Episode Details
Chris Reed from Quantum Health’s Value Creation Center of Excellence shared exciting news about their latest third-party actuarial study. This study sheds light on their significant impact in curbing healthcare trend costs and highlights the unique methodology used. Let’s dive into the key takeaways from this groundbreaking study.
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Quantum Health’s Actuarial Study Revealed
Quantum Health is a pioneer in healthcare navigation, and their commitment to redefining success in curbing healthcare trend costs is evident in their latest actuarial study. In this study, Quantum Health took a deep dive into their book of business over a five-year period, from 2018 to 2022. What they found was truly remarkable.
The study showed that Quantum Health achieved a 3.3 to 1 return on investment (ROI) in year one and an impressive 5.3 to 1 ROI in year three and four, after accounting for net administrative fees. These results are unique to Quantum Health and highlight the effectiveness of their approach.
A Unique Methodology
What sets Quantum Health’s study apart is the methodology they employed. Instead of relying on traditional approaches, they took an individualized approach. They gathered independent claims projections from each of their individual clients and compared these to their actual results. This meticulous process provided a more accurate picture of their impact.
This approach distinguishes Quantum Health from other navigation firms that often rely on one or two cherry-picked case studies. Quantum Health’s commitment to studying their entire book of business and using an individual client basis for evaluation sets a new standard in the industry.
Benefits for Employers
The results of Quantum Health’s actuarial study have significant implications for employers. By partnering with Quantum Health, employers can provide their members with an exceptional healthcare experience. Quantum Health’s guidance and support during healthcare journeys help members make informed decisions and avoid unnecessary costs.
Employers benefit from cost savings as Quantum Health’s intervention helps reduce healthcare expenses. This win-win situation ensures that both members and employers benefit from Quantum Health’s services.
Standing Out Among Competitors
Quantum Health’s willingness to undergo a comprehensive actuarial study distinguishes them from competitors who may rely on less rigorous methods. The study provides decision-makers with confidence in choosing Quantum Health as their partner.
Furthermore, the study’s findings demonstrate that Quantum Health’s value extends across industries and company sizes. Whether it’s a small pizza shop or a large retail giant, Quantum Health’s services deliver value consistently. Healthcare is a universal experience, and Quantum Health’s human-centered, tech-enabled approach suits all.
In conclusion, Quantum Health’s latest actuarial study showcases their commitment to excellence in healthcare navigation and cost savings. Their unique methodology, impressive ROI, and ability to cater to clients of all sizes and industries set them apart as a trusted partner in the ever-evolving healthcare landscape. Employers and members alike can rely on Quantum Health to guide them through their healthcare journeys while optimizing cost savings.
WORD FROM OUR SPONSORS:
Our sponsors for this episode are Sage Growth Partners and Quantum Health
Sage Growth Partners accelerates commercial success for healthcare organizations through a singular focus on growth. The company helps its clients thrive amid the complexities of a rapidly changing marketplace with deep domain expertise and an integrated application of research, strategy, and marketing. For more information, please go to www.sage-growth.com & follow Sage Growth Partners on social media – @sagegrowthpartners
Quantum Health is an award-winning consumer healthcare navigation company that delivers an unparalleled consumer experience based on empathy and trust, enabling employers to achieve industry-leading satisfaction rates and independently validated claim savings. Launched in 1999, Quantum Health’s model is based on years of consumer research and the insights learned from guiding millions of consumers and their providers through their healthcare journey. Visit: https://quantum-health.com/ and follow Quantum health on social media – @Quantum Health
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