In our 2017 National Survey of Employer –Sponsored Health Plans, we asked employers to rate the importance of strategies they will be using over the next five years to advance the triple aim of lower cost, higher quality, and a better member experience. This post on network strategies is part of a series that looks at these six key strategies.
In the challenging pursuit of health plan cost savings, network strategies are one of the most effective options. Savings of as much as 10-15% of PPO medical claims costs can be achieved-- but it will take effort and there will be trade-offs. Offering an alternative to your traditional PPO network to your employees inevitably will cause some level of change. If you're willing to take that on, here are three steps you should follow to evaluate the multitude of network opportunities available in the market.
Following these three steps will help you determine what’s to be gained from a new network strategy. Maybe it’s a question of working with your existing vendor to steer members to better providers within your current network. Maybe a bigger change will yield bigger benefits. Identifying the most effective network options for your organization is challenging work and can take many months to complete. Don't go it alone -- leverage the knowledge and expertise of your benefits advisors, carrier partners, and other third-party vendors to build the right network strategy for your goals and objectives. The benefits for your organization and your employees can be significant and long-lasting.
More posts on Key Strategies: