Durham, NC, April 24, 2006 - Asparity Decision Solutions announces the release of SimHR, an online suite of market research tools that enables companies to design and price health plan offerings that fulfill employee personal and financial needs, while controlling corporate health care costs.
With SimHR, companies analyze their corporate data, gathered from Asparity´s online decision support tools. Using Asparity´s patented technology in conjoint analysis, the decision support tools rank health plan options based on employee preferences and then aggregate the resulting data. Asparity then delivers detailed reports to help companies understand employee buying behavior. SimHR takes the next step by providing the data online so companies can access the information anytime. In addition, its market research tools give companies the ability to immediately evaluate how employees might respond to new benefit designs, plan offerings, and pricing strategies. SimHR is especially valuable in its ability to analyze market share for different scenarios, populations, locations, and businesses.
By relying on the same science corporations use to bring new products to the marketplace, the results give employers leverage to make more informed decisions about their benefit offerings. "From the beginning our goal was to help employers adopt a product development approach to their health care benefits," said Colleen Murphy, Asparity´s President and COO. SimHR is not intended to replace actuarial or claims analysis, but to complement such traditional techniques and information as vital parts of the strategic planning process. According to Murphy, "The old methods are just not enough anymore to control health care costs."
Asparity built and tested the SimHR suite with actual client data over the course of several years. Murphy noted that employees use the company´s decision support tools to become better health care consumers. "Employers can now use SimHR to become better health care suppliers," she said.
About Asparity Decision Solutions
Asparity provides decision support and data solutions in the areas of employee benefits, operational risk, and workforce talent management to companies in the United States and around the world. Asparity owns patented technology in conjoint analysis and advanced software applications that it delivers directly to corporate clients and through strategic partners. The company is headquartered in Durham, NC with offices in Amarillo, TX. To find out more, please visit www.asparity.com.