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US Employer Health Cost Expected To Rise 8.5% In 2012

05/19/11

  05:28:45 pm, by MedBen5   , 269 words,  
Categories: News, Health Plan Management

US Employer Health Cost Expected To Rise 8.5% In 2012

Employer health care costs will rise by an average of 8.5% in 2012, according to a PricewaterhouseCoopers study. The Wall Street Journal MarketWatch reports that while more moderate than previous years, the cost increase does reflect a growing confidence in an economic recovery.

Based on surveys of 1,700 employers along with hospital executives and actuaries, Pricewaterhouse found that three factors will contribute to medical cost growth next year: A jump in hospital-physician consolidation, providers cost shifting from Medicare and Medicaid, and post-recession stress in the workplace. The study also says that employers are expected to counter pricing increases by cost-sharing through higher deductibles and greater penalties for out-of-network care.

At MedBen, we’re committed to helping employers keep their annual health cost increases to a absolute minimum. For example, our advanced claims surveillance system has proven uniquely adept at keeping costs as low as possible. Using over 80,000 clinical and financial algorithms to scour every claim for savings possibilities, claims surveillance saved our clients an average of $10.94 per employee per month in 2010 – savings on top of plan provisions, network discounts and other cost controls.

Additionally, MedBen is currently rolling out, in partnership with Verisk Health, Sightlines™ Medical Intelligence, a data analytics and reporting platform that finds opportunities for medically valid, financially smart decisions. Sightlines™ analyzes existing claims data, and reports on quality and cost metrics. The platform also identifies disease prevalence and pinpoints utilization issues. For our clients, this provides a level of detail unrivaled in data analysis.

To learn more about these and other MedBen cost containment measures, we invite you to contact Vice President of Sales and Marketing Brian Fargus at (888) 627-8683.

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