Data Driven Financial Decision Support
Quest Analytics Group develops and distributes actuarial, sourcing and audit solutions that utilize raw claims data as the basis for analysis and recommendations. We've spent a decade designing and implementing procurement tools for insurance companies, HMOs, benefit brokerages, hospitals, and self-funded employer groups (ranging to the Fortune 50).
In the summer of 2000, Quest's founder (Mike Sammons) developed a procurement strategy known as cost model based discount analysis. Previously, purchasers had no means to base sourcing relationships upon predictable claims cost information (i.e., they were forced to source based upon plan administration fees which range between 3-10% of claim costs).
The cost model analysis concepts were ultimately trademarked by the Blue Cross Consortium (i.e., Consortium Health Plans) as "ClaimsQuest". Today, ClaimsQuest users include a virtual "who is who" of the Fortune 500. Over the course of the past decade, more than 2,000 studies have been completed. Following the success of ClaimsQuest, and based on purchaser demand, we initiated the research process of a parallel pharmaceutical procurement solution.
In the summer of 2000, Quest's founder (Mike Sammons) developed a procurement strategy known as cost model based discount analysis. Previously, purchasers had no means to base sourcing relationships upon predictable claims cost information (i.e., they were forced to source based upon plan administration fees which range between 3-10% of claim costs).
The cost model analysis concepts were ultimately trademarked by the Blue Cross Consortium (i.e., Consortium Health Plans) as "ClaimsQuest". Today, ClaimsQuest users include a virtual "who is who" of the Fortune 500. Over the course of the past decade, more than 2,000 studies have been completed. Following the success of ClaimsQuest, and based on purchaser demand, we initiated the research process of a parallel pharmaceutical procurement solution.
Our research was fundamentally linked to an eighteen month engagement with IMS Health (NYSE: Rx).
This endeavor led to an analysis methodology designed to capture the financial effect of both discounts and drug mix…ie, "discount off of what". The downstream beta test work included purchasers such as Bank of America, Bridgestone Firestone, Arvin Meritor, and Neilsen Media.
In the Summer of 2007, Sammons founded Transparent Systems (Quest Group operates as product distribution and marketing platform) and introduced "RxQuest” into the domestic marketplace. Subsequently, we have conducted more than 200 consulting engagements with purchasers ranging from 1,000 employees to Fortune 50 companies.
Over the course of the past 20 months, we have launched a sourcing product linked to workman’s compensation, and we have a research project underway relating to dental procurement concepts and methods. In addition, we expect to launch an institutional pharmacy product in the fourth quarter of 2011.
This endeavor led to an analysis methodology designed to capture the financial effect of both discounts and drug mix…ie, "discount off of what". The downstream beta test work included purchasers such as Bank of America, Bridgestone Firestone, Arvin Meritor, and Neilsen Media.
In the Summer of 2007, Sammons founded Transparent Systems (Quest Group operates as product distribution and marketing platform) and introduced "RxQuest” into the domestic marketplace. Subsequently, we have conducted more than 200 consulting engagements with purchasers ranging from 1,000 employees to Fortune 50 companies.
Over the course of the past 20 months, we have launched a sourcing product linked to workman’s compensation, and we have a research project underway relating to dental procurement concepts and methods. In addition, we expect to launch an institutional pharmacy product in the fourth quarter of 2011.