7 Strategic Insights to Optimize CDH Account Performance

Wouldn’t it be great if you could track the key performance indicators of your own employer groups as well as those of your peers? Your Alegeus platform contains a wealth of demographic, account and transactional information that can lend clues to performance – what’s working and what’s not – as well as insights about what characteristics top and bottom performing accounts have in common.

Without a way to mine, organize and aggregate that information, it can be impossible to see trends and opportunities for improvement. Alegeus Analytics does all of this and more with an interactive analytics engine that is used to mine account portfolio data from the Alegeus platform to uncover strategic insights and identify actionable opportunities to improve business performance. Armed with insights obtained from the system, your sales, marketing and operation teams can execute targeted campaigns and initiatives to achieve desired and measurable business outcomes.

The formula for improved performance
Alegeus Analytics is the engine that makes your data actionable by organizing it into a more consumable format that helps you identify trends and areas for improvement. With a business analytics engine like Alegeus Analytics, designing programs to achieve improved results is as easy as 1-2-3 or access, insights and strategic execution.

1. Access to data.
Your Alegeus administration portal contains a wealth of information, including:

  • Demographics
  • Spending
  • Savings
  • Claims
  • Interactions
  • Plans
  • Employer groups
  • Engagement
  • Operations

2. Insights through data aggregation and presentment:

  • Peer-to-peer comparisons
  • Sub-par performance
  • Low-efficiency employers
  • Employer and plan outliers
  • Reimbursement opportunities

3. Acting on the insights to develop target programs that achieve desired outcomes:

  • Cross-sell/up-sell
  • Best practices
  • Strategic discussions
  • Marketing & communications programs
  • Plan design and configuration
  • Digital channel implementation & adoption

Interactive dashboards and use cases
Alegeus compiled and analyzed 2015 performance behaviors across nearly 300 TPAs, health plans and financial institutions that use the Alegeus platform to administer accounts and process debit card transactions. Through those relationships, Alegeus supports more than 30 million consumers and 225,000 employer groups, servicing 40 percent of benefit accounts in the market. Alegeus also services 15.3 million active payment cards and processes more than 9.1 billion healthcare payments annually. Through this unparalleled engagement, Alegeus can analyze this data to acquire and share unique and comprehensive market expertise.

1. Peer comparison & benchmarking dashboard:
Compare your business’s key performance indicators against other CDH account administrators to discover areas of leadership and improvement.

  • CDH program performance compared to your peers
  • Whether your performance is above or below the market, or if you right on track – allowing you to refocus your efforts where needed and pull back unnecessary effort
  • Easily filter and change peer groups to compare against “like” administrators

Use case: Using the peer comparison dashboard, one health plan discovered that their employer groups fell below the Alegeus book of business in card transaction rates. Armed with this information, they designed and implemented an employer communication campaign to drive card penetration at open enrollment and usage throughout the year.

2. Account summary dashboard:
Understand account funding levels, feature enablement, spending and savings statistics, investments, average balances, and more.

  • Account performance
  • Areas with the best penetration
  • Clients who are over or under-funding accounts
  • How your HSA business is performing

Use case: One administrator used this dashboard to uncover employers with a high number of consumers whose HSA accounts were active but ran out of money to cover annual healthcare costs well before the end of the year. Through strategic discussions and open enrollment adoption materials, they helped employers increase the average annual funding amount its employees contributed.

3. Employer comparison dashboard:
Easily isolate employers and compare their business data against the rest of your book of business. Identify opportunities to improve profitability, identify high-cost clients, engagement hurdles, and more.

  • Compare employers on key consumer experience and efficiency-related indicators
  • Identify outliers and opportunities for immediate improvement
  • Create custom ‘like’ employer groups

Use case: An national administrator used this dashboard to segment accounts by geographic region. Analyzing employers by region, they were better able to target the most popular plans and features accordingly.

4. Consumer engagement dashboard:
Gain deeper insight into consumer experience, including spending behavior, resource utilization, engagement levels, and more.

  • Metrics and insights into your CDH program’s overall consumer experience
  • Spending & savings behavior
  • Funds utilization
  • Digital channel utilization

Use case: One administrator logged 21,306 annual employee interactions providing account balances, estimated to cost $4-5 per live service interaction, or more than $80,000 annually. Using this dashboard, they built and executed a marketing program promoting mobile, text messaging and automated phone support – giving consumers a faster, more immediate response to their balance inquiries, and resulting in a 75% year-over-year decrease in balance inquiry-related calls, saving $60,000.

5. Operational efficiency dashboard:
Assess your operational efficiency and cost effectiveness, including claim auto-substantiation metrics, consumer support insights, electronic vs. paper communications, and more.

  • Analyze operating costs & claims processing efficiency
  • Identify the number of consumer calls, reasons, frequency, etc.
  • Understand adoption of electronic vs. paper communications and reimbursement methods
  • Determine if communications and marketing activities are targeting the right people with the right message

Use case: One administrator discovered their direct deposit rate was 10-15 percent lower than the industry average. Using this dashboard, they were able to pin-point 15 employers dragging the rate down. They built and executed a communication plan that used custom messages deployed through digital channels to promote direct deposit with an incentive to enroll. The campaign resulted in a 9.5% year-over-year increase in direct deposit reimbursement – now slightly above industry average – and has realized thousands saved by eliminating paper check payments.

6. Fraud management dashboard:
Monitor debit card activity for fraudulent transactions, including high volume, high frequency, suspicious user activity, and more.

  • Monitor CDH funds use and debit card activity for potentially high-risk activities
  • Track and gauge transactions, watching for anomalies or red flags
  • Track internal user activity

Note: This is not a fraud prevention or mitigation solution, nor does it replace existing controls or services combatting CDH account fraud.

Use case: Using this dashboard, one administrator discovered a much higher-than-normal average debit card transaction amount at one retailer. This information alerted the administrator to further investigate debit card purchases made at this retailer.

7. Administrator scorecard dashboard:
Monitor key organizational metrics around your staff’s performance within the Alegeus platform, including claims processor efficiency, turnaround times, report use, customer service efficiency, and more.

  • Insights into your team’s processing and administrative efficiency

Use case: Using this dashboard, you can easily identify team members who fall below the average rate for number of claims processed and time-to-process claims. With this information, you can design recognition programs to incentivize high performance and training programs to ensure claims processors are maximizing system features.

Learn more about Alegeus Analytics
Contact your account executive or watch our on-demand webinar, Unleash the beast: Seven interactive dashboards that will transform your business decision making.

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