Introducing the lockbox
Get total visibility and control over your benefits data. Expedite your benefits strategy execution.
The Lockbox is more than a data warehouse. It's a data logistics hub and data harmonization tool that supplies real-time analytics you can use to save time and money. We give you complete price transparency and vendor autonomy. Let's expedite and better measure the impact of your benefits strategy.
Meet Your Lockbox
Speed Wins
A Fortune 100 employer needed to onboard a new point solution. The new solution was fully integrated with the employer’s Lockbox within eight hours of introduction, with no implementation fees.
Information Security
A Fortune 100 employer operates critical infrastructure in a sensitive industry. As an organization, it worries about issues like IT Hackers and critical infrastructure that keeps America running. This employer takes information security very seriously, in all aspects of its business. Its HIPAA Compliance Officer prioritizes protecting the enterprise and its information, even if it means foregoing relationships with service providers that could create value for the plan. If the choice is between protecting data and saving money, this enterprise must prioritize the protection of its data. The Lockbox gives this enterprise everything it needs. By systematically de-identifying data and using anonymous but persistent IDs, this enterprise safely shares data with third parties which in turn create value for the plan. It does so without compromising its security standards.
Immediate Cost Savings
By implementing the Lockbox, a Fortune 500 employer decreased its data-feed fees by 73%. Within six months of implementing two cost-containment solutions, it identified another $11M in recoverable charges.
New Horizons
A Fortune 500 employer wanted five new point solutions in 2021, but it had never implemented more than two new solutions in a single year. Via the Lockbox, it successfully launched all five solutions in 2021. In 2022, the employer is able to closely evaluate how those solutions are performing and can quickly and easily replace them with new solutions if they do not create value.
Lockbox Implementation Timeline
The last six employer Lockbox implementations, as of March 2022:
Two Lockboxes were fully operational within 30 days of an executed contract.
One Lockbox took approximately six months to launch, for a variety of reasons.
Three Lockboxes were fully operational within 9 weeks.
In most cases, your Lockbox will be fully operational within a few months of executing a software licensing agreement.
Implementation
Alignment
The process begins with a brief kick-off meeting, in which our teams identify how Abett can best serve you and your company. Key objectives include identifying the data partners to integrate and any constraints that you want to enforce on the use of your data.
Execution
Once objectives are clear, the Abett team takes the lead and gets to work. We coordinate with data partners and implementation integrations on your behalf. You have oversight and executive authority over the process, but Abett does the work for you. Little to no time or effort is demanded from you or your team.
Realization
Within a few months, you are in control of your data. This new environment empowers you to create and manage a new ecosystem, in which you can more easily realize lower costs and better population health.
Time Saving
With all the year-round planning required for your employees, the Lockbox condenses data from multiple providers and what could take months into real time data. You can make more informed decisions without the wait of having to go another year with a provider you lack ROI from.
Download the Security Whitepaper
This security paper describes the security by design principles that are incorporated in the Lockbox and explains how your data stored in the Lockbox is protected from unauthorized access or modification. Download Abett's Lockbox Security Whitepaper to learn more!
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