PHOENIX, Ariz., Oct. 11, 2022 (GLOBE NEWSWIRE) -- As Title Sponsor of the Self-Insurance Institute of America (SIIA) National Conference & Expo in October, Vālenz® introduced several game-changing solutions that will favorably alter the trajectory of healthcare costs for self-insured employers.
Through the power of the Healthcare Ecosystem Optimization Platform, Valenz has expanded its ability to engage data and empower better decision-making to drive outcomes and lower costs, starting long before care is provided and continuing long after a claim is paid. The company’s member navigation and advocacy product, NaVcare is now enhanced with Care Value Optimizer (CVO). In addition to traditional NaVcare member navigation and advocacy services, CVO triages members to charity care, care bundles or high-performance network offerings based on their financial and health profile to drive the least costly, highest quality outcomes for plan sponsors.
“CVO is a game changer in terms of enhancing our ecosystem and ability to drive the lowest cost, highest quality care for members before going to traditional network providers. When you couple this with our care management suite, specialty pharmacy and aggressive bill review and claim repricing programs, it is a strong cost and quality control program that will ultimately bend the trajectory of health plan spend,” said Rob Gelb, CEO of Valenz. “The ultimate goal of the Valenz Healthcare Ecosystem Optimization Platform is to help self-insured employers lower plan spend and mitigate risk.”
To this end, the Valenz V-Rated Solution, was unveiled at SIIA. The V-Rated Solution leverages the cost reduction value of the full ecosystem to capture optimal stop loss ratings. By utilizing enhanced analytics to assess financial risk, engaging proactively with medical stop loss underwriting which accounts for the positive effects of the ecosystem at the start of the sales process, and employing a continuous loop of information to all parties, plan sponsors can be assured that their premiums are fully representative of the value of cost containment.
“We’re fundamentally changing the way employers look at stop loss insurance. It should no longer be managed as a commodity. By engaging early in assessing risk and having insight into what is possible from integrated cost containment initiatives, employers can mitigate fiduciary risk by enabling Stop Loss to accurately align underwriting with the summary plan description, realize cost savings, and be better positioned to predict costs year after year,” said Gelb. “The journey for transformative and meaningful change in our industry is just beginning and we’re here to bring those ready for that trip forward with us.”
“We’re thrilled to share our fully integrated solution at the industry’s largest self-insurance event,” Gelb said. “We first launched the Valenz ecosystem at the SIIA conference in 2019, the last time it was held fully in person before the pandemic. Three years later, we’ll come together with a great network of companies and people, in our own city of Phoenix, as a rapidly expanding company with several strategic transactions and a fully optimized ecosystem of interactive, data-driven solutions. We are anticipating and curating a very special event for our clients, partners, prospects and industry colleagues.”
Scheduled for Oct. 9-11 at the JW Marriott Phoenix Desert Ridge Resort & Spa, the SIIA annual conference offers educational programs, meaningful insights and game-changing solutions on the latest industry topics. Gelb will facilitate an “Engagement Accelerator” session called “Selling in the Self-Insurance Market,” which will address the acceleration of change, the challenges of staffing, and other industry developments that should drive thought leadership and likely will shift the mind of the buyer in the self-insurance value chain. Participants will share their experiences and strategies on how to effectively support self-insurance industry buyers while achieving corporate growth objectives. An approach Valenz describes as ‘getting comfortable being uncomfortable’ which is a Core 4 tenet to the Valenz culture driving meaningful change in an industry hungry for innovation and transformation.
Valenz has been a Diamond Member of SIIA since 2020, which signifies the highest level of support for SIIA’s mission and demonstrates a leadership position in serving the needs of the self-insurance community.
About Valenz
Vālenz® simplifies the complexities of self-insurance for employers through a steadfast commitment to data transparency and decision enablement powered by its Healthcare Ecosystem Optimization Platform. Offering a strong foundation with deep roots in clinical and member advocacy, alongside decades of expertise in claim reimbursement and payment validity, integrity and accuracy, as well as a suite of risk affinity solutions, Valenz optimizes healthcare for the provider, payer, plan and member. By establishing “true transparency” and offering data-driven solutions that improve cost, quality and outcomes for employers and their members, Valenz engages early and often for smarter, better, faster healthcare. Valenz is backed by Great Point Partners. More information is available at valenzhealth.com.
