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Category: "Cost savings"

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02/11/18

For MedBen, Beating Trend Is All in the Details

In recent years, U.S. health care spending has slowed significantly compared to the double-digit cost spikes we saw a decade ago. But there’s still room for improvement, so MedBen uses multiple containment strategies to keep client claim costs under… more »
  09:27:00 pm, by MedBen5   , 214 words,  
Categories: Reporting, Cost savings, Third party administration

MedBen Reporting Highlights “Care Gap” Connection

Among the distinctive features of the MedBen reporting package is a series of reports that examine a group's "care gap." The idea behind a care gap measurement is straightforward: Individuals who get recommended exams and follow their doctor’s advice… more »

01/14/18

  05:12:00 pm, by MedBen5   , 187 words,  
Categories: Announcements, Cost savings, Third party administration, Claims management

MedBen Claims Surveillance Continues to Save Clients Money

MedBen's claims surveillance system, which screens and selects claims for specialist review, saved clients, on average, an additional 38% per selected claim in 2017... savings produced after network discounts are applied, but before claims are paid.… more »

01/01/18

  10:05:00 pm, by MedBen5   , 377 words,  
Categories: Prescription, Cost savings

The “Cost Plus” Approach to Rx Benefits

A recent New York Times story identifies a fundamental problem in the pricing of medicines in our health care system today: It is difficult to determine what “cost” is for a medicine. What a given pharmacy actually pays to stock a medicine in the… more »

12/03/17

  11:18:00 pm, by MedBen5   , 232 words,  
Categories: Cost savings, Third party administration, Self-funding

Flexibility Adds to Self-funding Appeal

With all the uncertainly in the fully-insured market nowadays, it's little wonder that the popularity of self-funding continues to grow. Today, nearly 70% of U.S. employees are covered under employer-funded plans, as more businesses are seeing for… more »

11/05/17

  01:55:00 am, by MedBen5   , 220 words,  
Categories: Health Plan Management, Cost savings, Research, Third party administration, Trend, Claims management

MedBen Beats Trend by Focusing on Claim Costs

Medical plan trend has kept stable over the last few years. Even so, MedBen has consistently remained under national trend by emphasizing the highest driver of plan costs – claims. According to the 2018 Segal Health Plan Cost Trend Survey, medical… more »

10/22/17

  08:23:00 pm, by MedBen5   , 213 words,  
Categories: Wellness, Reporting, Cost savings

Claims-Based Wellness Approach Pays Healthy Dividends

“Just the facts.” It worked for Sgt. Joe Friday, and it works for wellness, too. Unlike traditional wellness programs that require employees to complete imprecise and unreliable health risk assessments, MedBen WellLiving takes a claims-based approach.… more »

10/20/17

  03:34:00 pm, by MedBen5   , 185 words,  
Categories: Prescription, Reporting, Cancer, Cost savings

Specialty Drug Projection: $25 Billion Annually

According to a recent Mercer survey (as reported by Reuters), over the next five years, between 40 to 50 new specialty drugs will be launched on the market each year. These could increase costs by $25 billion annually. (No, that’s not a typo… $25… more »

09/06/17

  09:52:00 pm, by MedBen5   , 196 words,  
Categories: Prescription, Cost savings, Third party administration

MedBen Claim Surveillance Case Study: $100k In Savings on One Person

MedBen cost containment technology, coupled with professional analysis, is saving a MedBen client almost $100,000 annually. Recently, MedBen's claim surveillance system flagged a claim from a hospital billing for an injectable specialty drug to treat a… more »
  09:51:00 pm, by MedBen5   , 200 words,  
Categories: Wellness, Cost savings

Worksite Wellness Efforts Lead to More Productive Employees

Worksite wellness programs like MedBen WellLiving benefit an employer's bottom line... and not only by reducing claims for costly chronic conditions. A healthier workplace also results in more productive employees. According to The Wall Street Journal,… more »

