Working To Address Rising Healthcare Costs
Hylant, Parkview Health, and Butler University are partnering to launch an innovation challenge aimed at reducing healthcare costs. The initiative will begin with an event in April 2025 at Butler University, where student teams will analyze data to identify key factors driving healthcare spending. In a second phase, an Innovation Competition will invite forward-thinking solutions for addressing rising healthcare spending based on the findings from the first phase.
Hoosiers suffer from higher rates of chronic conditions and significantly higher mortality rates compared to residents in neighboring states. These disparities result in overall higher healthcare costs and highlight the critical need for effective, lower-cost interventions to improve healthcare outcomes before acute care is needed.
Building on Parkview Health’s successful history of innovation challenges, a “Datapalooza” kickoff event will allow student teams to analyze Medicaid patient data provided by the State of Indiana’s Family and Social Services Administration. The student teams will be tasked with identifying key factors driving high healthcare costs, including specific health conditions and demographic influences.
Leveraging the factors identified during the Datapalooza, an Innovation Competition will solicit groundbreaking solutions to effectively reduce healthcare spending. Innovation Competition semi-finalists will be offered the opportunity to participate in an Accelerator program, or a program that provides resources and support for early-stage startups. The challenge concludes with a pitch competition, where Accelerator participants present their innovations for final judging and additional opportunities.
Hylant, an insurance brokerage firm with a deep understanding of employer perspectives on healthcare costs, joins this collaborative effort saying that the partnership reflects their commitment to helping employers and individuals manage risk in ways that not only protect their assets but also improve their overall well-being.
“This initiative is a great reflection of what we stand for at Hylant,” Nikki Galbraith, President of Hylant Fort Wayne, said. “We’re proud to partner with Parkview and Butler to drive forward innovative solutions that align with our mission of making a positive impact on healthcare.”
Decreasing healthcare costs is an important issue for Parkview Health, which committed in 2020 to $1 billion in rate reductions over five years. As the largest employer in northeast Indiana and a state leader in quality and patient satisfaction, Parkview Health views the partnership with Butler and Hylant as a natural extension of its commitment to furthering measures that support cost reduction.
“Preventive care, aligned with the social determinants of health, is crucial to reducing and avoiding expensive healthcare procedures and treatments. We’re excited to support a bold initiative that aligns with our mission to inspire well-being,” said Sarah GiaQuinta, senior vice president for community health and equity, Parkview Health. “This challenge will bring together diverse perspectives to address one of healthcare’s most pressing issues.”
The initiative is equally important to Butler University, a leader in health sciences education. Each year, Butler provides hundreds of graduates to the healthcare field through its College of Pharmacy and Health Sciences (COPHS).
“Butler is committed to addressing the ongoing challenges in our healthcare systems,” Bob Soltis, Dean of Butler’s COPHS, said. “We are launching a new strategic direction in health professions education that includes new academic programs, reimagined partnerships, and a commitment to community engagement. Our portfolio of new programs, which includes the launch of a B.S. in Nursing program in 2025, will focus on addressing the social determinants of health to better serve our community. This innovation challenge underscores our efforts to prepare the next generation of healthcare leaders by exploring innovative solutions to reduce healthcare costs.”
Parkview, Butler, and Hylant invite all interested parties to participate in the Innovation Competition. Additional information will be shared in the coming months.
Since 1935, Hylant has been helping clients identify and address risk-related challenges before they become unmanageable by delivering solutions unique to their circumstances. Today, the firm is among the largest privately held insurance brokerages in the United States, renowned for its expertise and high-touch service. Hylant offers insurance, employee benefits and risk management consulting services for businesses and individuals locally, nationally and internationally.
Parkview Health is a nonprofit, community-based health system serving a northeast Indiana and northwest Ohio population of more than 1.3 million. With more than 16,000 co-workers, Parkview Health is the region’s largest employer. Parkview has been serving the region since its early beginnings as Fort Wayne City Hospital in 1878. Parkview Health was formed in 1995, and its heritage of care and compassion continues today with 14 hospitals and a network of primary care and specialty physicians. Additional information may be found at parkview.com.
Based in Indianapolis—one of the heartland’s largest and most dynamic cities—Butler University is a nationally recognized comprehensive university encompassing seven colleges: Arts, Business, Communication, Education, Liberal Arts and Sciences, Pharmacy and Health Sciences, and Founder’s College. Approximately 4,500 undergraduate and 1,100 graduate students are enrolled at Butler, representing 48 states, two U.S. territories, and 31 countries. A Butler education is focused on giving students the tools they need to excel personally and professionally, as demonstrated by the University’s 98 percent placement rate within six months of graduation. Butler University is the No. 1 ranked regional university in the Midwest, according to the U.S. News & World Report Best Colleges Rankings, in addition to being included in The Princeton Review’s annual “best colleges” guidebook.
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