Benefits Science Technologies Launches Advanced COVID-19 Modeling Tools

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BST helps consultants and employers with self-insured health plans understand the likely financial impact of the COVID-19 pandemic.

Benefits Science Technologies (BST) has released a modeling tool that projects the financial impact COVID-19 will have on self-funded health plans. Utilizing its industry-leading predictive and prescriptive analytics, and led by Chief Actuary Mike Morrow, Benefits Science has developed a Cash Flow Impact Model (available at that allows users to tailor scenarios to their populations under various assumptions, such as severity of infection rates, longevity of the crisis, and percentage of services deferred to future months. The tool provides an important first step in helping employers plan for future health plan cost changes.

“Nobody can predict exactly how long this epidemic will last or how many people will be affected,” said Stephen Sofoul, MBA, CEO & President, “As the disease progresses and treatments are better known, cost projections will shift. This tool provides employers and their consultants with an easy way to model multiple scenarios – in order to understand the potential range of results.”

For employers with self-funded health plans, these challenges include some potentially large changes in expected claims for the remainder of 2020, and likely beyond. Claims are expected to increase as members seek testing and treatment for the disease at urgent care facilities, emergency rooms, and inpatient hospitals. However, some plans will experience lower than expected claims for a period as elective procedures are put on hold or abandoned. BST’s interactive tool shows the impact of COVID-19 under different scenarios, providing the expected change to both incurred and paid claims costs when measured against the budgeted cost. This helps employers plan for these cost changes.

BST’s Data Science and Actuarial Science teams have developed additional tools to help better score risk and optimize plan design factoring these unprecedented new conditions.

About Benefits Science Technologies
BST provides data analytics software/analysis to help manage the risk of self-funded health plans. Plan holders improve their connection to data, empowering optimal decisions to control costs, and improve the quality of care for plan members. The company distributes these capabilities to employers directly, through brokers/consultants, or by association with carriers (stop-loss and voluntary benefits providers), benefits administrators, professional employer organizations, third party administrators, pharmacy benefit managers, and/or cost-containment providers.

Founded in 2012, the company is recognized as a world-leading research and applied science team, developing advanced analytics and robust optimization methodology for complex health insurance decisions. Our mission is to improve health outcomes while lowering costs by helping our clients uncover the details of their health plan - and providing actionable insights along with outcome predictions for the recommended decisions. Our strategy is to build world-class solutions based on cutting-edge scientific insights.

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Mark Hufham
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