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...
Jul 20, 2020 | Cancer, MedBen WellLiving, Savings, Self-funding, Wellness
A new study predicts that annual costs associated with cancer treatment are expected to exceed $245 billion by 2030, nearly a 34% increase from 2015 billing. Specifically, medical care costs are expected to grow to $221 billion, with prescription drugs adding another...
May 17, 2020 | Alternative Plan Design, Direct-to-Employer Contracting, MedBen University, Prescription, Reference-Based Pricing, Roundtables, Savings, Self-funding, Third party administration
Self-funding provides unique ways to save plans money, and MedBen knows how to deliver those savings, said President & CEO Kurt Harden at the 4th Annual Employer Roundtable Webinar on May 14. “In this time that we’re all trying to look at cost,...
Mar 20, 2020 | Alternative Plan Design, Cost Savings, Direct-to-Employer Contracting, Reference-Based Pricing, Savings
In 2019, MedBen clients who integrated direct-to -employer contracting and reference-based pricing (RBP) strategies into their plan saved 24.7% on claim costs compared to their previous PPO discounts. RBPs effectively reduce plan costs because they can be customized...
Mar 19, 2020 | Cost Savings, MedBen WellLiving, Preventive Care, Primary Care, Savings
Practicing timely preventive care saved MedBen WellLiving clients 7.8% on average per-employee claim costs in 2019 compared to non-WellLiving clients. According to the Agency for Healthcare Research and Quality (AHRQ), the top one percent of health care spenders...
Feb 20, 2020 | Brand Name Drugs, Cost Savings, Generic Drugs, Prescription, Rx Costs, Savings
Generic drugs provide the same high quality as their brand-name equivalents but at substantially lower costs. On average, the price of a generic drug is 80 to 85 percent less than its branded counterpart while meeting the same rigid FDA standards for safety,...
