14 Strategies for Lowering Health Care Costs
The numbers are staggering. Over the last 50 years, health care costs have risen at 8
times the rate of inflation. Costs per employee are almost $15,000 a year. With costs
projected to increase at twice to three times the rate of inflation again next year,
more and more payers are implementing a wide range programs in their fight to
reign in their health care spend. Integrated cost-containment programs are proving
effective for both cost containment and employee satisfaction. Offering employee
rewards, telemedicine and medical bill reviews are three of the programs.
Driving Down the Cost of Medical Bills
Stephen Parente, professor of health finance at the University of Minnesota,
estimates that 30-40% of medical bills contain errors. Claims negotiation and
repricing, claims editing of facility and professional claims, and line-item reviews
of large dollar claims to identify costly errors in the bills are all highly effective
cost-containment tools. Using them and others, H.H.C Group has saved its clients
hundreds of millions of dollars. To learn more about the ways H.H.C. Group can help
you ensure your clients are paying only the appropriate amounts for the healthcare
services their employees/member receive Click here
Ineligible Dependents and What to do About Them
By some estimates nearly 10% of dependents enrolled in employee health and
welfare plans are not eligible to be in those programs. Employers end up paying
health insurance premiums and medical claims for ineligible dependents for a
number of reasons. Children pass the age of 26, spouses get jobs, people get
divorced and employees are unaware of the need to notify the plan sponsor.
Unfortunately, sometimes employees appear to mischaracterize someone as
a dependent intentionally. Fortunately, employers can implement procedures
both at time of hire and on an ongoing basis to minimize or eliminate ineligible
dependents from their plans. To learn what these best practices are.
Prescription for Bringing Fairness to Drug Pricing
Prices for prescription medications continue to soar. Prices of the 20 most commonly
prescribed brand-name drugs for seniors alone have risen nearly 10 times more than
the annual rate of inflation over the past five years, according to a congressional report
released earlier this year. We in the United States pay significantly more than people in
other countries for prescription drugs, sometimes as much as four or five times more.
However, four straightforward policy solutions could bring fairness to U.S. drug pricing
and parity with the prices paid for drugs by other industrialized countries.
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