Here are five group benefits you should consider if you want to keep valuable employees and maintain your good risk profile from your health insurance carrier:
Large cases (those that exceed $10,000) account for more than 80 percent of medical expenditures. During your renewal period, ask your carrier to see if your plan has Large Case Management and a dedicated manager that guides those cases.
If not, shop around and find one that does. For every dollar spent on a large case management plan, you will save at least eight dollars in claim dollars spent, which helps your risk profile.
Direct primary care, sometimes referred to as “retainer medicine,” has become increasingly popular in recent years. Doctor/patient relationships are built on trust, but under many current fee-for-service (FFS) payment systems, almost half a family physician’s workday is spent outside of face-to-face visits with their patients often in conducting vital follow-up care with other doctors and specialists.
With DPC, the doctor’s practice is more appropriately compensated for providing care and allows them to spend more time interacting with patients. This, in turn, provides better care and, indirectly, lower costs.
Tele-doctors and telemedicine has been shown to reduce unnecessary non-urgent emergency hospital visits and eliminates transportation expenses for regular check-ups. The American Hospital Association recently reported telemedicine saved 11% in costs and claims.
Tele-doctors are available 24/7, and can prescribe medication, refill prescriptions, order and review lab tests and more, all online. Patients can get medical advice and answers from the convenience of home…or just about anywhere for that matter.
During renewal season, see if your carrier offers this benefit, which can further reduce your risk profile.
With large group practices becoming increasingly popular in the medical industry, patients can get “lost in the shuffle.” To combat this loss of personalization and prevent patients from feeling like a number rather than a person, patient advocacy programs have become necessary.
Patient advocacy programs are basically guest relations for patients within a large medical care facility. These programs provide a designated person(s) who can address patient concerns.
No one wants to feel lost and helpless, especially when it comes to healthcare, which is why these programs are highly valued by employees when it comes to health-related benefits.
Active wellness programs are designed to improve and promote health and fitness that’s offered through the work place. The program allows the employer to offer employees premium discounts, cash rewards, gym memberships, and other incentives to participate.
Some versions include programs to help stop smoking, diabetes management programs, weight loss programs, and preventative health screenings. Active Wellness Plans can save on long-term health care costs, and reduce absenteeism.
Employees find health incentives extremely valuable, while insurance companies can see the benefit of fewer claims from healthier employees.
So, the next time you get a minimal rate increase on your insurance policy renewal, you’ll know what to do to become an HR Superhero – go shopping! Don’t forget to print this list.