There is no doubt that many organizations require cost reduction solution even though wellness programs and other long-term cost containment strategies have their place in healthcare cost management. Organizations are searching for metric-based pricing health plans due to recent increases in health plan claims. That’s where several healthcare solution companies have come to their support by providing them with appropriate application and program.
The full-service solution of healthcare solution companies works with a company’s health plan for the purpose of promoting responsible and sustainable management of healthcare costs. They offer the strongest member advocacy and legal support to relentlessly ensure fairness within healthcare. They are focused on building direct partnerships between employers and healthcare providers in the communities they serve, foster an open dialogue, and create a path forward to drive positive change.
The employers that are on a lookout for lower costs and more transparency need options beyond the traditional fully-funded model. That’s why a good service provider believes in metric-based pricing health plans, which are a greater adoption of self-insurance models. This plan opens are a door for flexible options that can make employer health plans more tailor-made and customizable to meet the needs of their workforce and business.
When it comes to self-funded plans or metric-based health plans, it is important to note that reference-based pricing can play a pivotal role. It can help take cost savings to the next level. With this innovative approach, the assessment and payment of medical claims are prepared based on the provider’s actual cost for the service delivery and using medicare payment data as a benchmark for reimbursement. This solution can lead to massive cost savings solutions for organizations that can be passed on to employers in the form of lower out-of-pockets or benefit programs.
Progressively, establishments and state governments that are using reference-based pricing have a positive view when it comes to their experiences. His solution has proven to provide both quick and long-term results that can improve budget management and fuel growth and expansion.
Direct primary care is another modern model. Self-insured employers are exploring this method. In the direct primary care scenario, employers have the option to directly contract with specific primary care doctors. They can choose to create a network of healthcare providers for employees. With the direct primary care in place, you can be able to get the most from a benefit plan while paying less. According to experts, direct primary care cost can go up to an average of $77 of the amount per patient per month.
Also, organizations that are striving to be health care professionals for their employees have chosen to roll out options like onsite clinics and pre-authorization for drugs. In general, onsite clinics are an excellent method to improve the bottom line, outcomes, increase productivity, and manage costs. According to a 2018 survey, 33 percent of U.S. employers with over 5,000 employees have been found to offer general medical work site clinics. This data was up from 24 percent in 2012. As per other reports, employers that have stepped into onsite clinics have been able to reduce medical care costs up to 64 percent.
These are popular and easy methods and plans to reduce healthcare costs within your organization. It is advisable to find a reputable healthcare service provider, and go for the best metric-based pricing health plans. These are service providers, you can find online. However, interests matter a lot when it comes to healthcare costs.