RxBenefits’ VP of Information Technology, Nathan Holman, was recently featured in Authority Magazine as part of their series on cutting-edge technological breakthroughs. In the interview, Nathan shares how his innate understanding and passion for technology inspired him to pursue a career in operational IT. He also explains the healthcare tech advancements RxBenefits is working on and how a data-driven pharmacy benefits approach provides self-funded employers with deeper insights that promote greater visibility, control, and cost savings without sacrificing the member experience. The following is a brief excerpt; you can read the full article here.
Can you tell us about the cutting-edge technological breakthroughs that you/your company are working on?
As the benefits industry’s first and only Pharmacy Benefits Optimizer (PBO), our pharmacy experts work on behalf of self-insured employers, independently of their medical carrier or pharmacy benefits manager (PBM), to lower purchasing costs, eliminate wasteful spending, protect employee health and safety, and boost employee satisfaction. Our PBO model utilizes advanced Business Intelligence capabilities and data modeling derived from our proprietary analytics platform, RxAnalyzer, combined with clinical expertise to identify potential risk areas in a company’s claims data and recommends hyper-targeted strategies to address them.
We’re incorporating AI/machine learning and predictive analytics into a new technology platform called ONE.RxB. This platform, along with many other capabilities, will enable us to analyze employer trends, patient demographics, prescription patterns and more, model that data, flag important insights and share recommendations to employers in real-time. The pharmacy benefits industry has a strong thirst for not only more robust data but also understanding of that data. Our technology will provide employers with deeper insights and enable them to make more informed decisions tailored to the risks and trends in their specific benefits plan.