DALLAS, TX – SmartLight Analytics formed a new partnership with Health Transformation Alliance recently to reduce healthcare spending by identifying and eliminating fraud, waste, and abuse in employer self-funded healthcare claims. HTA, a core group of powerhouse companies, combined forces to negotiate lower healthcare costs. SmartLight brings a new level of depth in analytical, clinical and data expertise to HTA member companies.
SmartLight Analytics helps HTA accomplish our mission of providing superior health outcomes at lower prices by helping plan members in need while reducing errors and outright fraud within our health plans in way that has not been done before by most large self-funded employers.Lee lewis, chief strategy officer & gm medical solutions at HTA
The new partnership could save millions, if not billions, in spending for HTA members at a time when healthcare costs are predicted to rise dramatically in a post-pandemic environment. With more than 50 of America’s largest companies a part of HTA, the joint agreement with SmartLight Analytics to work with its members could shake up the industry by exposing the fraud, waste and abuse that has existed in the U.S. healthcare system for years but remained largely under the radar.
“HTA members appreciate our focus on fraud and our carrier-friendly approach to not only finding issues but resolving them and preventing them from reoccurring so wasteful spending does not happen in the first place,” said Asha George, co-founder and CEO of SmartLight Analytics.
HTA aims to combine the purchasing power and talent of its members to improve health outcomes and get superior value for the healthcare investment made within its members’ self-funded employee healthcare plans. Its membership includes some of America’s largest corporations including American Express, Quest Diagnostics, IBM, Prudential, Pitney Bowes, The Hartford, and The Coca Cola Company. SmartLight Analytics brings to the HTA the ability to take a deep dive into the corporations’ employee healthcare claims. Using inferential analytics that does not presuppose data outcomes or require knowledge of schemes beforehand, SmartLight can identify wasteful spending which employers and third-party administrators may not know exists. SmartLight’s team of statistical and clinical experts have been able to identify fraud, waste and abuse that amounts to 3-5% of a company’s total healthcare spend.
“SmartLight Analytics helps HTA accomplish our mission of providing superior health outcomes at lower prices by helping plan members in need while reducing errors and outright fraud within our health plans in way that has not been done before by most large self-funded employers,” said Lee Lewis, Chief Strategy Officer & GM Medical Solutions at Health Transformation Alliance. “HTA is transforming healthcare to deliver more value to everyone, which is exactly what SmartLight Analytics is doing with its analytic methods and expertise. They are passionate about reducing healthcare spending.”
HTA is a cooperative of self-insured market leaders with employees across the U.S. aiming to drive better health outcomes for employees and their families covered by self-insured employer health plans.