Employers’ decisions around purchasing healthcare plans should focus on a broader measure of value, including employee productivity, not just cost, according to Bruce Sherman, MD, chief medical officer of the National Alliance of Healthcare Purchaser Coalitions.
Employers’ decisions around purchasing healthcare plans should focus on a broader measure of value, including employee productivity, not just cost, according to Bruce Sherman, MD, chief medical officer of the National Alliance of Healthcare Purchaser Coalitions.
Transcript
How do employers measure value and efficiency when they purchase healthcare plans?
This is an issue. Employers are challenged, I think, to measure value because the timeframe for quantifying value is more often than not driven by C-suite, particularly CFO [chief financial officer] decision making, so the expectation is that value has to be manifest in a shorter timeframe than what might be clinically appropriate, so cost has continued to be the primary focus instead of overall value.
Where I think employers have an opportunity which has not been fully realized is to quantify more broadly a measure of value which encompasses not only the cost of services but the attending impacts on employee productivity and performance in the workplace. With that bigger picture in mind, hopefully employers can think more holistically and comprehensively about the value that they’re deriving from healthcare.
Overcoming Employment Barriers for Lasting Social Impact: Freedom House 2.0 and Pathways to Work
April 16th 2024To help celebrate and recognize National Minority Health Month, we are bringing you a special month-long podcast series with our Strategic Alliance Partner, UPMC Health Plan. Welcome to our second episode, in which we learn all about Freedom House 2.0 and the Pathways to Work program.
Listen
Making Giant Strides in Maternity Health Through Baby Steps
April 9th 2024To help celebrate and recognize National Minority Health Month, we are kicking off a special month-long podcast series with our strategic alliance partner, UPMC Health Plan. Welcome to our first episode, which is all about the Baby Steps Maternity Program and its mission to support women throughout every step of their pregnancy journey.
Listen
Increasing Lp(a) Awareness for Better Cardiovascular Health: Dr Mary McGowan
March 24th 2024For Lp(a) Awareness Day, Mary McGowan, MD, FNLA, chief medical officer of the Family Heart Foundation, highlights how most people with elevated Lp(a) are completely unaware that they have this increased risk and calls for increased testing.
Read More