The Healthcare Performance Management Institute (HPMI) interviewed Dr. Ben Carson, Former Director of Pediatric Neurosurgery of Johns Hopkins and other key healthcare subject matter experts on the topic of Finding Greater Value in Healthcare Transformation and Consumerism. While their viewpoints were as varied as their professional backgrounds, four strategic themes from the individual conversations were identified and addressed in this white paper.
In response to major uncertainties in the commercial insurance market due to the sweeping new health reform law, many mid-sized and smaller employers—as well as their brokers and consultants - have pursued a shift to self insurance as an alternative means to reduce health plan costs.
According to a Price Waterhouse Coopers report, 89 percent of employers understand the connection between a healthy workforce and lower health insurance costs. As the healthcare landscape continues to change, brokers who embrace and master the principles of Population Health Management (PHM) can play an important role as trusted advisors by educating their clients on how this new technology-enabled, data-driven strategy can deliver more healthcare value for client dollars spent.
Employers benefit when effective workplace wellness programs improve the health of their workforce. Productivity is diminished when employees are ill and unable to perform their jobs and illness has hampered their productivity. To keep members healthier, employers at the forefront of change – who seek to improve their bottom-line by reining in spiraling healthcare costs – are focused increasingly on the twin strategies of workplace wellness and a higher level of employee engagement in healthy behavior.
A new study of nearly 3,000 executives working across more than 30 industries reports that top-performing organizations use analytics five times more than lower performers. The study supports a widespread belief among business leaders that analytics is a critical path to better healthcare value and that analytics improvements increasingly are a priority in their organizations.