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32

BizVoice/Indiana Chamber – May/June 2017

“They were four separate reporting packages, and the reports

were usually a month or a quarter behind,” explains Hahn, who has

been with Omni Plastics in Evansville for slightly more than one year.

“Springbuk is pulling data into one portal; it’s live and there’s not a lag

time. I can log in and see one snapshot with all of our information

instead of going through 20 pages of reports.”

A complicated job is easier and, more importantly, the enhanced

analysis is producing results. Omni, which is self-funded and has more

than 90 employees, realized savings of $42.83 per employee per

month over the last plan year. In a country where employers will

spend about $1 trillion on medical care, wellness and employee health

in 2017, reducing costs is essential.

Missing link

Rod Reasen and Phil Daniels, co-founders of Springbuk, began

the road to where they are today eight years ago by starting a

Healthiest Employer award program. As it rapidly expanded across the

country, it accumulated survey data from more than 8,000 employers

covering more than 16 million lives. The finding revealed the lowest

scores, by far, on reporting and analytics.

“We said, ‘There’s a big problem here,’ ” Reasen shares. While

the challenge of being able to provide employers with data to make

more informed decisions on their health care spending was clear, there

was not a simple solution.

“Neither one us had raised venture capital before,” says Reasen,

who had a consulting practice in a brokerage firm, while Daniels’

background is in digital marketing. “We took a big leap to knock on

people’s doors (to ask) how do you raise investment capital and start a

software company, which neither of us had done.”

Daniels adds, “We didn’t come out of the typical software family

tree, the marketing software that the city (Indianapolis) knows so well.

Being in health care IT, that was more of a loosely shaped bucket.”

After several initial efforts came up short, the idea for Springbuk

was formed in 2014. A product was launched early the next year with

one channel partner (defined as brokers, consultants and wellness

vendors who work with employers on reducing health care expenditures),

Springbuk Provides

Predictive Health

Care Analytics

INFORMED

DECISIONS

By Tom Schuman

Indiana Vision 2025:

Attractive Business Climate

In her human resources and benefits role, Denise Hahn would typically receive health and wellness reports

from a third party administrator, pharmacy benefits manager, broker and on-site clinic.

Co-founder Phil Daniels says Springbuk targets middle market firms as being underserved in access to health care information.