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HealthComp’s Analytics Solutions: Harness the Triple Advantage

In a previous blog post, we talked about the four dimensions of a powerful analytics solution, including reporting, dashboards, predictive and prescriptive analytics. At HealthComp, we actually offer technology, tools and advantages that deliver additional value, cost savings and enhanced outcomes for our clients. In this article, we’ll review the key differentiators that set our analytics solution apart from our competitors.

Advantage #1: Proprietary Tools

Our HCNavigator dashboard is a state-of-the-art solution that we designed and built entirely in-house. With more than 20 years of experience in the health benefits administration industry, we built a unique solution that spoke to the needs of our customers.

A key advantage to the HCNavigator dashboard is its proprietary nature. Since it was developed in-house, we retain complete control over the system and can customize it as needed. Unlike other TPAs which use off-the-shelf solutions that are difficult or even impossible to customize, we’re able to continually enhance our solution to meet the needs of the market and our customer base. For example, as the healthcare industry continues to shift due to new or changing regulations, clients often want to track new metrics. HealthComp has the power and flexibility to help our customers monitor a wide range of data points.

Because we developed our analytics suite with our unique customers in mind, it’s highly intuitive and user-friendly. We can set up data fields and dashboards specific to the needs of each employer’s plan, which is a huge advantage in tracking data and developing plan insights. We also continually listen to our customers and ask for their input, looking for ways we can improve our solution to meet their needs. Many other TPAs don’t have a proprietary system or the accompanying expertise to be this flexible.

Advantage #2: In-House Expertise

Our in-house staff includes over 25 information technology (IT) professionals. This team includes data engineers who can design custom dashboards, so customers can review data trends and identify opportunities to save costs and enhance their plan design. The wide breadth of expertise and experience available enables us to pair clients with experts in all aspects of benefits administration – from data analysis to plan design to claims management.

Advantage #3: Benchmarking Capabilities

Since HealthComp has more than 400 clients nationwide, our book of business provides data for industry benchmarking. For example, we recently designed and custom built a benchmarking project for one of our clients. It included very specific performance measures that compared how the company’s benefits were performing in comparison to similar plans. This project helped the company’s decision-makers to truly understand how their plan was performing relative to other companies. As part of this initiative, we helped them identify other strategies and additional opportunities for savings to further improve their results.

Amplifying Performance into the Future

An analytics solution has the power to harness your plan data and amplify performance year over year. HealthComp’s analytics solution delivers key differentiators that can help brokers and employer groups take a more effective approach to managing their benefits. In the end, our customers are well equipped to squeeze out additional value and savings from their benefits and plan design.

Justin Forton is the VP of Analytics & Insights of HealthComp . He has worked in the employee benefits industry for over 18 years and is based in Chicago. For more information on our analytics solutions, please contact us at contact@healthcomp.com.

Chad Harris

Chief Executive Officer

 

Chad Harris serves as the CEO of HealthComp and is a value-driven healthcare leader with over twenty years of experience running business process and information technology businesses as a senior executive. Chad has a reputation for creating and controlling rapid growth by focusing on the intersection of customers, market dynamics, and the new digital world.

 

Chad has held many senior executive positions and led global teams of more than 10,000 people across dozens of counties. Chad has grown both large and small businesses, from those with less than $100M of revenue to those producing multiple billions of revenue, focusing on delivery, customer satisfaction, and innovation to create market leadership.

 

Chad's philosophy is to inspire change by doing what comes naturally, putting the needs of others before his own, working incredibly hard, and focusing on "how" to accomplish things, never "if they can be accomplished."

Thomas Martel

Chief Growth Officer

 

Tom serves as the Chief Growth Officer at HealthComp. In this role, Tom focuses on strategic initiatives aimed at accelerating HealthComp’s growth nationwide. His passion lies in assessing market and enterprise structures and creating efficiencies that enable teams to deliver best-in-class performance.

 

Previously, Tom led Cigna’s largest employer segment, largest region which was comprised of several health plans including the two largest health plans. He worked closely with Market Presidents and their leadership teams to develop and execute local market strategy and deliver growth for the enterprise. Tom earned his degree from Saint Anselm College and holds certifications from The Wharton School and the Darden School of Business at the University of Virginia. In his spare time, he enjoys sailing and holds a Master Captain’s license with the U.S. Coast Guard. He is also active in community outreach programs including local food bank and shelter services.

Sanoj Balakrishnan

Chief Technology Officer

 

Sanoj Balakrishnan serves as the Chief Technology Officer at HealthComp. In this role, he oversees the company’s overall technology strategy and architecture, building secure and highly scalable distributed systems.

 

Most recently, Sanoj served as Head of Healthcare Digital Business and Technology at Cognizant, working with payers and providers in developing solutions that reduced healthcare costs and provided a best-in-class experience for members. Earlier in his career, he worked at technology organizations in a variety of software engineering and architecture roles. Sanoj earned his B.S. from University of Mumbai and Computer Systems Management from National Institute of Information Technology.

Justin Tran

Executive Vice President, Product

 

Justin serves as the Executive Vice President of Product at HealthComp. He has 8 years of experience in developing and delivering solutions that reduce health care costs, improve quality, and provide a best-in-class experience for members. Most recently, Justin was an Associate Partner and business unit leader at McKinsey & Company where he helped large carriers and healthcare technology companies build new clinical services and solutions for fraud, waste, and abuse. Justin earned his B.S. in Accounting and Data Informatics from Indiana University, Bloomington.

Tucker Stein

Chief Financial Officer

 

Tucker serves as the Chief Financial Officer of HealthComp. Tucker previously worked for The Boeing Company in a number of finance and strategy roles, most recently as a finance lead for the Transactions and New Business Development group. In this role, Tucker led investments and strategic partnerships for Boeing’s Space and Communications portfolio. Tucker earned his MBA at Stanford’s Graduate School of Business and his Bachelors of Science at the University of Redlands.

Tom Georgouses

General Counsel

 

Tom is involved in multiple areas of HealthComp including Operations, Compliance and Legal Affairs. Tom was admitted to the California Bar in 1990 and started his legal career with Stammer, McKnight, Barnum and Bailey, LLP. When he left the firm to join HealthComp in 2014, he was the Managing Partner (he had represented HealthComp since 2003). In private practice, Tom’s areas of focus included healthcare and transactional work. Tom holds a Bachelor of Science Degree in Business Administration-Finance from California State University Fresno and received his Juris Doctorate from San Joaquin College of Law.

Rishab Bansal

Chief Transformation & Operations Officer

 

Rishab serves as the Chief Transformation & Operating Officer at HealthComp. Rishab focuses on transforming and modernizing HealthComp’s operations to provide delightful and distinctive experiences to its members, providers, and clients. His agenda includes integrating all entities towards a One HealthComp vision, driving profitable growth, and delivering value and business outcomes.

 

In his former work over the last 2 decades, he has helped clients across industries to transform themselves by bringing industry-leading practices and digital and data-led disruption. As the trusted advisor to the C-suite, Rishab helped his clients leapfrog on their transformation journey to accelerate business outcomes and helped them unlock new opportunities to drive profitable growth, profitability, and enhanced experience for their employees and clients.


Elaine Davis

Chief Human Resources Officer

 

Elaine Davis serves as CHRO for HealthComp. Elaine previously served as CHRO for Continuum Global Solutions and has served in executive leadership positions for Xerox and GlaxoSmithKline. Elaine holds Bachelor’s and Master’s degrees from the University of California at Berkeley.