{"id":14654,"date":"2021-07-13T08:42:51","date_gmt":"2021-07-13T12:42:51","guid":{"rendered":"https:\/\/roundstoneinsurance.com\/?p=14654"},"modified":"2023-06-20T11:44:29","modified_gmt":"2023-06-20T15:44:29","slug":"captives-do-it-better-data-transparency","status":"publish","type":"post","link":"https:\/\/roundstoneinsurance.com\/excelsior\/blog\/captives-do-it-better-data-transparency\/","title":{"rendered":"Captives Do It Better: Data Transparency"},"content":{"rendered":"\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>The idea of asking your insurance carrier for your healthcare and claims data has been taboo for so long that it isn\u2019t listed as an FAQ on <em>any major fully insured carrier\u2019s website<\/em>. That\u2019s right, in the digital age, with a wealth of information at our fingertips, it\u2019s impossible to get your hands on actionable data when it comes to your organization\u2019s healthcare spend.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Anthem BCBS rolled out <a href=\"https:\/\/www.bcbs.com\/coronavirus-updates\/stories\/covid-19-data-sharing-supports-local-community-decision-making\">data tools<\/a> last fall to help government officials, public health figures, and employers track regional and group-specific trends as they relate to COVID-19\u2026 but where is the rest of it? As healthcare plan utilization begins to rise in areas other than COVID-19 testing, vaccinations, and care, data transparency will be more important than ever to ensure value-based healthcare.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>It\u2019s true that more data transparency is coming in the next few years, as legislation like the <a href=\"https:\/\/www.ftc.gov\/legal-library\/browse\/statutes\/no-surprises-act-2021-consolidated-appropriations-act\">No Surprises Act<\/a> and the <a href=\"https:\/\/www.cms.gov\/newsroom\/fact-sheets\/transparency-coverage-final-rule-fact-sheet-cms-9915-f\">Transparency in Coverage Rule<\/a> take effect. But as <a href=\"https:\/\/www.healthcarebusinesstoday.com\/without-quality-health-care-price-transparency-is-incomplete\/\">Healthcare Business Today<\/a> recently pointed out, \u201cTo truly drive value in our health care system we must marry complete price transparency across all sites of care with quality data and make that information easily accessible to the public.\u201d So why not get ahead of the curve and get a wealth of data (including pricing and quality of care) in the meantime?<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Consumers compare pricing and quality for purchases as small as their mobile phones and vacuum cleaners all the way up to their refrigerators and cars. But unless you have data transparency with analytically-derived insights, you really can\u2019t do the same comparison shopping for a huge medical expense such as <em>surgery<\/em>, even while surgery bills generally outpace most product pricing.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Roundstone\u2019s medical group captive delivers insightful data \u2013 a great advantage with our self-funded health insurance solution. In fact, the data transparency in our captive gives you full access to your group\u2019s anonymized healthcare data, including industry benchmarks.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Roundstone\u2019s health benefits plans automatically include access to your claims data\u2013it\u2019s not a premium feature. Eligible plans utilize one of several TPAs who send monthly claims data, which is then reported to advisors and employers via our CSI Dashboard, a business intelligence platform designed exclusively for our clients. Whether they have 20 employees or several thousand, Roundstone employers are managing healthcare costs like any other business expense, with the ability to see where every single claims dollar is spent. Now that\u2019s powerful!<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Data Transparency in Captive Healthcare: Why It Matters<\/strong><\/h2>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>How does data transparency in captives translate to savings? You can act on almost every data point displayed by <a href=\"https:\/\/roundstoneinsurance.com\/excelsior\/roundstone-csi-dashboard\/\">Roundstone\u2019s CSI Dashboard<\/a>, for example. Track Emergency utilization, comparison shop pricing for non-emergency procedures, discover partners who will help bring costs down by passing rebates along to you, and so much more.