Many health insurance companies are looking at prescription usage to underwrite and rate group health insurance. It’s called predictive modeling.
GRx uses complete and current prescription histories. Details include drug name, dosage, fill date, pharmacy and physician information. This Healthcare Intelligence allows carriers to make risk assessment decisions with confidence and more accurately develop premiums. New group rates are quickly and more accurately developed. GRx turns group census data into a risk score. Health plans use the GRx risk score to more accurately predict the group’s future claim costs.
It’s good for the health insurance carrier and the group. Both get a more accurate quote potentially avoiding large rate fluctuations.
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