There are 8 item(s) tagged with the keyword "health care costs".
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As we do every year, the National Business Group on Health held its Employers' Summit on Health Care Costs and Solutions in January. The summit provides a forum for close to 100 benefits leaders to come together early in the health care planning cycle to reflect on last year’s initiatives, discuss strategy for 2017 and begin to plan for 2018 and beyond. It’s an opportunity to share ideas, to network and learn from peers, and to leverage best practices that employers can implement back in the office.
The Business Group is pleased to roll out a Public Policy Issue Brief that offers public policy recommendations to create a more favorable environment for financial sustainability and affordability of specialty medications. At the outset, understanding the challenge is important. With specialty drug expenditures trending at an all-time high and all indicators pointing to sustained increases over time, employers are strategizing on how best to manage growing pharmacy expenditures for this subset of drugs.
You can help the Business Group by supporting The Health Care Payment Learning and Action Network (LAN), an initiative launched by the Department of Health and Human Services in 2015 to align stakeholders across sectors in moving payment from traditional fee-for-service (FFS) methods to ones linked to quality and alternative payment models (APMs). The LAN’s next initiative will focus on providing support and resources to drive improvement in maternity care outcomes via episode payments.
The Department of Health and Human Services (HHS) launched the Health Care Payment and Learning and Action Network (LAN) in 2015 to align stakeholders across sectors in moving payment from traditional fee-for-service (FFS) methods to one linked to quality via alternative payment models (APMs). The LAN is an unprecedented collaboration of stakeholders from the private, public, and non-profit sectors whose goal is to transform the nation’s health system by supporting health care value over volume.
With open enrollment in full swing at most companies, your employees may be wondering how your company's health plan compares to those available on the exchange.
Premiums for health plans on the federal exchange will jump an average of 25% for benchmark plans (tied to premium tax credits) next year. This increase is substantially higher than the 2% increases in 2015 and 7% this year.
Controlling health benefits costs remains a high priority for large employers. While increases are expected to hold steady at 6% in 2017, costs are still running at more than twice the rate of inflation and general wage increases, thereby threatening affordability.
For the first time in 2010, the number of specialty drugs approved by the FDA surpassed that of traditional drugs, kick-starting a trend that we're continuing to see year after year. While only a small fraction (approx. 4%) of the patient population uses specialty medications, these costly drugs now account for 25% of total US drug spending and is the fastest growing cost in most employers' health benefits.
Compounding pharmacies lost a big stream of revenue in the last few years when large employers, working closely with their PBMs, implemented caps and exclusions on compounded medications to better manage costs. While these control measures addressed a significant portion of unnecessary compounding, there are new creative compounding billing practices that are slipping through the cracks.
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