Understanding Decision Support Systems Key for Navigating Burgeoning Exchange Industry
Liazon Offers Deep Dive on the Mechanisms That Influence Employee Choice in Benefits Selection
Buffalo, NY (October 28, 2014) – Liazon, operator of the industry-leading private benefits exchange for businesses across the U.S., the Bright Choices® Exchange, has released a comprehensive white paper exploring decision support systems as they apply to benefits marketplaces. Decision support is one of the key differentiators in the burgeoning benefits exchange industry and the paper, Decision Support Systems for Benefits: Framework and Evaluation, offers a guidebook to understanding, choosing, and evaluating a decision support system.
Liazon’s paper profiles different types of decision support and applications for the benefits space, including education, filtering tools, calculators and recommendation logic. It also profiles best practices from other industries, suggestions for evaluating the success of a decision support system, and a handy checklist of what to look for when considering decision support products.
“Private benefits exchanges exist to give employees the ability to choose their own benefits from an array of plan choices,” said Alan Cohen, Liazon co-founder, chief strategy officer and co-author of the paper. “But not all benefits marketplaces are the same, and, as such, each marketplace should be evaluated largely on the breadth of meaningful choice in plan designs and the merits of its decision support system.”
As a private exchange platform that has developed successful decision support systems for a number of years, Liazon is uniquely suited to explain these different types of decision support. Additionally, Liazon understands how decision support tools can work together to fulfill private exchange’s promise of consumer engagement and a more efficient marketplace.
“The upside of having more benefits options is realized when there is a way to help guide individuals to make the best choices for them,” said Chris Condeluci, health care reform expert and co-author of the paper. “Decision support has become a powerful mechanism for improving the consumer experience in the benefits market.”
Download Liazon’s white paper here.
Founded in 2007, Liazon Corporation operates the industry-leading private benefits exchange for businesses. Its flagship product, the Bright Choices® Exchange, is an online benefits store that is changing the way employers and employees buy benefits. Bright Choices helps employers manage their health care costs by setting predictable budgets through a defined contribution funding strategy while guiding employees to purchase better coverage of health, dental, vision, life, disability and other benefits. Advanced cloud computing infrastructure and robust security protection ensures continual access and safeguards confidentiality of data transmission. Liazon works with top national and regional insurance providers and supports businesses nationwide through a distribution network of leading broker partners. Liazon was acquired by Towers Watson, a leading global professional services company, in November 2013. To learn more about Liazon and the Bright Choices Exchange, go to www.liazon.com.