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"wp-block-image wp-image-14709\">\n<figure class=\"alignleft is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/roundstoneinsurance.com\/excelsior\/wp-content\/uploads\/2021\/07\/Data-Transparency-in-Captives-Pharmaceutical-Insights-Dashboard-Screenshot-1891x885-1-300x140.jpg\" alt=\"Data Transparency in Captives: Screenshot of CSI Dashboard\" class=\"wp-image-14709\" width=\"786\" height=\"367\" srcset=\"https:\/\/roundstoneinsurance.com\/excelsior\/wp-content\/uploads\/2021\/07\/Data-Transparency-in-Captives-Pharmaceutical-Insights-Dashboard-Screenshot-1891x885-1-300x140.jpg 300w, https:\/\/roundstoneinsurance.com\/excelsior\/wp-content\/uploads\/2021\/07\/Data-Transparency-in-Captives-Pharmaceutical-Insights-Dashboard-Screenshot-1891x885-1-1024x479.jpg 1024w, https:\/\/roundstoneinsurance.com\/excelsior\/wp-content\/uploads\/2021\/07\/Data-Transparency-in-Captives-Pharmaceutical-Insights-Dashboard-Screenshot-1891x885-1-768x359.jpg 768w, https:\/\/roundstoneinsurance.com\/excelsior\/wp-content\/uploads\/2021\/07\/Data-Transparency-in-Captives-Pharmaceutical-Insights-Dashboard-Screenshot-1891x885-1-1536x719.jpg 1536w, https:\/\/roundstoneinsurance.com\/excelsior\/wp-content\/uploads\/2021\/07\/Data-Transparency-in-Captives-Pharmaceutical-Insights-Dashboard-Screenshot-1891x885-1-scaled.jpg 1800w\" sizes=\"(max-width: 786px) 100vw, 786px\" \/><figcaption>Access to your own data translates to big savings opportunities, thanks to Roundstone&#8217;s CSI Dashboard. Pictured is the new Pharmaceutical Insights dashboard, which tracks total pharmacy spend, brand name vs generics, specialty drug costs, and so much more.<\/figcaption><\/figure><\/div>\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>And what a difference data makes. Roundstone employers save an average of 20% using these resources. Unfortunately a recent strategy for many employers has been to <a href=\"https:\/\/www.seattletimes.com\/business\/build-higher-health-insurance-costs-into-your-financial-plan-now\/\">shift more rising health benefit costs to employees<\/a> in the form of increased deductibles, co-insurance and premium share. This approach is clearly not a solution that helps recruitment and retention of your workforce. The bottom line that impacts <em>your<\/em> bottom line is that the data transparency in captive healthcare plans makes it possible for you to work your costs down while providing high quality benefits for your employees. And after the year or so we\u2019ve had as we emerge from the pandemic, a happy, healthy workforce is hard to take for granted!<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><a class=\"wp-block-button__link has-white-color has-text-color has-background no-border-radius\" style=\"background-color: #dd8a61; text-decoration: none;\" href=\"https:\/\/roundstoneinsurance.com\/excelsior\/wp-content\/uploads\/2021\/07\/The-Cost-Savings-Investigators_march2021.pdf\" target=\"_blank\" rel=\"noopener\"><strong><span class=\"has-inline-color has-white-color\">Download the CSI Dashboard Fact Sheet<\/span><\/strong><\/a><\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>Interested in data analytics for your own healthcare plan?<\/strong><\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><a class=\"wp-block-button__link has-white-color has-text-color has-background no-border-radius\" style=\"background-color: #a9be5f; text-decoration: none;\" href=\"https:\/\/roundstoneinsurance.com\/excelsior\/contact-us\/\"><strong><span class=\"has-inline-color has-white-color\">Contact us for a demo and consultation!<\/span><\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p class=\"excerpt\">The idea of asking your insurance carrier for your healthcare and claims data has been taboo for so long that it isn\u2019t listed as an FAQ on any major fully insured carrier\u2019s website. That\u2019s right, in the digital age, with a wealth of information at our fingertips, it\u2019s impossible to get your hands on actionable [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":14701,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1831,1827],"tags":[],"class_list":["post-14654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cost-containment","category-employers"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v25.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Data Transparency With Captives | Roundstone Insurance<\/title>\n<meta name=\"description\" content=\"Roundstone&#039;s CSI Dashboard provides HIPAA-compliant data compared to industry benchmarks for a complete snapshot of your business\u2019s health insurance spend.\" \/>\n<meta name=\"robots\" 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