digital transformation has already altered much of the HR function, with artificial intelligence and machine learning driving efficiency. Now the employee benefits area, which had been slower to adopt artificial intelligence (AI), is making significant strides through this technology.
— Keith Falk, Regional Managing Director of HR Consulting, OneDigital West Region
Click here to access the full article.
Curious to learn more about using data to inform your company’s health & wellbeing strategy? Check out this recent article by Shira Wilensky: 5 Ways to Use Data and Analytics for Effective Corporate Health & Wellbeing.
The post OneDigital Leaders Talk to SHRM About Harnessing Data to Drive Down Health Care Costs appeared first on OneDigital.