PHOENIX, Ariz., Sept. 06, 2023 (GLOBE NEWSWIRE) -- The methodology used by Vālenz® Health to analyze and report cost savings by deploying a new health plan solution, as detailed in a recent case study, has achieved Program Validation for Savings from the Validation Institute.
The Validation Institute certified that “Valenz lowers costs for employers with better discounts on healthcare providers’ billed charges, as well as with a specialty drug program that taps into manufacturer and patient assistance sources.”
The Valenz case study included a consortium of three schools in Missouri with 353 employees and 721 members that was experiencing year-after-year double-digit premium increases under a fully insured health plan. With minimal transparency into claims data, school administrators had little control over the rising trajectory of costs. After implementing the full health plan solution – the Valenz Healthcare Ecosystem Optimization Platform – the consortium saved $1 million in the first year. According to Valenz officials, the company also returned $629,050 in savings for care management. While not validated, as care management savings at the individual member level is not factored into the Validation Institute methodology, total savings excluding drug rebates was $1.68 million.
“This affirmation from the Validation Institute underscores the opportunity for self-insured employers to completely replace their health plan to drive savings and enhance the member’s healthcare journey with proactive care management with the Healthcare Ecosystem Optimization Platform,” said Rob Gelb, Chief Executive Officer of Valenz. “While our customers have long known the power of the Valenz data-driven platform, the validated case study demonstrates to the market how smarter, better, faster healthcare can be achieved.”
According to recent studies, nearly two-thirds of employers are looking for innovative cost-containment solutions that increase employee access to high-quality providers, make costs more transparent, and ultimately reduce out-of-pocket expenses for specialty drugs.
“Providing a deep level of data transparency – not just into the pricing, but into cost, quality and utilization – is the first step in improving health plan benefits. It’s the same commitment to data transparency that allows us to deliver next-generation, integrated health plan designs with the value self-insured employers deserve,” Gelb said.
“By providing integrated service delivery through its Healthcare Ecosystem Optimization Platform, Valenz Health has demonstrated a clear pathway to more cost-effective and more efficient healthcare for self-insured plans,” said Benny DiCecca, Chief Executive Officer of the Validation Institute.
About Vālenz® Health
Vālenz® Health 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 the validation, integrity and accuracy of claims, and a suite of risk affinity solutions, Valenz optimizes healthcare for the provider, payer, plan and member. By leveraging data transparency and delivering an omnichannel approach across the healthcare journey, Valenz improves cost, quality and outcomes for employers and their members – engaging early and often for smarter, better, faster healthcare. More information is available at valenzhealth.com.
About Validation Institute
Validation Institute is an independent, objective, 3rd party organization on a mission to improve the quality and cost of healthcare. Based in Needham, MA, the organization is made up of a network of health benefits purchasers, health benefits advisors, and healthcare solution providers focused on delivering better health value and stronger outcomes than conventional healthcare.
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