Break through the data barrier.
Don't let data stand in your way. Take benefits to new heights with Lockbox™—the new data solution loved by innovative benefits teams.
Benefits Today
Solution
You can add it to your existing data warehouse or simply replace your data warehouse with it.
Lockbox provides the same functionality as data warehouses: data management, storage, and analytics.
Data Sharing Obstacles
When your plan data is in a traditional data warehouse, it stays there. You can’t share it with point solutions or anyone else. And if you can’t share data, you can’t do the innovative things that leading employers are doing, like turning point solutions on/off easily. Instead, you’re stuck with:
- Nightmare implementations
- Manual program work
- Costly member data admin
Nightmare Implementations
When you use Lockbox as your data warehouse, or add Lockbox to your existing one, your data isn’t stuck anymore. Lockbox empowers your team to seamlessly share data directly with an unlimited number of authorized vendors – no carrier involvement required. Plus, we take the messy data portion of implementations off your plate so you can focus on more important things.
- Implementations take weeks, not months
- Point solutions start sooner, make quicker impact
- Teams are more productive when freed from data work
Manual Program Work
Abett solves this by automating the back-and-forth intake and delivery of data feeds to people and systems – no manual steps required.
- You can automate programs, saving team time and reducing errors
- You have the bandwidth to run more programs simultaneously
Costly Member Data Admin
Lockbox solves this by sharing eligibility data for you and handling the messy data cleanup at no cost. That way, you don’t need to use a benefits admin for anything other than member enrollment and support and you can renegotiate rates, saving on costs, and minimizing your relationship in the process.
- Tens of thousands of dollars in cost savings
- Data errors significantly reduced or eliminated
- Relationship with benefits admin vendor is minimized
Data Stewardship Hurdles
Today, many benefits teams are in the crosshairs of auditors and lawyers because they are not truly in control of plan data. They risk legal liability and unwanted press coverage because of:
- Frequent oversharing
- Fiduciary responsibility breaches
Frequent Oversharing
Lockbox solves this by give you the ability to stipulate the data each point solution should and should not have. In this way, you can easily filter out unnecessary data and put a stop to oversharing.
- You control what data is shared
- Oversharing is eliminated
- Legal liability is reduced
Fiduciary Responsibility Breaches
Abett solves this by first obtaining all of your benefits plan data from your carriers and providers for you. Then giving you unfettered access to it.
- You have all your data
- You are back in compliance
- Risk is reduced
Data Access Struggles
Few employers have full access to their data today. This is because crucial claims data – like financial and provider data together – is still held by carriers. While you are legally entitled (and obligated) to access this data, carriers are reluctant to proactively provide it, causing a:
- Lack of transparency
Lack of Transparency
Abett solves this by empowering you to obtain 100% of your claims-level data. Then, Lockbox stores your data and provides you unfettered access to it for analysis and beyond.
- You identify more cost saving opportunities
- You find insights that help you better evaluate and manage programs
- You see patterns in the data that alert you to issues before they balloon out of control
Data Analysis Headaches
The way benefits teams get insight from their data is improving all the time. Yet there is still a lot left to be desired. Common problems include:
- Hard-to-find answers
- Inaccessible expertise
Hard-to-Find Answers
Lockbox solves this by integrating your data into the most user-friendly enterprise analytics tools available — Power BI, Tableau, and more — so looking at your data and finding answers to questions is quick and easy. What’s more, Lockbox is the only data solution that lets you search your entire data set as a whole. Result? The only limit to the questions you can answer is the data you have.
- Your team, and their work, is data-driven
Inaccessible Expertise
Unfortunately, using consultants for this purpose is prohibitively expensive and the big questions are out of reach of their expertise. Abett solves this by providing expert analytics services so the best Health Economics and Outcomes Research (HEOR) expertise is a phone call away.
- You can make big things happen
Lockbox
Lockbox is a new data solution that combines with — or replaces — your data warehouse. It has 3 key capabilities: data exchange, data acquisition and storage, and data analysis.