With the growing healthcare costs for industries, employers must utilize value-based benefit programs to reduce costs. The National Business Coalition of Health is launching risk solution programs devised to help employers gain better health at lower costs in pharmacy benefits and musculoskeletal management.
Here are six facts on the programs:
1. Charles Smithers, Interim CEO for NBCH, believes the programs' focus on corrosive aspects of healthcare costs will help employers recover the excess cost with enhanced health outcomes.
2. NBCH partnered with National Employers' Choice Rx, a company devoted to reducing hidden fees, use an evidence-based formula based on independent studies. The company offers a narrow pharmacy network.
3. National Employers' Choice Rx is structured differently than most PBMs, resulting in savings of 15 percent to 25 percent with healthcare spend reductions of 2 percent to 3 percent.
4. The second program is a partnership with Integrated Mechanical Care, a musculoskeletal management group. The group uses evidence, analytics and proprietary guidelines to resolve orthopedic conditions, reduce lost work time and minimize pain and disability recurrences by more than 80 percent.
5. The program will help employers realize benefit plan savings of 2.5 percent to 10 percent with orthopedic conditions typically being 10 percent to 20 percent of savings.
6. Sara Hanlon, vice president for NBCH, claims the services will produce better health outcomes while also minimizing costs. The programs serve as an alternative for purchasers and healthcare professional to recover the unnecessary costs that have not previously been challenged.
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