What is the potential impact of VIIAD on the health insurance industry?
Based on estimates of annual claims in the U.S. of $1 trillion and the percent minimum savings reported by clients, the VIIAD platform represents potential savings of $150 billion if applied across the industry. According to the Self Insurance Institute of America (SIIA), and the Dept. of Health and Human Services, $1.9 trillion is spent annually in the U.S. on healthcare. 25% ($475 billion) is strictly administrative costs. VIIAD has the potential to remove billions of dollars in administrative costs.
