Optimize employee benefits with healthcare analytics

The rise of medical devices, wearable tech, telehealth, electronic health records and an increasing volume of claims has generated an unprecedented surge in health-related data.

Yet, more than a decade after “big data” became a buzzword, and 5 years after COVID-19 highlighted the power of tracking and analyzing population health data, most healthcare data is still going unused.¹ That presents an enormous opportunity for employers — the chance to use data analytics to enhance employee benefit offerings, and the employee experience, while managing costs. Considering that employers now spend on average $25,000² per employee for family medical premiums, the latter is no small feat.

Fortunately, modern technology such as AI, automation and machine learning are rapidly advancing to help turn this data into powerful insights. These tools will allow employers to analyze everything from benefit use to population health trends, helping them understand which benefits are being used, how they’re being used and if they’re meeting the needs of their employees. With these insights, companies can then revisit and refine their offerings.

Healthcare analytics isn’t just about gathering data — it’s about turning it into actionable insights. Employers need granular information to improve benefit usage and engagement. And that’s where powerful benefits analytics solutions come in.

Two key features make these solutions indispensable:

1. Interactive dashboards. A user-friendly dashboard with customizable data filters that can produce visual representations of trends and comparisons on specific topics. This allows organizations to quickly uncover insights that matter most.
   
   
2. Ad hoc reporting capabilities. These tools let users create customized reports based on attributes and measures that are important to them, ensuring that they can dive deep into the data and extract exactly what they need. 

Optum® Benefits Analytic Manager,³ for example, includes both of these features.

But it’s not just about having the right tools — it's also about having the right expertise. Optum Benefits Analytic solutions go beyond data integration and account management. Employers also get access to subject-matter experts like clinicians, researchers and actuaries who offer in-depth guidance on how to best leverage analytics. 

Fortunately, the data that employers need to optimize benefits usage, engagement and costs is likely already at their fingertips. Here are 2 of the biggest ways analytics can help unlock that value:

1. Personalizing employee benefits and improving care

Healthcare analytics can predict individual employees’ needs, enabling organizations to offer benefits that are tailored to their workforce. By taking into account data such as disease progression trends, treatment effectiveness, and benefit use by population, employers can better understand the benefits their employees most need and want.

This allows for targeted wellness programs and preventive care (including vaccine and screening reminders), ensuring workers receive the right care at the right times.

Analytics in action: An employer wanted to understand how the COVID-19 pandemic was impacting the mental health of its workers. By comparing pre-pandemic and post-pandemic behavioral health data, an Optum-designed study uncovered significant increases in anxiety, adjustment disorders, and alcohol-related issues — especially among young adults. As a result, the employer expanded in-network behavioral health coverage (up to 100% after deductible) and introduced new services like sleep and stress management programs. These changes were driven directly by the data.

2. Reducing costs through data-driven decisions

Employers can analyze health trends over time to identify areas where costs are rising, such as unnecessary hospital admissions. Predictive analytics can also forecast future healthcare needs, helping organizations allocate resources more efficiently.

Analytics in action: Via an Optum-designed cohort study, an organization measured the results of a new program offering anti-obesity medications (AOM) with health coaching. The study found that employees who used AOM with coaching had a 7% reduction in medical costs per person per month, as well as fewer ER and urgent care visits, proving the program’s success in both cost containment and improved care.

The flood of healthcare data is only going to continue growing. But rather than being overwhelmed by it, employers can use this data to gain a competitive edge in employee engagement, recruitment, and retention — provided they have the right tools in place. It all starts with bringing data to life — and using it in the smartest way possible.