In today's business landscape, companies find themselves at a crossroads. They strive to offer their employees quality health plans while grappling with the continuous upward trajectory of healthcare costs. This challenge was the focus of a webinar sponsored by Personify Health, where executives from Dow and the National Alliance of Healthcare Purchaser Coalitions shared their insights and strategies.

Navigating the Tightrope of Employee Health and Cost Management

Passing More Costs on to Employees

Jenny Goins, Chief of Staff at the National Alliance of Healthcare Purchaser Coalitions, represents organizations providing health benefits to over 45 million Americans. A November survey of coalition members, including responses from 188 employers of various sizes, revealed that rising healthcare costs impact their ability to attract top talent. A significant majority, 74%, reported having to make trade-offs due to these costs, and an even higher 84% stated that they are passing more of these costs onto employees. This poses a dilemma for companies as they try to maintain a competitive edge while ensuring their employees' well-being.Another aspect to consider is that with the increased cost burden on employees, it may lead to changes in their healthcare-seeking behavior. Some may delay seeking necessary medical attention, which could potentially lead to more serious health issues down the line. Companies need to carefully weigh these factors and find ways to mitigate the negative impacts on their workforce.

Eliminating Duplication of Services by Healthcare Vendors

Peggy Sczepanski, Dow Global Wellbeing Program Manager, emphasizes the significance of clear communication with healthcare vendors. By ensuring that vendors understand the company's needs and expectations, duplication and overlap between different services can be reduced. This not only simplifies the healthcare experience for employees but also saves the company from unnecessary costs.For example, when vendors are well-informed, they can avoid providing redundant services, which often leads to confusion among employees. This clarity in communication helps create a more efficient healthcare system within the company. It also allows the company to focus its resources on providing value-added services rather than dealing with administrative hassles caused by duplicate services.

Hold Healthcare Vendors Accountable for Results

Goins highlights the importance of having metrics to measure the success or failure of healthcare vendors. This enables companies to hold vendors accountable for their performance, especially in areas such as mental health and women's health. By setting clear goals and benchmarks, companies can ensure that vendors are delivering on their promises and making a positive impact on employee well-being.For instance, in the case of mental health services, companies can track metrics such as the number of employees seeking help, the satisfaction levels with the services provided, and the improvement in mental health outcomes. This data-driven approach allows companies to make informed decisions about which vendors to continue working with and which ones need to be improved or replaced.

Using Vendors to Improve Employees' Quality of Life

Dow has incorporated Maven into its list of service providers for employees. Maven offers support during pregnancy and after childbirth, addressing the specific needs of new mothers. Additionally, Dow has added Cariloop, an ecosystem partner focused on supporting caregivers to reduce stress and burnout.These additions have had a significant impact on employees. The enrollment numbers and the feedback received so far have been overwhelmingly positive. By providing specialized care in various aspects of women's health and caregiving, Dow is enhancing the overall quality of life for its employees. It shows that by partnering with the right vendors, companies can go beyond traditional healthcare offerings and make a real difference in the lives of their employees.

Educating Employees on When to Use ER, Urgent Care, and Primary Care

Erica Morganstern emphasizes the importance of raising awareness among employees about the appropriate use of different healthcare services. By guiding employees on when to use the ER, urgent care, or a primary care physician, companies can significantly curb healthcare costs.For example, simple education campaigns can help employees understand that not every medical issue requires a visit to the ER. By using urgent care or primary care first, they can avoid unnecessary emergency room visits that are often more expensive. This not only saves money for the company but also ensures that employees receive timely and appropriate medical care.In conclusion, companies face a complex set of challenges in balancing employee health plans and healthcare costs. Through strategies such as passing costs on to employees, eliminating service duplication, holding vendors accountable, using beneficial vendors, and educating employees, companies can navigate this tightrope and provide the best possible healthcare for their employees while managing costs effectively.