The Arevo team is celebrating the launch of our biggest update yet, Arevo Version 2.1. The updated platform is powered with AI to automate benefits management and includes a new dashboard, new renewal projection, new automated guardrails, new program/vendor ROI. All in all, a great experience upgrade for our users and future customers.
This release marks a big step towards our goal of providing employers and service providers with the most powerful platform to manage employer health. Here are just a few of the improvements to Arevo Health that give you the tools you need to succeed:
- Renewal Projection – provides a real-time low and high estimate of what the Plan should expect as an increase assuming no plan design or vendor changes upon renewal. It does this by analyzing historical claim data, medical trend, and stop-loss carrier loss ratios. Along with this estimate, the tool also provides a funding calculator to model how premium contributions might change to account for the Plan’s increase, surplus or deficit, and IBNR.
- Guardrails – let’s technology monitoring plan performance and notify users if the plan is endangered of moving out of the lane and into the danger zone.
- Alert Guardrails are designed to draw attention to relevant data points relating to plan performance, i.e. is the plan running at a funding deficit or are there significant changes to utilization patterns.
- Audit Guardrails review the payment data to identify potential plan losses that can either be avoided or potentially recovered.
- Program/Vendor ROI – From the beginning, it has been the goal of Arevo to independently measure the ROI of different employer health initiatives and cost containment vendors. This new version is now capable of analyzing whether or not different programs are delivering an ROI based on analyzing the claims data of a given group’s participants.
We are excited to continue to employer employers, benefits brokers and payers with a powerful software platform to manage the complex world of self-funded employer benefits. If you are interested in learning more about these new features or anything else about Arevo you can contact us for a demo.
The Arevo Team