Health Insurance Expense Reduction

How Technology Can Reduce Healthcare Costs

Global healthcare spending will reach over $10 trillion by 2022. The US easily has the greatest healthcare spending at $10,224 per capita globally. It was just discovered that Americans spend more on the top prescription drugs than the rest of the world combined. In fact, the US tends to spend twice as much as other countries (one-fifth of the entire country's GDP). However, contrary to what the figures suggest, healthcare margins are likely to shrink over the next five years. Because of this medical and healthcare providers will look to reduce internal costs.

How Technology Can Reduce Healthcare Costs2021-10-05T09:13:32-04:00

How Your Business Can Reduce Medical Waste

Last year’s pandemic only helped to open our eyes to the relevance of healthcare, even as we continue to thrive in technological advancements. Over the past year more individuals have reassessed what is important to them and what they make be able to do without. And just as individuals have, businesses should do the same. Something that businesses within and around healthcare should be able to significantly reduce is their medical waste.

How Your Business Can Reduce Medical Waste2021-10-05T16:58:10-04:00

Price Transparency and Employee Benefits

No one likes to discuss the complexities of healthcare plans or how much they are spending on medical bills. But we just can not ignore the fact that healthcare spending is at an all-time high. As spending increases so should transparency.

Price Transparency and Employee Benefits2021-08-17T13:56:57-04:00

Typical Healthcare Plans are Changing

For the past 18 months the global pandemic has been the dominant storyline for headlines across the world. Because of this many are rethinking how we approach healthcare as a society. It is not so difficult to make the deductions from this emerging trend. The global pandemic raised the expenditure for drugs in the US to $358.7 billion, surpassing every other country’s expenses. Because of this typical healthcare plans will change.

Typical Healthcare Plans are Changing2021-06-07T10:24:20-04:00

How does your Health Plan control Drug Costs?

One of the major concerns we are trying to tackle is rising drug prices. Again we are seeing during the global pandemic healthcare takes center stage. As a result, while these hikes in drug costs are relatively unexpected, one can easily predict that healthcare is not cheap.

How does your Health Plan control Drug Costs?2021-05-26T12:41:24-04:00

Employers Abandon One Size Fits All Benefits Program

The global landscape for businesses is constantly changing. The pandemic halted how businesses usually operate and has ushered in emerging trends to foster more productivity such as flexible benefits plans.

Employers Abandon One Size Fits All Benefits Program2021-03-12T16:27:25-05:00

Employer Healthcare Costs Are Driven by These Common Conditions

Health is wealth. A statement of fact that never gets old. One of the best gifts you can ever gift yourself is sound health. But this typically comes with a price tag on it—and certain common conditions typically drive up healthcare costs.

Employer Healthcare Costs Are Driven by These Common Conditions2021-03-12T16:27:42-05:00

The Great Waste In America’s Health Care

In light of the global pandemic, one thing we all can agree on is that health is paramount. We were told to remain indoors, wear face masks, and maintain social distancing to curtail the spread of the virus. As we transition towards a world free from the deadly virus, health comes to the forefront.

The Great Waste In America’s Health Care2021-03-12T16:28:33-05:00

Employees Want More Employer-Paid Benefits

The progress of any business is directly tied to the productivity of the workforce. Happy employees give the best results, are more productive, and loyal to the business. With the pandemic came the need for greater financial security. Thus, employees are looking for improved benefits as they return to work.

Employees Want More Employer-Paid Benefits2021-03-12T16:29:35-05:00

Self-Insured Employers and Pharmacy Benefits

The COVID-19 pandemic has affected all sectors of the economy, including the pharmaceuticals. The majority of self-insured employers are not planning to make any changes in their pharmacy plans, even with the pandemic. A recent survey has found that 90% of self-insured employers are not considering reviewing their pharmacy plans. This percentage jumps to 100% for companies that have more than 1000 employees. Why is this? This article will look at what self-insured employers and self-insured companies are, how PBMs work, and more.

Self-Insured Employers and Pharmacy Benefits2021-03-12T16:37:42-05:00