The application of actuarial thinking and processes is a core component of the Prognosys value proposition. The implementation of an actuarial control cycle that is based on robust information and actuarial assumptions is an invaluable decision-making tool for healthcare funders, which includes Medical Schemes, Insurers, Government, Health Maintenance Organisations, Managed Care Organisations and Provider Groups.

Prognosys has a suite of management consulting offerings that assist clients in the healthcare environment to execute strategic projects. These offerings assist clients in strategy formation based on the intelligence inherent in the Prognosys health informatics capabilities, actuarial expertise and clinical insight. This approach ensures clients to turn intelligence into action.

Strategic Health Risk Management encompasses a combination of the Prognosys offerings. These offerings depend on the purpose and strategy of our clients that are in the business of managing health risk. An Enterprise Risk Management approach is taken to provide clients with an integrated health informatics system, and process that seeks to provide relevant information in the assessment of strategies, programs and interventions. This offering empowers clients to appreciate and integrate the systemic impact of such actions.

The Prognosys clinical advisory panel has a broad range of clinical and health funding expertise that is deployed as and when clients require such services.

A key Prognosys competency is to provide the processes and tools required to empower a change in the interaction and contracting between funders and providers of healthcare. These tools are aimed at evaluating and quantifying the value delivered by healthcare providers as opposed to managing the volume of services delivered. Tools such as the Lifechoice DRG and Provider Practice Profiling methodologies inevitable change the structure of contracting to reward appropriate clinical and financial outcomes for funders, healthcare providers and patients.

Big data presents healthcare orientated companies with an opportunity to fundamentally change the nature of the engagement with its clients. Healthcare management, in particular, is an area that is information driven and industry participants have utilised the Prognosys IT capability to assist the development and implementation of their strategies.

The experience of the Prognosys team, together with the actuarial, clinical, IT and management consulting capabilities lends itself to assisting employers, funders and governments to develop or adapt health funding and delivery systems to meet the needs of funders, healthcare providers and patients.

As information processing and reporting capabilities in the health funding industry has become more readily available, valuable information is being published by various bodies in the Industry. Prognosys’ data warehouse is utilised to organise some of the current and historical published information and together with clinical and actuarial skills, clients are provided with relevant and appropriate information enabling them to more meaningfully engage with their stakeholders on a strategic level.