IBI Introduces Absence Benchmarking Database with More Data, Better Features
The Integrated Benefits Institute (IBI) has expanded the data and feature set included with its health and productivity benchmarking database to help companies better understand benefit program activity and undertake peer comparisons to show how each company compares to others in their industry. IBI comparison tools compare companies by performance in short-term disability, long-term disability, FMLA, and workers compensation.
“All good business decisions start with analysis,” said Thomas Parry, PhD, IBI President. “If you’re in charge of benefits programs, you’re being held accountable for how they perform. To prove that you’re running these programs effectively, or to make decisions on how to improve them, you need to measure them first. Benchmarking provides a company with peer comparison data to enable confident decisions.”
The upgraded database includes information from all claims data recorded in 2011 and is based on over 62,000 employees and 3.5 million claims from 972 industries. The database draws its data from 13 major data providers. New comparisons added for 2012 include disability by state, workers compensation by claim year, and updated FMLA reporting metrics.
“This is an essential service for anyone working in the health and productivity field,” said Mary Tavarozzi, North America Absence and Disability Management Practice Leader at Towers Watson. “The breadth and depth of IBI’s database is unmatched in the industry.”