Posted on Nov 28, 2018 1:34:00 PM by Dave Demers, MPH, VP of analytics and business intelligence
Self-funding for healthcare benefits comes with risks and benefits. While your organization gains program control, flexibility in plan design, and more predictability in costs, you’re at greater risk for high cost claims, specifically from cancers and musculoskeletal conditions. If you’re wondering how to manage this issue, you’re not alone. A recent Mercer survey revealed that “managing high cost claimants is the top benefits strategy U.S. employers will be focusing on for the next five years.”
Posted on Jan 24, 2017 2:21:45 PM by Phil Davidson
There’s a simple formula employers and consultants should remember when they’re devising ways to keep healthcare costs low: excess costs follow excess risks.
Posted on Sep 2, 2015 9:00:00 AM by Phil Davidson
On-site health centers are quickly becoming the solution that many insurance brokers are turning to in order to help their clients increase the productivity, health, and retention of their employees, while at the same time reducing healthcare claims and direct costs.
Brokers play an important role in the process of on-site health center adoption. They are often the catalyst for adoption as they understand how the benefit plan structure and the on-site health center can work together to drive engagement and results (reduced cost of healthcare) for the employer. Onsite health services increase access to care, provide high quality care, and improve the benefits mix offered to the employees, all while helping the employer’s bottom line. Using this approach, for example, the Lexington-Fayette Urban County Government saved $24 million by adding this benefit for city and county employees.
Posted on Aug 27, 2015 9:00:00 AM by Phil Davidson
As individuals increasingly share the cost of health care they receive, consumerism in healthcare is on the rise. No longer are patients willing to wait for bills to arrive in the mail to find out what their financial responsibility is for an office visit or medical procedure—they are seeking upfront pricing and greater control over their out-of-pocket costs.
Where is the information to help them get the best value when they need to see a doctor? The first step in becoming an informed healthcare consumer is planning ahead. When patients understand their benefit plan, payment responsibilities, and the healthcare options available to them at work and in their community, they are well on their way to being a savvy decision-maker and proactive manager of their health.