Lockbox Overview

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Meet Your Lockbox

The Lockbox is a secure "software-as-a-service," hosted by Abett on behalf of a benefits plan sponsor. 

Isn't this a data warehouse? No, it is not. A traditional data warehouse is just another black box. Data goes in, but it never comes out. 

The Lockbox is like the SWIFT network, but for healthcare instead of financial services. The Lockbox seamlessly moves data between your plan partners, but always gives the employer total visibility and total control. 

Speed Wins

A Fortune 100 employer needed to onboard a new point solution. The new solution was fully integrated with the employer’s Lockbox within eight hours of introduction, with no implementation fees. 

From the Benefits Director: “We love working with Abett. If there’s ever an opportunity for us to help promote or share our satisfaction in this relationship, please let us know. We are behind you guys." 

Information Security

A Fortune 100 employer operates critical infrastructure in a sensitive industry. As an organization, it worries about issues like North Korean hackers and critical infrastructure that keeps America running. 

This employer takes information security very seriously, in all aspects of its business. Its HIPAA Compliance Officer prioritizes protecting the enterprise and its information, even if it means foregoing relationships with service providers that could create value for the plan. If the choice is between protecting data and saving money, this enterprise must prioritize the protection of its data. 

The Lockbox gives this enterprise everything it needs. By systematically de-identifying data and using anonymous but persistent IDs, this enterprise safely shares data with third parties which in turn create value for the plan. It does so without compromising its security standards. 

From the Benefits Director: "If Abett wasn't so sophisticated on the back end…we probably wouldn't be sending out our data to anyone."

Immediate Cost Savings

By implementing the Lockbox, a Fortune 500 employer decreased its data-feed fees by 73%. Within six months of implementing two cost-containment solutions, it identified another $11M in recoverable charge. 

From the Benefits Director: “I didn’t realize just how much we were paying for data feeds. A centralized Lockbox is more efficient, and less costly. Also, I wouldn't have known which cost-containment solutions to use. The Lockbox lets me easily work with multiple options, without having to go through complex implementations with each of them.” 

New Horizons

A Fortune 500 employer wanted five new point solutions in 2021, but it had never implemented more than two new solutions in a single year. Via the Lockbox, it successfully launched all five solutions in 2021. In 2022, the employer is able to closely evaluate how those solutions are performing and can quickly and easily replace them with new solutions if they do not create value. 

From the Benefits Director: "I am beyond excited you are able to make this happen so easily for us. This would have been a nightmare trying to get all of these data feeds from the vendors!"