The US healthcare system is inefficient, and employers like you have an opportunity to drive transformation in the healthcare market by focusing on a few key strategies. Many employers are looking beyond cost-shifting to focus on paying for value and better quality. New provider collaborations, such as Accountable Care Organizations (ACOs), increase the visibility of quality. ACOs can change provider incentives to reward quality instead of quantity.
Pay For Value, Not Volume
30% of US healthcare spending is considered wasteful. When it comes to their healthcare, consumers will pay more to get more, but “you get what you pay for” isn’t always the case. Since employers provide healthcare benefits to promote wellbeing, make sure your people are getting appropriate value from their care.
With most consumer products and services, the expression “you get what you pay for” rings true. However, when it comes to healthcare, higher cost doesn’t mean higher quality – in fact, often the reverse is true.
Putting the “care” back in healthcare
As health plans race to put ACOs and other value-based reimbursement models in place, employers need to make sure they are actually producing results. Based on our healthcare market research and forecasts for the healthcare industry, Mercer recommends you:
- Understand what percentage of your covered workforce is being cared for by a provider with a value-based reimbursement model
- Know how much you’re paying in additional fees for lives attributed to value-based reimbursement models, such as ACOs
- Request carrier reporting that includes the expected and actual impact of value-based reimbursement on cost, quality, and member experience
- Create a baseline assessment of what the various segments of your workforce want and value with an employee benefits survey
Mercer's Value-Based Care Solutions. More Than Just a Cost-Savings
One of the biggest questions we hear around value-based care is, “how?” Employers often don’t have the critical information they need to decide where or how they might take advantage of value-based care within their organizations.
In response to that need, Mercer has developed several solutions to help. First, we have pioneered a data analytics approach to value-based care. To achieve this, we have built a collection of granular data about markets and providers across the country. And we have assembled data analytics teams, including clinicians, actuaries, and data analysts, with the expertise to tailor solutions to individual clients.
In addition, we’ve developed the Mercer Marketplace 365 solution, which enables you to provide your employees access to the best local ACO solutions across the country. Value-based care holds great potential, but only if employers have the vital information they need to make the right decisions. Let Mercer’s suite of solutions help your organization choose wisely.
Timely, Reliable Health Benefit Information
Learn more about Mercer's National Survey of Employer-Sponsored Health Plans. Click here for more information on our findings or fill out the form below to speak to a consultant now.
Have questions? Want to speak to a consultant? Whatever the size of your company, we can help transform your health and benefits.