WALTHAM, MA – Med-Vision, a Tampa, Fla.-based healthcare planning, risk management and wellness consulting consulting company, has reportedly helped clients reduce healthcare costs by 10 percent to 12 percent over the past two years by using Verisk Health’s Explorer solution.

“Across the board, most employer groups lack visibility into what is truly driving healthcare outcomes and costs,” said Nathan Gunn, chief medical officer at Watham, Mass.-based Verisk Health. “Med-Vision’s success with our Explorer product is positive proof that clear insight into data goes a long way toward impacting the bottom line.”

Verisk Health, which identifies, analyzes and predicts healthcare risk, launched Explorer several years ago for mid- to large-sized employers. The company’s goal was to draw on data analytics to understand employer cost trends, identify drivers and determine how best to lower healthcare expenditures.

Verisk officials said Explorer, a Web-based data analytics solution, helped Med-Vision identify and execute strategies to successfully lower costs while improving clinical, financial, quality and use metrics.

“Data is power in healthcare and the starting point for enabling meaningful change,” said Dan Ross, Med-Vision's founder and CEO. “Verisk Health gave us the tools we needed to unlock the data and identify the cost drivers and trends to significantly reduce spending for our employer groups.”

According to Ross, Med-Vision has seen:

• Emergency room visits decrease by 11.9 percent;
• Per-member per-month pharmacy costs decrease by 19.3 percent;
• Per-member per-month cost decrease by 8.6 percent;
• Inpatient days decline significantly;
• Breast cancer screening compliance improve by 38 percent; and
• Generic drug use increase by 4 percent.