New Actuarial Study Shows Accolade Personalized Advocacy Substantially Reduces Employer Healthcare Costs
A comprehensive study from a leading consulting firm has found that Accolade employer customers save significant medical and pharmacy spend across the entire member population, regardless of age, demographic, or condition.
According to a rigorous independent comparison study by Aon, Accolade personalized advocacy allows self-insured employers to save between $527 and $782 per employee, per year—substantial savings over a matched multi-employer control group.
The single-year and multi-year study was conducted by a highly respected team of Aon actuaries, who compared the medical utilization and financial results of two self-insured employers using Accolade’s personal advocacy solution to a matching control group selected from the IBM MarketScan® Research Database. The control group consisted of some of the largest and most competitive benefits programs in the country.
“The report validates that to bend the employer healthcare cost trend, you need to engage the whole population, not just the highest cost or highest risk patients, and provide a deeply personalized experience through people and technology,” said Accolade Chief Actuary Carolyn Young. “While Aon analyzed two Accolade customers with 10,000 and more than 100,000 members, Accolade achieves cost savings for employers of any size. It is highly rewarding to have such prominent actuaries analyze and substantiate our model with such rigor and precision.”
“This analysis represents one of the most rigorous comparison studies conducted on employer healthcare cost drivers and savings,” said Aon Senior Vice President Todor Penev. He added that Accolade’s customers have achieved cost reductions through personalized advocacy beyond what typical employers have accomplished for the same period.
Accolade achieves its cost savings through personalized advocacy, using a people plus technology approach that blends compassionate health assistants, clinical expertise, intelligent technologies, and integrated partner solutions to assist people in obtaining the right care at the right time.
Read the full press release here.