NASHVILLE, Tenn.--(BUSINESS WIRE)--Peel & Holland, headquartered in Benton, Kentucky, Silberstein Insurance Group, headquartered in Lutherville, Maryland, and Virtus Benefits, headquartered in Nashville, Tennessee, have partnered to form a separate jointly owned data analytics company named Acclaim Health Analytics, LLC (AHA). The three firms will continue servicing clients and operating as independent benefit agencies but will collectively use AHA’s innovative model to transform medical and prescription claims and health risk data into actionable information to identify health risks, lower insurance costs, and improve health care outcomes.
“Our resources will allow us to use claims data to identify cost drivers and compliance with treatment protocols. This will, in turn, lead to better decision making resulting in lower costs and, most importantly, a healthier employee population”
This partnership marks the first of its kind in the country and signals a growing trend regarding the importance of data analytics.
According to Greg Carlton, senior vice president of Peel & Holland, "Through specialized, cutting-edge technology and a unique engagement process, AHA makes complex decisions easier for its clients. The result of our analysis is a strategic plan tailored to support the specific goals and objectives of each client."
Richard Silberstein, president of Silberstein Insurance Group, explained that, as partners and advisors to employer clients, the firms are in constant search of opportunities to bend the cost curve of employee benefits.
"One solution that is growing in effectiveness and will continue to do so is claims data analytics," said Silberstein. "It is for this purpose that Acclaim Health Analytics is being formed."
David Johnson, president of Virtus Benefits added that through AHA, the three firms will bring leverage and efficiencies to managing claims, improving health, and health care decisions.
"Our resources will allow us to use claims data to identify cost drivers and compliance with treatment protocols. This will, in turn, lead to better decision making resulting in lower costs and, most importantly, a healthier employee population," said Johnson.
The three benefits consulting firms met through their membership in the Benefit Advisor Network (BAN), an exclusive consortium of benefit advisors throughout the country. As a group, BAN services more than 10,000 employers and 8,500,000 employees, representing all major industries. BAN Membership is contingent upon meeting the utmost standards of industry knowledge, ethics and ability to lead and collaborate. Through the partnership with BAN, the firms have access to a wide range of legal, wellness and population health management, and product and benefit design expertise throughout the country. By leveraging the BAN's size, the firms are able to bring clients the best solutions to meet their needs at the most competitive prices.
About Peel & Holland
Founded in 1924, Peel &Holland develops unique, cost-saving solutions to fit the needs of individuals, families, businesses and public entities. The company's team of risk and benefits advisors customizes strategic plans that consider different aspects of risk. The company does business throughout Kentucky and in Southeast Missouri, Southern Illinois and Northwest Tennessee with offices in Benton, Murray, Mayfield and Paducah, Kentucky. Additional information can be found at www.peelholland.com or 800.599.8621.
About Silberstein Insurance Group (SIG)
With a team of highly skilled, licensed advisors and a service-focused support staff, Silberstein Insurance Group serves more than 500 corporate and individual clients in over 45 states. As a trusted partner and industry innovator, SIG is driven to help clients find the right solutions to meet individual and company goals and objectives as well as measure and manage cost and risk. For more information, contact Silberstein Insurance Group at www.silbs.com or 877.823.0624.
About Virtus Benefits
Virtus Benefits is a full-service employee benefits advisor of customized benefits solutions. The company's single focus is employee and executive benefits. The company provides a comprehensive array of business services and strategies that work to meet the financial goals of its clients while maintaining focus on the employees’ well-being. For additional information, visit www.virtusbenefits.com or call 615.345.0365.