08/27/17

MedBen Client Report Highlights Population Health Management Services

The health care landscape may continue to shift, but MedBen remains focused on providing clients with cost-effective, employer-directed administrative services. In our 2017 MedBen Client Report, we look at the various way we're working with employers to… more »

08/09/17

  03:09:00 pm, by MedBen5   , 211 words,  
Categories: Announcements, News, Cost savings, Third party administration

MedBen Surveillance System -- Ten Years of Money Saved

In September of 2007, MedBen introduced to its self-funded clients an advanced surveillance system that took claims management to a higher level. And nearly 10 years later, our clients continue to realize significant savings from this system, which… more »

07/30/17

  09:26:00 pm, by MedBen5   , 231 words,  
Categories: Prescription, Cost savings, Research

Working Together, MedBen and Employers Consistently Beat Rx Trends

Keeping prescription drug plan costs in check is one of the greatest challenges for self-funded employers nowadays... but year after year, MedBen is helping clients beat pharmacy cost trends. From 2014 to 2016, MedBen clients experienced average… more »

07/16/17

  09:46:00 pm, by MedBen5   , 251 words,  
Categories: Wellness, Cost savings, Preventive care

"Physician First" Wellness Takes a Long-Term View

A common excuse for not getting an annual wellness exam: "I feel fine, so why waste my time and money seeing a doctor?" But by taking this narrow view of regular check-ups, many people fail to understand that their benefits go well beyond current health… more »

07/14/17

  03:11:00 pm, by MedBen5   , 191 words,  
Categories: Prescription, Cost savings

For Real Rx Savings, Generics (and MedBen) Deliver

When promoting pharmacy plans, third party administrators sometimes play up their brand-name drug discounts... conveniently overlooking the fact that most doctors prescribe generic medications when available. That's why MedBen focuses on the real… more »

06/16/17

  08:15:00 pm, by MedBen5   , 210 words,  
Categories: News, Wellness, Reporting, Cost savings, Hypertension, Population health management

MedBen WellLiving Clients See Lower 3-Year Cost Trend

By promoting employee wellness, MedBen WellLiving clients are realizing significantly lower health care costs. From 2014 to 2016, employers that integrated WellLiving into their health care package experienced just a 1.6% trend, compared to 8.5% trend… more »

06/07/17

  03:09:00 pm, by MedBen5   , 210 words,  
Categories: News, Cost savings, Third party administration, Self-funding

Rise in Multi-Million Dollar Claims Stresses Need for Cost Management Solutions

The elimination of lifetime maximums on self-funded health plans has led to a spike in multi-million dollar claims... and an even greater need for the claims management solutions provided through MedBen. According to the 2017 Sun Life Stop-Loss Report,… more »

06/02/17

  10:01:00 pm, by MedBen5   , 172 words,  
Categories: Announcements, News, Wellness, Cost savings, Third party administration, Self-funding

MedBen Cost Trend Remains Low... Especially for WellLiving Clients

Through effective claims management and intelligent plan design, cost trend for MedBen clients in 2016 was only 3.9%. And from 2012 to 2016, client cost trend averaged just 3.5% over the five-year period. But there's more to the story. MedBen clients… more »

05/21/17

  11:11:00 pm, by MedBen5   , 252 words,  
Categories: Stop-loss, Cost savings, Third party administration, Captives

MedBen Stop-Loss Captive Offers Cost Savings Through Shared Risk

The MedBen stop-loss captive save clients money while reducing financial risk, says Jay Ritchie, Executive Vice President of Tokio Marine HCC. Speaking at the 2017 Employer Roundtable on May 11, Ritchie noted that the success of MedBen's captive is… more »

05/01/17

  07:39:00 pm, by MedBen5   , 221 words,  
Categories: Prescription, Wellness, Cost savings, MedBen University, Municipalities

MedBen Municipality Group Costs Rose Just 1% in 2016

Municipality groups administered by MedBen are seeing only minimal cost growth, according to an analysis of industry-specific benchmarks at the 11th Annual MedBen Municipality Roundtable on March 30. In presentations to attending clients, MedBen… more »

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