Pulse8 has been able to identify high-cost outliers, resulting in reduced cost through shortened LTC stays and less expensive care options.
Las Vegas, NV (PRWEB) September 28, 2012
John Criswell, Founder and CEO of Pulse8—a company that provides state-of-the-art analytic products that deliver insights about long-term care populations—discussed the use of multiple data sources to help improve underwriting and cost containment.
The long-term care industry (LTC) faces the difficult task of concurrently lowering costs and increasing sales. Between these two goals there are thousands of important decisions about how to underwrite and price policies, manage people with chronic conditions and contain high-cost claims.
Pulse8 has recognized that demand for long-term care support services are growing, people are living longer with multiple chronic diseases, and patterns of care are very different from the past. As a result, LTC firms are finding it difficult to impact financial performance and outcomes.
Mr. Criswell spoke to Pulse8’s solutions that help improve underwriting and premium setting to deliver more precise substandard risk groups. He demonstrated that by using more complex datasets, research is proving that many risk groups are much less risky than assumed. Therefore, more people can be included rather than denied, and more complex products can be considered.
Mr. Criswell addressed Pulse8’s Early Detection and Cost Containment solution and how Pulse8 has been able to identify high-cost outliers, resulting in reduced cost through shortened LTC stays and less expensive care options. He proved that by identifying enrollees, assessing risk, and offering points of intervention, Long Term Care Insurer’s can reduce future high-cost members and events, and that ultimately care management lowers the probability that people enter nursing home care.
By leveraging healthcare expertise, bridging the data gap, and continually dissecting LTC trends, Pulse8’s analytical products offer the answers needed to solve the problem resulting in significant financial improvements.
For a copy of the presentation, or more information on Pulse8, please visit http://www.pulse8.com, or contact Pulse8 at 410.928.4218. For more information on the conference, please visit http://www.limra.com.