The Wakely Pricing Model is an Excel-based tool designed to support premium rate development, benchmarking, and healthcare cost and utilization analysis. The tool is similar to actuarial pricing models offered by other healthcare consulting firms, but Wakely’s version offers a clean user interface and additional functionality.
A key feature of the Wakely Pricing Model is the ability to input front-end selections such that the underlying claims experience comes from a specific population mix (such as metal tier and subsidy level). This enables users to more appropriately estimate future costs according to the type of membership mix they plan to enroll. It also facilitates loading of experience data so that it can be used in addition to or instead of the “manual dataset” underlying the model. To review some key screen shots from the model, click "View" below.