Opinion Based List:
Cost Management: Strategies for Self-Funded Health Plans
Submitted by PayerFusion on Fri, 09/28/2012 - 11:09
- Managing provider network reimbursement increases more effectively to achieve deeper discounts.
- Investing in wellness and disease management, and exploring ways to encourage plan participants to make healthier lifestyle choices.
- Building value-based plans that encourage greater use of clinics and other alternatives for minor illnesses and injuries. Promote the use of generic drugs and step therapy
- Managing imaging/diagnostic technologies more tightly.
- Using data mining to make effective plan design decisions that focus on high-cost conditions and atypical utilization patterns
- Using more aggressive hospital-admission management strategies that pay for quality outcomes, reduce readmission rates and channel patients to high-quality/high-value providers by specialty.
- Conducting aggressive, data-driven renewal negotiations.
Notes: PayerFusion discusses cost management strategies self-funded health plan sponsor can consider when creating their plan.
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