Harnessing Data for Smarter Health Fund Management with Cora Opsahl from 32BJ

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In this encore episode of Relentlessly Seeking Value, Stacey Richter talks with Cora Opshal, Director of the 32BJ Health Fund, about the imperative for employers and unions to obtain and effectively use their health data. The conversation details the significant benefits of data analytics, such as smart decision-making, reducing waste, and forecasting financial trends. Various case studies, including kicking out an expensive hospital network to save millions and offering low-cost maternity and joint replacement programs, are discussed. The episode emphasizes the critical role of data ownership and transparency in managing healthcare costs and improving benefit designs for members.

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06:53 How much data does 32BJ Health Fund have, where do they get it, and how do they use it?

08:52 How did 32BJ Health Fund successfully demand their data from 100% of their vendors?

09:42 “We feel it’s really important that we own this information ourselves.”

10:05 “It always concerns me—if a vendor doesn’t want to give you the information, what are they hiding?”

10:32 “It’s not just getting the data; it’s then using the data.”

13:41 “Without data, you’re really just taking a guess; and guesses are never gonna get you where you need to go.”

15:19 EP285 with Dawn Cornelis.

15:40 Is the cost of creating a data analytics team worth the cost savings of those data discoveries?

19:03 “The use of data has really built our knowledge.”

20:52 “It’s really important to us that as we make benefit decisions, we’re doing it smartly.”

25:27 EP358 with Wayne Jenkins, MD.

25:38 How is 32BJ Health Fund making their data knowledge actionable?

28:11 “If we can figure out how to make telehealth accessible … there may be an opportunity for telehealth … to upset some of these … monopoly systems or low-choice options.”

30:22 “It’s really easy to think that we can solve this problem through benefit design … but in the end … it’s the price.”