BOSTON, July 27, 2018 /PRNewswire/ -- New England employer health plan benefits managers and benefits advisors will meet on Monday and Tuesday, July 30-31 at the Sheraton Boston to learn about and discuss pragmatic ways to improve health outcomes while achieving up to 20 percent savings in Year 1 and 40 percent by Year 5. A major theme of the 4th Annual Employer-Health System Direct Contracting and Strategic Partnerships Summit, this focus on "high performance health care" has fostered the rapid growth of a community of health care purchasers and advisors who have realized that reasonable solutions are readily available, though typically not through mainstream health plans.
Employers realize that conventional health care arrangements are not controlling health care cost growth. Especially in high tech areas like specialty drugs and cancer treatment, exorbitant pricing is often unrelated to improved outcomes. But those costs curtail profits, limit employee compensation and divert resources away from other business priorities. A decade ago, PricewaterhouseCoopers estimated that more than half (54.5%) of all American health care spending delivers no value, and little has changed since. The new organization formed by Amazon, Berkshire Hathaway and JP Morgan aimed at rationalizing health care is a clear statement of employers' loss of confidence in existing arrangements.
The conference presentations will emphasize three practical initial steps that can help employers gain direct control of their health plans' quality and cost, and cut unwarranted costs. First, fully insured employers with as few as 50 employees can move to partial self-insurance, for broader control over benefit design - e.g., what's covered and how the incentives work - as well as better access to information about the health plan's cost, quality and safety performance.
Next, independent third party administrators (TPAs) are more likely than the major health plans' Administrative Services Only (ASO) units to meet basic employer requirements, with accountable reporting, access to more cost effective services and value-based direct contracting arrangements, and financial guarantees for performance.
Third, a growing number of "high performance" health care organizations are emerging in high value niches,[1] consistently delivering better than typical health outcomes and/or far lower cost than conventional approaches.
About World Health Care Congress
The Annual World Health Care Congress, organized by World Health Care Congress, will take place from April 28 to May 1, 2019 at the Washington Marriott Wardman Park Hotel in Washington, United States Of America. See www.worldhealthcarecongress.com . The conference focuses on critical challenges and opportunities including the impact of ACA implementation on health care businesses one year in, payer and provider consolidation, new approaches to value-based payment, and novel partnerships with the true potential to move the needle on care coordination and delivery.
Contact: Haritha Krishnarathnam, Director Employer Events, [email protected], 781-939-2432
About the Health Value Awards
The Health Value Awards recognizes health care vendors, brokers and purchasers who consistently deliver higher value care that can be emulated throughout the continuum of clinical and financial risk management See www.healthvalueawards.com
Contact: Brian Klepper, PhD, Principal Worksite Health Advisors, b[email protected]; 904.343.2921 or Lynne Crowley, MHA, Health Value Awards Manager, [email protected] 781 939 2425
About the Validation Institute
The goal of Care Innovations™ Validation Institute's is to help organizations involved in population health — from Health Plans to Employers to Vendors — adhere to the highest standards of validity, allowing them to compete on the basis of integrity and performance. See https://www.validationinstitute.com/. The Validation Institute's Trusted Community is made up of companies that have had outcome claims and/or contractual language validated by one of our 3rd party, independent validators.
Contact: Linda Riddell, Strategic Initiatives Manager, Validation Institute, [email protected], 207.807.4771
[1] We have found high performance vendors in a range of clinical, financial and administrative risk management sectors: e.g., cardiometabolic care, musculoskeletal care, cancer management, drug management, imaging management, medical claims review, ambulatory surgery, large claims resolution, etc.
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Employers realize that conventional health care arrangements are not controlling health care cost growth. Especially in high tech areas like specialty drugs and cancer treatment, exorbitant pricing is often unrelated to improved outcomes. But those costs curtail profits, limit employee compensation and divert resources away from other business priorities. A decade ago, PricewaterhouseCoopers estimated that more than half (54.5%) of all American health care spending delivers no value, and little has changed since. The new organization formed by Amazon, Berkshire Hathaway and JP Morgan aimed at rationalizing health care is a clear statement of employers' loss of confidence in existing arrangements.
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The conference presentations will emphasize three practical initial steps that can help employers gain direct control of their health plans' quality and cost, and cut unwarranted costs. First, fully insured employers with as few as 50 employees can move to partial self-insurance, for broader control over benefit design - e.g., what's covered and how the incentives work - as well as better access to information about the health plan's cost, quality and safety performance.
Next, independent third party administrators (TPAs) are more likely than the major health plans' Administrative Services Only (ASO) units to meet basic employer requirements, with accountable reporting, access to more cost effective services and value-based direct contracting arrangements, and financial guarantees for performance.
Third, a growing number of "high performance" health care organizations are emerging in high value niches,[1] consistently delivering better than typical health outcomes and/or far lower cost than conventional approaches.
About World Health Care Congress
The Annual World Health Care Congress, organized by World Health Care Congress, will take place from April 28 to May 1, 2019 at the Washington Marriott Wardman Park Hotel in Washington, United States Of America. See www.worldhealthcarecongress.com . The conference focuses on critical challenges and opportunities including the impact of ACA implementation on health care businesses one year in, payer and provider consolidation, new approaches to value-based payment, and novel partnerships with the true potential to move the needle on care coordination and delivery.
Contact: Haritha Krishnarathnam, Director Employer Events, [email protected], 781-939-2432
About the Health Value Awards
The Health Value Awards recognizes health care vendors, brokers and purchasers who consistently deliver higher value care that can be emulated throughout the continuum of clinical and financial risk management See www.healthvalueawards.com
Contact: Brian Klepper, PhD, Principal Worksite Health Advisors, b[email protected]; 904.343.2921 or Lynne Crowley, MHA, Health Value Awards Manager, [email protected] 781 939 2425
About the Validation Institute
The goal of Care Innovations™ Validation Institute's is to help organizations involved in population health — from Health Plans to Employers to Vendors — adhere to the highest standards of validity, allowing them to compete on the basis of integrity and performance. See https://www.validationinstitute.com/. The Validation Institute's Trusted Community is made up of companies that have had outcome claims and/or contractual language validated by one of our 3rd party, independent validators.
Contact: Linda Riddell, Strategic Initiatives Manager, Validation Institute, [email protected], 207.807.4771
[1] We have found high performance vendors in a range of clinical, financial and administrative risk management sectors: e.g., cardiometabolic care, musculoskeletal care, cancer management, drug management, imaging management, medical claims review, ambulatory surgery, large claims resolution, etc.
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SOURCE World Health Care Congress
