Under the current health care system, self-funded groups continue to face increasing health care expenditures. While the system is beginning to take steps to address this problem, arresting the rise in health care spending requires cost cutting measures today.
Starting in 2015, the Affordable Care Act mandates a tax on so-called “Cadillac plans”: 40 percent for every dollar you spend above $10,000 per patient. Because union health care plans usually provide robust coverage for their members, chances are high that this tax could affect you. It is imperative, then, that you find a way to reverse the trends in spending and hold a more favorable budget, while still providing excellent care to members.
In addition, your members need to understand how to purchase health care, something that few of us understand. Many are good consumers when it comes to purchasing high-ticket items like cars — comparison shopping, researching price points, analyzing value — but few of us take the same steps when buying health care.
US Med can help you reduce health care expenditures by teaching members how to proactively manage their health and their health care dollars.
Cost reduction strategies are more effective if they are tailored to your specific needs and problem areas. US Med uses early screening and identification procedures to assess your members’ health risks and opportunities for wellness. This gives you a stratified view of your members and the care they need, so you have the knowledge you need to exercise smarter control over health care expenses.
Application of digital data findings could reduce health care spending by $300-$450 billion.
US Med also uses data analytics to refer members to value providers who will administer high-quality and cost-effective care. When a member needs an orthopedic surgeon, a cardiac specialist, or another specialist, US Med helps them “shop” for the care provider with the best value.
Engaged, Empowered Employees
US Med uses educational initiatives to build a community of savvy health care consumers who value health. US Med provides members with the tools and knowledge to proactively manage their wellness, diminishing the need for expensive treatments while reducing health care expenditures.
A healthier workforce is also more productive: workforce wellness cuts down on absenteeism and presenteeism, which cost the U.S. economy a combined $300 billion in lost productivity every year.
US Med offers an alternative to expensive ER treatments in the form of accessible, affordable urgent care centers, which cost, on average, $1,000 less than the ER per trip. Members don’t have to make appointments, and our urgent care centers offer extended hours, so members can receive care at their convenience.
Managing Chronic Illness
Chronic illness accounts for 75% of health care expenditures in the U.S.A. US Med offers Care Synchronicity to help members who suffer from chronic conditions manage their health, coordinate their care between multiple providers, and follow the sometimes complex medication regimens. US Med care personnel help members access necessary resources for risk management; they facilitate collaboration between pharmacies, hospitals, specialists, and primary care providers, and they ensure that the home environment promotes patient wellness.
The cost of care for those with chronic illnesses tends to be five times higher than care for those without chronic illnesses, but many of these expenses are avoidable with proactive care.
By educating members to become better consumers, US Med can help you reverse spending trends, keep your expenses down, and still provide the best possible care for your people.
Interested in learning more?
Contact US Med to set up an appointment to talk!