Employers have the collective influence to improve health outcomes. Successful efforts to personalize the experience, pay for value, drive to quality and embrace disruption have resulted in progress. Facing the impact of market forces accelerated by COVID-19, employers now need to derive greater value from health and benefits programs. It is time for employers to rebalance the quality vs. cost equation, and reinvent for value. We can help. 

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Value is multi-dimensional, dictated by what employees’ value, the value of the care employees receive, and the value of the benefit partners chosen.
By recognizing these dimensions, a more holistically valuable benefit package is delivered. We believe now is the time for employers to rebalance the equation and reinvent for value.
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Kate Brown
Kate Brown

Leader, Center for Health Innovation, Mercer

 

The future of employer-sponsored benefits is bright. Imagine a world where…

 

Quality, affordable healthcare is accessible

Benefits are valued and drive engagement

Vendors are aligned and continuous improvement reigns

 

Dollars are spent to deliver value to the business

By taking action now, employers can rebalance the equation to deliver higher quality at lower cost.

 

 

Path to reinvent for value

Employers can take specific value-based actions to drive desired outcomes by reinventing through design, experience and execution. Actions can range from short-term, less disruptive efforts to long-term actions that disrupt the system as we know it.

 

Reinvent through design: Focus on steerage to quality healthcare, digital care delivery, adopting evolving care models, and personalizing benefits to individual needs.

 

Reinvent through experience: Focus on new ways to navigate health and benefits, diverse programs, perks that are not “one size fits all”, mainstreaming of behavioral health, and enhanced diversity, equity, and inclusion.

 

Reinvent through execution: Focus on targeted data-driven innovation, rigorous vendor/carrier management, actionable program performance measurement, and evolving leave policies.

Leveraging innovation to drive healthcare transformation

 

Employers understand the power of collective influence in the marketplace. Mercer’s Center for Health Innovation (CHI) aims to harness that influence for real healthcare change. We develop creative solutions and thought leadership for employers by collaborating with clients, startups, industry organizations and academia to help deliver meaningful outcomes. Learn more about CHI and how to join our mission to innovate with purpose.

 

 

            1 US Census Bureau "Health Insurance Coverage in the United States: 2017"

            2 Integrated Benefits Institute, “The Business Cost of Poor Health”, November 2018

            3 2018 Alegeus Consumer Health and Financial Fluency Report

 

Download Whitepaper

Learn more about how employers can reinvent for value to create a better future state. Download our whitepaper now.

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