IBI Releases New Absence Benchmarking Database with Expanded Data and Features
SAN FRANCISCO, Oct. 1, 2012 /PRNewswire/ — The Integrated Benefits Institute (IBI) has expanded its benchmarking program to include more data and more features for users. The program can be used to understand key dimensions of industry benefit program activity, and to measure how any company is performing compared to peers in its industry for short-term disability, long-term disability, family medical leave 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 latest version of the IBI benchmarking database includes data from all claims activity occurring during 2011. IBI benchmarking is based on more than 62,000 employers (up from 47,000 in 2010), 3.5 million claims (up from 3.0 million) and includes 972 industries (up from 767) from 13 major data providers. New this year, IBI has also added comparisons by state for disability, analysis by claim year in workers’ comp and new 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.”
About the Integrated Benefits Institute
The Integrated Benefits Institute (IBI) provides employers and their supplier partners with resources for demonstrating the business value of health. As a pioneer, leader and nonprofit supplier of health and productivity research, measurement and benchmarking, IBI is a trusted source for benefits performance analysis, research-based approaches, and forums for information and education. IBI’s programs, resources and expert member networks advance understanding about the link between–and the impact of–health-related productivity on corporate America’s bottom line. For additional information visit ibiweb.org.
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SOURCE Integrated Benefits Institute