Does your company’s medical cost trend increase each year?
If so, you’re not alone. According to the Society for Human Resource Management, the average cost of employer-provided health insurance will rise six percent in 2019 to reach nearly $15,000 per employee, with employers paying 70 percent.
More and more benefits leaders are partnering with third-party healthcare navigation companies as a solution—to help maximize benefits ecosystem, improve outcomes, and lower healthcare costs across organizations.
Here are five ways these third-party companies can help lower your medical trend:
- Connect your employees with high-quality care. Choosing the right doctor can improve health outcomes, and avoid money wasted on incorrect treatment.
- Navigate employees using actionable data. Intensive care coordination, backed by hard data and supported by a knowledgeable care team, ensures employees are using the right benefits at the right time.
- Offer expert second opinions. Misdiagnoses, unnecessary treatments, and ineffective care drive spend without delivering better health outcomes. Expert second opinion services ensures employees get the care they actually need.
- Provide clarity around treatment options. Clinicians and other medical professionals provide guidance around diagnoses, symptoms, and treatment plan options—resulting in less time and fewer resources wasted figuring out next steps.
- Increase transparency around benefits and cost. Financial guidance tools combine and live experts help employees understand their benefits, avoid out-of-network care, and compare costs for procedures.
Cutting healthcare spend can be risky and challenging when done alone. Third-party companies can help you seamless and effectively manage costs while ensuring your employees receive a higher standard of care.