Oct 2, 2020 | Alternative Reimbursement Strategies, Cost Savings, Direct-to-Employer Contracting, Reference-Based Pricing, Savings
A new RAND study finds privately-insured patients pay, on average, 247% more at hospitals than Medicare patients for the same care, The study also indicated that outpatient services are priced at about 267% higher than what Medicare reimburses, according to Healthcare...
Sep 18, 2020 | Cost Savings, MedBen Rx, Pharmacy Benefits Manager (PBM), Prescription, Rebates, Rx Costs, Specialty Drugs, Transparency
Employers could save billion of dollars every year by avoiding “wasteful drugs,” according to BenefitsPro. Guidelines from Pacific Business Group on Health and and researchers from Johns Hopkins University identified 49 high-price medications with less...
Aug 23, 2020 | Cost Savings, MedBen Analytics, Reporting
If you’ve participated in a recent plan review with your Account Management team, you’re likely familiar with the Health Plan Snapshot, a report offered through MedBen Analytics. What you may not know is that as the plan administrator, you also can easily generate...
Aug 22, 2020 | Cost Savings, MedBen WellLiving, Preventive Care
MedBen WellLiving quality metrics beat national averages by 17.2%. And WellLiving clients are not only performing better on quality metrics, they’re also performing better financially: Claim costs per employee for WellLiving clients trended at 3.2% between 2016 and...
Aug 5, 2020 | Cost Savings, Self-funding, Third party administration
That’s easy… Self–Funding saves money. Within a five-year period, self-funding offers a 95% chance of outperforming a fully insured plan. Also, a self-funded employer owns their data. This allows the employer to make informed decisions based on their needs, not the...
May 28, 2020 | Cost Savings, MedBen Rx, MedBen Rx Advocate, Pharmacy Benefits Manager (PBM), Rx Costs, Savings, Transparency
A recent Benefits Pro article highlights two pharmacy benefits management (PBM) business models: traditional and pass-through. MedBen Rx Advocate begins with the pass-through approach but takes it one step further by eliminating margin manipulation. The traditional...
