Adherence to preventive screenings. Drastic cost savings. Early cancer detections.
All things we measure, and all amazing, life-changing impacts. At Evive, we’re all about connecting people with their benefits—but increased utilization isn’t the be-all, end-all. It’s merely a step in the right direction of making people’s lives better and solving those employer pain points.
Of course, monitoring progress and tracking results aren’t revolutionary actions on their own—after all, when you use a tool, you should expect to see what it’s doing for you. The difference is that our closed-loop system produces results. Those wins aren’t just one and done; it’s important to learn from them continuously and let them inform how we can create new, and even better, wins. We believe if we’re setting out to change people’s lives through the use of benefits, we need to constantly learn from each person’s actions, life events, and other changes as they occur.
That’s the closed-loop system. It ensures we’re up-to-date with a workforce’s evolving circumstances so we can give personalized, relevant guidance for people to make the best use of their benefits—and for employers to get the best return on their investment.
Where there’s data, there’s opportunity
From the beginning, the closed loop has been a priority—and we stay committed to it. Although the way it’s executed has evolved, the concept has stayed true to its core.
It all started with medical claims data: assessing it on a monthly basis to inform the appropriate nudges (which were only through direct mail at the time!). Today, we tap into the most robust data sets almost daily to inform those nudges—which, needless to say, are now digital—widening the scope of impacts we can make and people we can reach. From second-opinion searches to preventive screenings to 401(k) contributions, that activity enters the loop and lets us know if someone is eligible (or not) for another opportunity.
Assessing all information as a whole
Closed-loop success isn’t just about encounters, claims, and unique life events; it’s about noticing patterns. It’s about learning from people’s actions and their inactions. The loop allows us to put all of those findings together, understand how they inform each other, and use that assessment to determine the next message that is best for that person—at that particular time.
Life is ever-evolving, so why wouldn’t benefits usage act the same? Treating each finding as a one-off occurrence would be counterproductive, as it wouldn’t let us see the full picture of what a person is experiencing. When the full picture is there, better messaging occurs.
Without applying our robust data sets to the closed loop, generalized suggestions would be made instead of relevant ones. When we have the ability to use this data, it’s our responsibility to use it in the most meaningful ways.
Making a difference, one workforce at a time
Just as each employee has a unique story, so does each company. There are different pain points for every employer, just as there are different challenges for every person. The beauty of the closed loop is it also helps us identify new opportunities for employers to ease those pain points: opportunities for cost savings, new benefits, and everything in between.
Based on the priorities an employer shares with us, we ensure we’re measuring the most relevant outcomes that affect their strategies for their goals—which positions us to share the best findings to help them succeed in areas they care about.
To make this process truly effective, I suggest employers reflect on factors like:
- Which resources are you investing the most in?
- Which are getting the least engagement?
- Are there demographics of your workforce that are engaging less in certain resources?
- Which resources do you think employees are missing out on?
Answers to those questions can become part of the robust data set. Employer data, historic engagement and communications, and the ever-growing benefit ecosystem are all important pieces to the puzzle—which is why they’re all part of the closed-loop system. The most effective changes are different for every company, so this data analysis allows us to set goals that are unique to that company’s situation. Better yet, it allows us to identify which vendors need more utilization driven to them, what success should look like for each of them, and ultimately, what success should look like for the employer.
And bringing those results to life? That’s what closed-loop wins look like.
The nudges are little, but the outcomes are major
Having this system in place makes relevant results possible. Don’t be fooled: a bunch of small increases can truly move the needle on major impacts. In one case, raising engagement with a particular benefits vendor by 6% led to more than $330,000 in additional annual savings for the company.
So in a nutshell, why does the closed loop matter? It gives companies the leverage to amplify the value of the resources they’ve invested in, and it gives employees the right support to get the most out of their benefits—and life. These are the impacts that drive us.