Employee health benefit costs have skyrocketed in recent years and now ranks as the 2nd largest business expense for the average business, just behind payroll, and the largest problem that business owners are looking to address.
While the cost goes up, employees are often taking on a larger portion of the cost of coverage; and, while employees are having to pay more for coverage, they’re seeing their out of pocket costs increase as well. Businesses have settled for what they think is the best value, sacrificing benefits, and increasing employee out-of-pocket costs, just to afford coverage.
How we can help
The price for medical services and the price for prescription drugs depends on how much can be extracted from you, or from your health plan. We focus on reducing the dollars spent on claims to reduce an employers health benefit costs and help control four primary cost drivers which make up 90% of the cost of a health plan:
- Hospitalization and surgery
- Outpatient services (labs, imaging, emergency)
- Prescription drugs
- Physician services
We have the industry expertise to take your plan in the right direction. Each plan is built to address the specific savings and coverage needs of an employer, helping organizations go further with their health plan than ever before and at less cost.
The Real Problem of Healthcare
What is the REAL problem driving these costs? We have a healthcare transparency billing problem in the United States.
Could you imagine if you were to go into a grocery store, nothing had a price tag, and everyone had a different price to pay at the register? Maybe they don’t do that at the grocery store, but that’s exactly what they do at the pharmacy. The person behind you might pay half of what your copay was, with no insurance at all. How does that happen? And, in fact, that’s healthcare in general.
The retail price of a medical procedure might be $100,000, and the in-network agreed price might be $50,000, but the Medicare allowed amount might be just $10,000 and the cash price, if you don’t have insurance might be $15,000.
And, over half of all medical billing in the United States, is for unnecessary or overinflated medical claims.
Annual Savings Results for Small to Medium businesses.
Note: Savings vary based on businesses current and desired state
Over 50 employees:
- 860 employees - 13%
- 326 employees - 21%
- 79 employees - 48%
- 44 employees - 16%
Under 50 employees:
- 34 employees - 39%
- 11 employees - 32%
- 8 employees - 51%
- 2 employee - 43%
A healthcare billing transparency problem in the U.S. always a hot topic of discussions. Everyone is paying too much for healthcare!!!
Compliance Related Info: Employer Shared Responsibility Provisions