The new estimator tool allows customers to forecast impact of COVID-19 on their operations
Image: OneDigital launches new COVID-19 health plan cost impact tool. (Credit: Unsplash/Daan Stevens)
OneDigital, the nation’s leading strategic advisory firm focused on driving business growth for employers of all sizes, today announced the launch of its COVID-19 Health Plan Cost Impact Tool. The new and proprietary tool equips employers with the potential financial impact of COVID-19 on their employee health plans by measuring the frequency and severity of COVID-19 cases within an employer’s unique population and geography and forecasts expected instances of infection, hospitalization and the dollar amounts associated with each.
Over the past several weeks, members of OneDigital’s analytics, actuarial and consulting teams have been calibrating data models for employers to understand the economic impact of COVID-19 as it relates to health insurance costs. Publicly available information is fragmented, disparate and in need of mathematical interpretation, normalization and then visualization so that employers can better understand the economic road ahead.
“A core value driver at OneDigital is that we need to bring employers “Peace of Mind” and never has this been more important than in today’s unsettling times,” said Adam Bruckman, president and CEO of OneDigital. “This tool is unique in its ability to draw upon data sets being provided daily from the CDC, federal, state and local agencies and over 15 additional health insurance, healthcare and actuarial sources.”
“Our go-to-market approach will be to make our COVID-19 Health Plan Cost Impact Tool available free of charge to any employer,” said Mike Sullivan, co-founder & chief growth officer at OneDigital. “Employers can benefit in better understanding the potential impact of coronavirus on their employee population, based upon infection rates and population density, geography, industry and numerous other data elements, all normalized to the mean of an overall US workforce.”
The COVID-19 Health Plan Cost Impact Tool is the latest development in OneDigital’s industry-leading approach to helping businesses navigate the COVID-19 pandemic. In February, OneDigital launched the Coronavirus Advisory Hub, an online resource for employers that provides practical solutions that are actionable, timely and helpful in shaping workforce decision-making. In addition, the firm has launched bi-weekly Employer Advisory Sessions, aimed at equipping employer’s insights on evolving workplace practices and newly emerging legislation that offers businesses and individuals with much-needed relief.
Source: Company Press Release