Reliable, source-protected data enables employers to make key business decisions on benefits programs
SAN FRANCISCO, Sept. 24 /PRNewswire/ -- Employers now have the ability to access the most comprehensive single-source benchmarks cutting across occupational and non-occupational disability/leave programs through the nonprofit Integrated Benefits Institute (IBI). Working with its 13 Data Consortium companies and with individual employers, IBI has amassed data based on nationally standardized definitions for nearly 30,000 employer benefits programs comprising more than 3.1 million claims across workers' compensation, short- and long-term disability and family and medical leave. The Institute now has the capacity to report on more than 300 industry sectors at the one-, two- and three-digit SIC (Standard Industrial Classification) code levels. Data Consortium members include Aetna, Broadspire, Cambridge Integrated Services, CIGNA, Crawford, The Hartford, Liberty Mutual, Matrix, Metropolitan Life, Nationwide Better Health, Prudential, The Regence Group and Sedgwick CMS.
"My clients need credible, reliable and industry-specific benchmarks for making key business decisions on their benefits programs," said Mary Tavarozzi, Principal with Towers Perrin. "IBI's disability and workers' compensation benchmarking database has the scale, the multiple industries and the national scope to meet our clients' information requirements."
IBI doubled its industry comparison database of employers and claims in the past year. So that employer-level benchmarks are consistent and comparable across all Data Consortium companies - a critical step in ensuring solid benchmarks -- IBI developed and applied a consistent claims aggregation methodology. In addition, the benchmarking database will support IBI's broader research and analysis, with reports released beginning in 2008.
"Reliable benchmark comparisons and analysis of employer experience require large, internally-consistent datasets," said Dr. Thomas Parry, President of the Integrated Benefits Institute. "IBI is the best single source for robust, highly credible benchmarks across occupational and non-occupational programs."
About the Integrated Benefits Institute
The Integrated Benefits Institute (IBI) is a national, not-for-profit, member-directed organization established in 1995. IBI is the health and productivity industry's premier private, not-for-profit research organization. In addition, IBI offers an unequaled suite of health and productivity measurement and benchmarking tools to fit any company's needs regardless of budget, data availability or staff resources. Each year, IBI also offers scores of integrated health and productivity educational forums. IBI's mission, program and activities are determined by its members - comprising hundreds of corporate entities, more than 90 percent of which are employers. IBI's membership also includes consultants, insurers, health care providers, third-party administrators, pharmaceutical companies, disease management firms and others having an interest in health, productivity and absence/disability management. More information about IBI's programs and membership may be found at http://www.ibiweb.org.
|SOURCE Integrated Benefits Institute|
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