In today’s healthcare landscape, technology is instrumental in facilitating the strategies of healthcare business leaders. Technology also provides these executives with access to the critical data that they need for decision making, planning, and forecasting.
Healthcare reform regulations, increasing costs, and more competition are driving employers and their health plans to focus more than ever on opportunities to reduce cost trends. For example, the country experienced a 3.0% growth in per capita gross (allowed) medical and pharmacy costs from 2012 to 2013. Truven Health Analytics anticipates those costs in 2014 and 2015 will increase by 4% to 5% or more. By taking a data-driven approach, payers can manage costs and, ultimately, make their benefit programs sustainable in the context of healthcare reform. They can also maximize opportunities to improve population health and productivity and optimize the delivery of care.
In response to concerns raised by healthcare leaders that the absence of adjustment for socioeconomic status (SES) and race characteristics in patient populations impedes the fair comparison of hospitals on risk-standardized 30-day unplanned readmission rates, Truven Health AnalyticsTM evaluated the extent to which risk-adjusted readmission rates for acute myocardial infarction, heart failure, and pneumonia are affected by adjustments for community-level SES factors through its Community Need Index (CNI) and patient race. The study shows there is, indeed, a statistically significant effect. For more, visit truvenhealth.com/wp/readmissionpenalties.
The tax on high-cost health plans, which are often referred to as Cadillac plans, is expected to impact a considerable share of the plans provided by healthcare organizations for their own employees, as much as 39% by 2020. The implications are significant because the excess-benefits tax requires the employer to pay 40% on the value of the portion of the plan that exceeds thresholds set by the Patient Protection and Affordable Care Act. Employers also need to consider that the tax is measured as a direct function of plan cost, and not actuarial plan value, and that a number of factors can drive excise-tax exposure.
In October 2013, S&P Dow Jones Indices (S&P DJI) launched the S&P Healthcare Claims Indices (the indices). This new index series is designed to provide an independent, timely measure of the changes in healthcare expenditures and utilization for individuals enrolled in commercial health insurance plans in the United States.
S&P DJI developed these new indices in conjunction with healthcare professionals at Health Index Advisors (HIA), a joint venture between the premier actuarial and consulting firms Aon Inc. and Milliman Inc. S&P DJI combined its knowledge and experience in developing leading indices with HIA’s experience in the healthcare market to develop the first index series of its kind, based on actual healthcare claims data. These indices seek to increase transparency in the healthcare market and enable the analysis and tracking of changes in healthcare expenditures.
The pressure is mounting and employers are feeling the pinch. As U.S. health care costs continue their seemingly inexorable rise, businesses are looking for ways to wrest greater value from their health care spend.
More and more, employers are looking for benefits strategies that help prevent chronic disease and, if it is present, encourage early, efficient treatment. The brass ring is getting employees to proactively manage their own health by adopting healthy behaviors, such as exercising and eating healthily. It’s better for the employees, it increases productivity, and it reduces health care expenditures.
So how are organizations today looking to craft health and well-being plans that deliver real results for employers and employees alike? This white paper looks at three key areas where new and innovative approaches are changing the equation.
With all the complexities of the U.S. health care system, people consuming health care services continue to find it challenging to navigate. That’s why, for the fifth year, Aon Hewitt is pleased to partner with the National Business Group on Health (The Business Group) and The Futures Company to conduct the Consumer Health Mindset Study. The study explores the health attitudes, motivators, and preferences of consumers across the U.S.— particularly employees and their dependents as they interact with their employer-sponsored health plans, wellness programs, and the broader health landscape.
Along with our findings about the consumer health mindset, we recommend practical actions you can take to meet consumers where they are and guide them in navigating health care more effectively.
Patients are going digital — and taking the healthcare system with them. Learn how in the 2017 Digital Trends in Healthcare and Pharma report.
Download it now to learn:
Why two-thirds of healthcare companies are investing in data analysis.
How they’re building content marketing programs to boost patient knowledge.
What they plan to do with virtual and augmented reality this year and beyond.
When it comes to the middle market, Key has a dedication like no other bank. Our commitment and focus allow us to deliver relevant, actionable, and tailored solutions for middle market companies. As part of this commitment, KeyBank conducts quarterly surveys with middle market executives. These surveys help us discover overall industry sentiment on topics of importance to you. We believe that the more we know, the better we can serve you. Check out what leaders are saying about their outlook on the U.S. economy, expansion plans, and their thoughts on changing healthcare policy when you read our latest quarterly report.
