What is BrightSide? This product is a decision support tool that provides leadership teams with the information necessary to make key and strategic product decisions.
What does BrightSide do? The tool organizes and assesses in a holistic way, with a single view, relationships between many variables to provide decision-making guidance on ways to increase overall portfolio performance. This includes which products to sunset, tweak or leave alone; gaps in the portfolio (whether intended or missed opportunity); and eventually what new products to consider to enhance your portfolio. The following are the broad areas that the tool addresses:
Product performance including the cost of health care or medical expense ratio, but additionally other factors such as network impacts, membership trending, in and out of network experience;
Overall: The output of BrightSide will still warrant ultimate assessment and decision-making by responsible organization leadership. The decision-making framework helps organize inputs and makes it easier to rationalize go/no go decisions on products and improve complete portfolios.
What does BrightSide do? The tool organizes and assesses in a holistic way, with a single view, relationships between many variables to provide decision-making guidance on ways to increase overall portfolio performance. This includes which products to sunset, tweak or leave alone; gaps in the portfolio (whether intended or missed opportunity); and eventually what new products to consider to enhance your portfolio. The following are the broad areas that the tool addresses:
Product performance including the cost of health care or medical expense ratio, but additionally other factors such as network impacts, membership trending, in and out of network experience;
- Actuarial pricing and projections (New products)
- Competitive positioning;
- Sales feedback
- Implementation considerations (New products)
- Operational feasibility;
- Financial performance (Forecasts v. Actuals)
- Legal and regulatory (Currently high impact)
- Strategic fit
Overall: The output of BrightSide will still warrant ultimate assessment and decision-making by responsible organization leadership. The decision-making framework helps organize inputs and makes it easier to rationalize go/no go decisions on products and improve complete portfolios.