Geisinger Chief Actuary Kurt Wrobel told the New York Times, “Historical experience is the lifeblood of what we do. We take that experience, adjust it for the underlying growth of health costs and project it into the future so we can estimate the expected costs for a particular insurance policy.”
The “historical experience” that Wrobel mentions brings up the question of what exactly employer health plans or employers should be doing with the historical and current data they generate.
Should health plans keep and manage their own data? If they do, what are the benefits to this control?
In this week’s Rewind feature, we’ll answer these questions and discuss why it’s so important for companies and health plans to keep a close eye on their data to control their destiny.