In a recent “Pulse of the Purchaser” employer survey, nearly three-quarters (74%) of respondents indicated that rising health care costs might force them to reconsider wage or salary increases. The same percentage also believe that rising costs will compel them to shift more expenses to workers.
“These uncontrolled costs directly lead to smaller raises, lost jobs, and the inability of working families to afford care. This is perhaps the primary driver of health inequity,” said Shawn Gremminger, president and CEO of the National Alliance of Healthcare Purchaser Coalitions, which conducted the survey. “And for employers, it’s no longer just about cost control. It’s about survival.”
Also noteworthy: Nearly all (99%) survey respondents said that drug prices, in particular, are a “significant threat” to affordability. Most (84%) expressed the same concern about high-cost claims, and 79% believe that hospital prices pose a “significant threat.”
MedBen offers solutions that directly addresses these threats:
- MedBen Rx reduces high-cost drug spend to the greatest extent possible. We have solutions that ensure you pay the lowest Rx prices available… saving clients 18.1% on average compared to their previous PBM.
- MedBen forensic claims review has saved clients tens of millions of dollars on high-cost claims. We deliver an additional 47% average savings on clinically reviewed claims, over and above PPO discount.
- MedBen direct-to-employer contracting lowers hospital prices by partnering health system with health plans at agreed upon rates. Clients using this strategy save an average of 19.6% compared to those using PPOs alone.
MedBen’s Self-funding Solutions Checklist offers a variety of cost-saving strategies that don’t place a greater financial burden on the employer or the employee. Take a look and if there’s any service you’d like to know more about, call us at 888-627-8683.