Novo Connection Analytics
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Trusted Advisors use Novo Connection Analytics because our proprietary AI driven software leverages actual medical and Rx claim data to optimize plan efficiency, identify cost-saving opportunities, and enhance member care quality. Our in-house service team actively engages with members through personalized outreach based on our unique data insights and drives them to cost-saving options. Our proactive approach leads to a remarkable 400-500% increase in engagement with our point solutions, paving the way for positive healthcare outcomes.
Rx Analytics
Pharmaceutical costs take up about 25% of employer's annual healthcare spend. 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 educated decisions about prescription benefits and feel confident in the results.
Our Analytics can:
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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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Compare actual costs to fair market prices and see where you are being overcharged.
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Pinpoint key pricing discrepancies and identify and implement solutions that most impact plan spend.
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Our powerful analytics combined 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.
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 & 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.
Plan Repricing
Dynamically compare contract rates and plan designs to find the right fit for your plan and members.
Stop-loss Shopping
We understand self-funded programs have a lot of moving parts and an essential element is marketing stop-loss. Novo Connection partners with dozens of A-rated stop-loss carriers, ensuring the best quotes for unique self-funded plans.
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Novo Connection has a modeling platform using rule-based engines that match you to the right solutions based on your claims experience and plan components.
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By leveraging actual group and AI data, Novo Connection secures the most competitive pricing available in the market.
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Customized plan building to complete Request for Proposals (RFP) in 90% less time.
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Built on a secure proprietary platform that is directly integrated with stop-loss carriers.
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Communicate securely with multiple stop-loss vendors and track RFP progress through the platform.
