SHPS Adds Decision Support Tools to Its Enrollment Solution Through Agreement with Asparity Decision Solutions.LOUISVILLE, Ky. -- SHPS SHPS Sykes Health Plan Services (OPM designated long-term care partner) SHPS St. Hope Public Schools (California) SHPS Strategic Health and Productivity Solutions , a leading provider of healthcare consumerism consumerism Movement or policies aimed at regulating the products, services, methods, and standards of manufacturers, sellers, and advertisers in the interests of the buyer. solutions, announced today an agreement with Asparity Decision Solutions of Durham, N.C. to integrate Asparity's decision support tools into SHPS' online benefits enrollment solution for large and mid-sized employers. As the trend toward healthcare consumerism becomes increasingly prevalent, employees need clear, easy-to-use decision support tools in order to better understand their options, choose the best health plan for themselves and their family and better navigate the complicated healthcare system. "Information transparency should be a key component of any organization's healthcare consumerism strategy, as the increase in choices and products create a greater risk of uncertainty and confusion for consumers," said Jeffery Lanzet, SHPS' executive vice president, consumer-driven benefit solutions. "Self-service decision support tools provide consumers with much-needed guidance as they navigate through the complex, often confusing world of healthcare benefits." Among the Asparity tools SHPS has added to its enrollment solution include: --Preference module, where medical plan options are ranked in the order that "best fit" an employee's personal preferences, helping them weigh the cost, benefit, access and quality attributes of each plan; --Comparison module, which allows employees to compare medical plans for out-of-pocket costs out-of-pocket costs Managed care Health care costs that a covered person must pay out of pocket–eg, coinsurance, deductibles, etc. See Copayment. , access to care, benefit coverage and previous health plan satisfaction; --Medical cost calculator, allows employees to estimate their medical usage, learn about the true cost of healthcare and consider their projected out-of-pocket costs for themselves and their dependents; and --Spending account, tax-savings calculator, which allows employees to determine their likely tax savings from use of a flexible spending account flexible spending account, n an employee reimbursement account primarily funded with employee-designated salary reductions. Funds are reimbursed to the employee for health care (medical and/or dental), dependent care, and/or legal expenses and are , health reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. arrangement or health savings account A Health Savings Account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a High Deductible Health Plan (HDHP). The funds contributed to the account are not subject to federal income tax at the time of deposit. . The new tools are seamlessly integrated into SHPS' online applications, allowing participants to access the tools at strategic points throughout the enrollment process. The enhanced applications will be available to current and prospective clients this fall for the 2007 benefits enrollment season. "Asparity is among the premier providers of decision support tools in the industry with strong, patented technology and significant industry experience. As such, SHPS is confident that the innovation and flexibility offered through our enhanced enrollment solution will help consumers make smarter healthcare decisions, ultimately reducing healthcare costs for them, and their employers," added Lanzet. "Integrating Asparity's decision tools into SHPS' online enrollment solution will help drive effective consumerism strategies for SHPS' clients," said Colleen col·leen n. An Irish girl. [Irish Gaelic cailín, diminutive of caile, girl, from Old Irish. Murphy, Asparity's president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "Not only will it empower consumers to make informed healthcare decisions, but it will also help employers become better healthcare suppliers by providing data on their employees benefit preferences and projected healthcare costs." About Asparity Decision Solutions Asparity provides decision support and data solutions in the areas of employee benefits, operational risk, and workforce talent management to companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and around the world. Asparity owns patented technology in conjoint analysis See also: Conjoint analysis (in marketing), Conjoint analysis (in healthcare), IDDEA, Rule Developing Experimentation Conjoint analysis, also called multi-attribute compositional models or stated preference analysis, is a statistical technique that originated in and advanced software applications that it delivers directly to corporate clients and through strategic partners. The company is headquartered in Durham, NC with offices in Amarillo, TX. To find out more, please visit www.asparity.com. About SHPS SHPS provides a broad range of innovative health management tools, resources and services that empower consumers to make wise healthcare decisions. With comprehensive services that transform consumer health behaviors, SHPS' integrated delivery system integrated delivery system Integrated provider Medical practice A coordinated health care system formed by physician groups and hospitals which ↑ efficiency and ↓ redundancy in providing health care; IDSs coordinate delivery of a broad range of health maximizes the value of consumers' and employers' healthcare dollars. Among its many clients, SHPS serves large and mid-sized employers, health insurance carriers, Medicare Part D providers and government agencies. The company employs registered nurses and health professionals, employee benefit specialists and IT experts in facilities across the United States. Visit www.shps.com. |
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