Pharmacy costs are like healthcare costs—they’re often out of control. And the biggest obstacle to controlling pharmacy costs and enhancing value is a fundamental resistance to change. Allaying fear and overcoming the barriers to change takes time. But when you do, you’ll find that you can rein in costs without reducing coverage, increasing co-pays, and charging employees more for their insurance.

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A recent landmark study of the value of healthcare shows that the United States is at a huge disadvantage compared to our global competitors. Learn more about these findings and what action you can take to help.

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The conventional wisdom in the workplace is that a rift exists between the employees and management when it comes to healthcare benefits. Employees usually accuse the company of being too frugal, and management is unable to find a compromise that makes everyone happy. In the end, employees are left feeling as if their hands are tied.

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At a meeting during the first week in June, I was approached by a partner from a mid-sized Pennsylvania law firm whom I’ve known for many years. “I always wait until November to get my premium increases for next year,” he quizzically stated, “and at that point it’s too late to do anything about it.” No kidding!

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The National Federation of Independent Business (NFIB) argues against a “wait and see” approach and has made its desire for a “repeal and replace” approach to the health reform law clear. A proactive approach is almost always better than a reactive one.

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Last month, we asked readers: “Does your company’s health plan include a Health Reimbursement Account (HRA) or Health Savings Account (HSA) option?” The results are in.

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A few years ago, I was watching John Stossel on ABC News on Friday night as he reported on the crisis of rising healthcare costs. “Suppose you go into a food store carrying a plastic card that lets you buy whatever you want at someone else’s expense. Under such circumstances, why would anyone buy the ground beef if they can have the filet mignon?” That, according to Stossel, is what’s wrong with our healthcare system.

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Accountable Care Organizations (ACOs) are among the most interesting “innovations” introduced by health reform legislation. An ACO is the latest label given to an organization that integrates the delivery and financing of healthcare services within a single entity. It’s not a new concept, but rather a variation on a theme that has brought us Health Maintenance Organizations (HMOs), Physician-Hospital Organizations (PHOs), Managed Care Organizations (MCOs), and going back further, the SuperMed framework developed by Paul Ellwood.

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Last month, we asked readers: “To what extent do you think health reform will affect your firm’s healthcare costs for 2011?” The results are in.

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The conventional wisdom is that the last few weeks have revolutionized healthcare in America, with the passage of two major pieces of legislation (HR 3590 and HR 4872). If all the changes under Obamacare are implemented as currently written into law, the healthcare landscape in the United States will be very different in 10 years from what exists today. But what about next year? The next 4 years? And what is the impact on business?

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We’re not in the business of giving tax advice to our clients and friends, but we do provide information. The recent healthcare legislation signed into law by the President contains a Small Business Health Care Tax Credit that may help you with the cost of providing your employees with health insurance. Tax credits are available immediately for the 2010 tax year.

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We are continually talking about ways to increase the “value” of your healthcare purchasing dollars—how to get the best possible benefits for the lowest possible cost. Since your employees and their dependants are the ultimate users of the healthcare system, consumer involvement in their healthcare decision-making is an essential element. How do we promote employee and consumer involvement in their healthcare? An effective wellness program is the foundation of consumer involvement.

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Do you know of any successful business that doesn’t have a well-designed business strategy and financial plan? Since health benefits represent one of the largest expense items in your budget, why wouldn’t you have a healthcare-spending plan? You can and you should!

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Last year, we introduced you to our client Horsham Veterinary Hospital (HVH), a full-service animal healthcare facility located in suburban Philadelphia. Like most small- to mid-sized employers, HVH was experiencing annual cost increases of 15% to 20% and struggling to manage its health benefit costs in the years leading up to 2008 (see last year’s case study). In 2008, RMP began working with HVH’s owner, Dr. Joseph DiMauro, to implement a new, multi-year strategy for managing healthcare costs.

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At RMP, we believe in a data-driven approach to managing your health benefits and costs. That’s why analyzing your healthcare utilization data is one of the key steps in our white paper, 10 Steps to Fixing Your Company’s Healthcare. Our premise is that approximately 30% of the dollars spent on healthcare are wasted on unnecessary, inappropriate, and poor-quality care. Using your organization’s claims data to understand the source of the waste is an essential first step to designing a long-term healthcare strategy that is cost effective and provides optimal care for your employees and their dependents.

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