A recent employer survey summary highlights five actionable strategies that best-performing companies are using to optimize the value of their health care plan – and coming in at number one is “ensure quality of care through value-based designs.”
The summary states: “Best performers are focused on delivering health care to their employees through value-based designs and contracting that tie payments to quality care and health care outcomes – so cost is based on real results. This model aligns the patient’s and provider’s incentives toward efficient and effective care, preventing reoccurrence of illness and reducing complications, or – when treatment is needed – getting the patient the right care and the right site of service, sooner.
“Seventeen percent of best performers are using bundled payment approaches in their medical plans, compared with only 4% of high-cost companies.”
The wisdom MedBen has gained by working with Medicare data analysis has allowed us to also offer commercial bundled payment services to employers. In doing so, self-funded plans can realize lower costs than fee-for-service payments without compromising quality of care.
Furthermore, because MedBen Analytics has accumulated and researched data on value-based care spending and clinical trends nationwide, we know the cost of high-quality, consumer-focused episodic care. We not only can identify facilities and providers who are overcharging for high-volume procedures, but we can have a meaningful discussion with those facilities and providers about contracting a reasonable commercial rate for an episode of care.
MedBen’s ability to negotiate commercial bundled episodes of care with statistics on clinical utilization and cost ensures that clients are effectively spending their health plan dollars.
MedBen Analytics draws on its experience to benefit all participants in the patient journey… see for yourself by scheduling a demo today. Simply call MedBen President & CEO Kurt Harden at 888-633-2364 or email kharden@medben.com.