One thing that employers may not understand is that technology can help them determine how much they should be paying for their employee health plans. With the right software, an employer can see exactly what the real cost of covering each employee is versus what the providers in the network are charging them. Providers need to make money, of course, so no one should expect to pay only the real cost of care – but if employers can see which providers have the smallest margins between real cost and cost of treatment, that can help them put together a network that will cost less out of pocket for both themselves and their employees.
But how can an employer have access to software like this? It is typically only available from a reputable healthcare consultant – specifically, a consultant that is independent of any insurer or network. At GM&A, one of the ways we help employers create customized health plan networks for employees is with our proprietary software; this software is designed exclusively for the purpose of analyzing real cost vs. cost of treatment, so employers can see the contrast and choose providers that have the narrowest margins (a.k.a., the lowest cost).
Furthermore, we can use the actual data from the employees’ own claims to create the most accurate calculations possible (yes, this is legal; federal law grants ownership of claims information to the employer in those cases). With the numbers right in front of them, employers can see exactly what they would pay if those specific providers were in the network. This is high-level healthcare consultation service that employers can benefit from substantially, particularly if they have been affected by the Affordable Care Act and are seeking the most affordable way to provide medical benefits to employees. Contact us if you would like to schedule a complimentary employer healthcare consultation.