Health Reform Corner (July 2011)

Originally Published in RMP Advisor, Summer 2011

Though the Patient Protection and Affordable Care Act (PPACA) was signed into law by President Obama in March 2010, the debate over its implementation and the future of health reform in the United States rages on. PPACA may yet be revised, repealed, defunded, or declared unconstitutional. Here are some of the more salient issues, with information that will allow you to make your own informed judgments…

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Is a Health Savings Account (HSA) in Your Future? (July 2011)

Originally Published in RMP Advisor, Summer 2011

I remain a strong advocate for HSAs and consumer-driven healthcare (CDHC), documented as far back as 2006 when I wrote an opinion column for the Philadelphia Business Journal called “HSAs Work: Here’s Why.” It was clear to me back then that we must do a better job of aligning incentives among patients, providers, and purchasers, and HSAs are one of the best ways to accomplish that objective.

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Which Employer Groups Can Save the Most Money Today? (July 2011)

Originally Published in RMP Advisor, Summer 2011

Everyone would prefer to have “rich” benefits, or so-called Cadillac healthcare coverage. Why not? More coverage is better than less. Lower copayments are better than higher copayments. Free choice of providers is better than having to seek approvals and referrals. All of the above are true, but they drive up costs. To control healthcare costs, your choices are: a) reduce benefits to reduce costs or b) buy smarter. So, in this month’s feature article, we tell you where the greatest opportunities exist for future healthcare savings by answering the following questions…

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How to Cut Healthcare Costs by Creating Winning Workplace Wellness Programs (April 2011)

Originally Published in RMP Advisor, Spring 2011

When workplace wellness programs are done right, they engage employees and have a positive effect on their health. And healthier employees have a positive effect on an organization’s profitability by reducing healthcare costs and boosting productivity. In fact, a recent article in Harvard Business Review showed successful wellness programs generated return-on-investments as high as 6 to 1. What are some of the key components of winning wellness programs? That’s what we discuss in this month’s feature.

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Survey Your Employees – The First Step to Health Benefit Savings in 2011 (January 2011)

Originally Published in RMP Advisor, January/February 2011

A good place to start the process of gaining control over health benefit costs is to conduct an employee satisfaction survey regarding healthcare and other benefits. And now is the time to begin that process. Here we provide some important advice about how to get started on the road to health benefit savings.

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Voluntary Benefits Help Your Employees and Improve Your Company’s Image (January 2011)

Originally Published in RMP Advisor, January/February 2011

Voluntary benefits, offered by the employer but paid for by the employee (at his or her discretion) are playing an increasingly important role in employers’ benefits strategy. These types of offerings can expand the reach of a company’s benefits budget and help employees to affordably fill gaps in their insurance coverage. Survey data shows another reason to offer an attractive voluntary benefits roster: Your employees – and prospective employees – will think better of your company if you do.

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Closing Your Organization’s “Efficiency Gap” – 4 Lessons from Our Recent Healthcare Symposium (November 2010)

Originally Published in RMP Advisor, November/December 2010

Does your organization have an efficiency gap in its healthcare purchasing? Most likely you do, because the unfortunate fact is that approximately 30% of healthcare dollars are wasted (the so-called “efficiency gap”). Yet, it does not have to be that way, as presented by Risk Management Partners LLC, and PATH®, along with our co-sponsors Hildebrandt Baker Robbins and the Health Care Incentives Improvement Institute (HCI3) at a recent seminar called “Closing the Efficiency Gap.” Summarized below are the key points that were discussed.

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5 Steps to Reducing Your Pharmacy Costs (September 2010)

Originally Published in RMP Advisor, September/October 2010

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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You’re Invited – 2010 Value Purchasing Seminar: “Closing the Efficiency Gap” (July 2010)

Originally Published in RMP Advisor, July/August 2010

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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A 4-Step Method to Lower Benefit Costs – Creating a Partnership Between Employees and Management (July 2010)

Originally Published in RMP Advisor, July/August 2010

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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Now Is the Time to Start Healthcare Renewal Planning — 5 Steps for Saving (June 2010)

Originally Published in RMP Advisor, June 2010

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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NFIB’s reaction to taking a “wait and see” approach (June 2010)

Originally Published in RMP Advisor, June 2010

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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Results of May’s Quick Question for You (June 2010)

Originally Published in RMP Advisor, June 2010

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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Aligning Incentives to Reduce Healthcare Costs and Improve Quality (May 2010)

Originally Published in RMP Advisor, May 2010

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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New Under Health Reform: Accountable Care Organizations (ACOs) (May 2010)

Originally Published in RMP Advisor, May 2010

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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