OptumRx, one of the big three pharmacy benefit managers in the industry and subsidiary of UnitedHealth Group, made headlines last week in announcing that they would pass along pharmacy discounts from drug manufacturer rebates to all new employer customers.
This recent piece in ProPublica is the most important piece ever written on benefits. Not surprisingly, all 10 of the top benefits consultancies nationwide either declined to comment or didn’t respond.
The Curtain has been pulled back on brokers taking financial incentives from insurers. As a Health Rosetta certified advisor, pieces like this from Marshall Allen at ProPublica (in conjunction with NPR) are critical to build a more transparent healthcare system: https://www.propublica.org/article/health-insurance-brokers-cost-commissions-bonuses.
Knowledge is power, especially when it comes to price variations in healthcare. Many times, the best pricing exists outside of your health plan, but how to get this information in front of employees is the biggest challenge. Even the most transparent PBM arrangements, can’t protect against uninformed decisions.
Value-Based Primary Care is the cornerstone of high-performing health plans. Beyond an exceptional clinical experience and downstream impact of removing insurance from the doctor-patient relationship, many practices share their discounted fees on tests, labs, and medications
Dave Chase, co-founder of Health Rosetta, penned an article titled “Have PPO Networks Perpetrated The Greatest Heist In American History?” Originally published in Forbes in 2016, it is an eye opening account of the pervasive waste in our healthcare system.
If you’ve attended any of our healthcare summits or watched our DisruptHR talk, you probably recall the case study we shared regarding Power Johnson Power System’s incredible healthcare initiatives. Don’t remember? PJ Power Systems was so successful in implementing Health Rosetta-style plan design strategies that the leadership team decided to take the entire team (all 100+ employees) on an all-expense paid trip to Vail, Colorado.
The Washington Post published one of the most perceptive op-eds on Labor Day that I’ve seen in a while re: the alarming impact that healthcare costs are having on employer wages: Where Did Our Raises Go? To Healthcare. Likely not new information - although, the way it’s presented will have every executive re-thinking their renewal strategy.
Two of the main take-aways:
1. Money once reserved for wage increases is now diverted to pay for employer-provided health insurance. A new study provides stunning estimates: For the bottom 60 percent of U.S. workers, wage gains have been completely wiped out by contributions for employer-provided health insurance.
2. For the bottom 50% of workers, employers’ health insurance contributions averaged 30 to 35% of companies’ total compensation packages. Companies also increased the premiums that workers themselves must pay to get coverage. From 1999 to 2015, worker premiums for a family plan more than doubled in inflation-adjusted dollars, from about $2,000 annually to almost $5,000.
All is not lost:
The Health Rosetta provides the blueprint for wise healthcare purchasing. They've uncovered the path to reduce costs drastically while improving benefits and health outcomes.
We encourage you to join us on October 11, 2018 to hear from experts across the healthcare ecosystem providing actionable insights and strategies to implement the Health Rosetta principles. Check out our all-star line-up:
- Dutch Rojas - CEO & Founder: Sano Surgery
- Al Lewis - Co-Founder & CEO: Quizzify
- Cheryl Kellond - Co-Founder & CEO: Apostrophe Health
- Robb Hicks, MD - Primary Care Physician & Founder: Direct Patient Care STL
- Curits Colbert - Principal, Simplified Insurance
At the cornerstone of our Health Rosetta, the blueprint for high-performing health plans, is Direct Primary Care - a direct-to-patient care model that cuts out the insurance middle-man.