Analytics
Everything we do starts with analytics. By mining claims data, our platform can make intelligent recommendations to help bring the best solutions to employer groups. Novo Connection offers revolutionary, proprietary analytics that bring real savings right to your fingertips.
Our proprietary analytics includes:
Rx Analytics
Take control of prescription benefit plans. Get visibility into pharmacy claims and discover valuable insights to drive substantial savings. Our comprehensive Prescription Benefit Analytics tool provides full transparency into the Prescription Benefit Manager (PBM) world. Make an educated decision about prescription benefit programs and feel confident in the results.
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Novo Connection mines your claims data to find safe, low-cost alternatives to high cost medicines.
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Gain visibility into plan spend at the pharmacy, physician, participant, and individual claim level.
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Pinpoint key pricing discrepancies and identify and implement solutions that most impact plan spend.
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Choose and manage programs with our intuitive dashboard.
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Our powerful analytics combine with program monitoring to hold PBM’s accountable.
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Monitor plan performance and contractual guarantees.
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Identify opportunities for contract negotiations.
Proven Savings
We are here to help employer groups control outrageous prescription benefit spending. Every solution we offer has been vetted to offer significant savings to our customers. A school district with 4,500 employees has been able to save over $4.1 Million using the programs offered by Novo Connection. This translates to a 579% return on their initial investment. Where else in the industry can you find savings like that?
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Minimal impact to employees and HR Teams
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Significant cost savings and ROI potential
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Ongoing analysis of spending trends
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Pick and choose programs to implement
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Experts available to assist you
Plan Repricing
Dynamically compare contract rates and plan designs to find the right fit for your plan and members.
Claims Management
Actively engage with your claims data through interactive charts and detailed drill-downs that show exactly where your money is going.
Actionable Insights
Sort and filter your data any way you choose in real time, and identify pain points unique to your claims data, such as new high-dollar claims which could affect budget planning or low patient adherence which could lead to adverse health events.
Novo Connection offers a complete and holistic view of medical spending and gives insights and suggestions to programs that can help curb costs.
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Reviewed quarterly to make sure spending is on track and make shifts in real time
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Offers insights into plan utilization by plan members and provides recommendations for cost-saving mechanisms
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Tailored solutions to add-on to improve performance
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Insights and recommendations into J-Codes, payment integrity, and medicare pricing
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Medical Analytics
Stop-loss Shopping
We understand self-funded programs have a lot of moving parts and an essential element is shopping for stop-loss. Novo Connection partners with dozens of stop-loss vendors, ensuring the best quoting for unique self-funded plans. Something that would have taken weeks, can be done in a matter of minutes.
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Novo Connection has a modeling-based platform using rule-based engines
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Using competitive pricing to ensure the best market rates
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An entire ecosystem of vendors for every facet of your benefit program building
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Customized plan building to Request For Proposals (RFP) in 90% less time
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Built on a proprietary secure platform