The terms disaster recovery and business continuity planning are often used interchangeably but, when you think about it, one is much preferable to the other. While disaster recovery makes clear that the organization will rise again, it does not let the world (and your patient population) know that the business of care will go on during the recovery process. In this important on-demand webinar, you’ll hear from one CIO who has given a lot of thought to keeping operations up and running no matter what gets thrown the organization’s way. With so many varieties of disaster lurking in wait, this is one webinar you can’t afford to miss.
HIMSS Analytics, in partnership with Akamai, recently conducted a survey of U.S. hospitals to understand the current state of web security in healthcare as well as what plans are in place to improve preparedness. The results raise some concerns that despite greater consciousness of the increased risk to healthcare data security, many hospitals are still vulnerable to a wide range of cyberattacks. Read this survey to learn about critical weaknesses in hospital web security.
Join RelayHealth for a recorded Healthcare Finance News webinar, Accelerating Service-to-Payment Velocity. With all of the changes happening in healthcare today, some things do remain the same. Your two primary sources of cash are still patients and third-party payers. While patient financial responsibility is rapidly increasing, a large percentage of revenue still flows in via governmental payers and commercial health plans.
View this webinar to hear case studies describing how leading healthcare firms have been able to move beyond Excel and save time, enhance collaboration, and improve business decisions -- ultimately resulting in higher revenues and profits.
Published By: Aon Hewitt
Published Date: Jan 20, 2015
Today in the United States, employer-sponsored health benefits are the source of coverage for more than 149 million individuals.1 Fueled by many factors, including rising costs, legislative changes, new provider models, and evolving market forces, the health care industry is undergoing a transformation. And as health care evolves, so must the employer’s role in it. What has not changed, however, is employers’ belief that health benefits are a key differentiator for talent. In fact, most large employers plan to continue offering coverage in spite of the uncertainties in the health care market.2 To keep pace with the changing environment, employers must rethink their role in health coverage: how they sponsor, structure, and deliver health benefits, and how they manage costs while keeping employees healthy, productive, and satisfied.
Delivering the best possible care to every patient is a complex, interconnected process that involves every department in a healthcare facility. From the moment a patient enters a facility, a wide range of activities must be performed by many different employees from different functional areas — in a timely and efficient way—to ensure the best possible outcome, including performing tests, collecting specimens, administering medications and delivering treatments. Each one of these activities must be coordinated and documented as part of an overall care plan. But the first step is making sure clinicians are treating the right patient—in the right way—every time.
Zebra’s white paper explores the critical impact positive patient identification (PPID) has on patient safety throughout the administrative, diagnostic and treatment phases of a patient’s stay. The paper also explores how PPID can improve staff efficiency and help healthcare organizations meet the needs of changing patient dem
Published By: Teradata
Published Date: Jun 12, 2013
Health plans and insurers know that to thrive over the next 3-5 years, they must dramatically improve their ability to engage with individual consumers.
The combination of Teradata products; an integrated data warehouse, Aster big data analytics and Aprimo integrated communication management, creates actionable analytic capabilities unparalleled in its ability to help companies achieve these goals. this white paper details how health plans and insurers can use Teradata to succeed in today’s healthcare environment.
Amid the rising costs of healthcare, employers and health plans are under increasing pressure to produce fast insights from their data to help drive business decisions, identify opportunities to reduce cost, improve care quality and generate reports for diverse stakeholders. But these professionals often lack the time, resources and analytic expertise necessary to integrate and interpret the massive amounts of disparate data available to them.
In our always-on, always-connected world, healthcare consumers expect instant access to customer service, not just from 9 AM to 5 PM. It’s often no longer good enough for health plans to staff call centers during standard business hours. Members today typically want to be able to log in and help themselves to the answers they need from self-service channels whenever they want — and they want the experience to be highly personal.
One contact center benchmark study (see next page) revealed self-service channels can be a win-win for both businesses and consumers.1 When done well, self-service solutions can help businesses improve customer satisfaction while reducing costs. And consumers appreciate the convenience of getting answers quickly and efficiently.