Is Your Network Taking Your Money?
As a business owner, if a supplier came to you every year asking for double-digit price increases for a poor-quality product, would you continue to do business with that person?
Most likely, the answer is “no way!”
Then, why do American employers continue to shell out money for health plans that do just that?
Intel finally said “enough is enough” and went out and built their very own healthcare system. By contracting directly on a per-member-per-month basis through a combination of onsite clinics and a narrow network limited to Presbyterian Healthcare Services, Intel now controls the level of service, convenience, access and quality its 3,500 employees in New Mexico receive.
Many networks are a one-size-fits-all approach designed around healthy, low-volume healthcare users, under the premise that broad network choice is what employees demand. However, a recent study in the Wall St. Journal had only 16% of respondents ranking network access as a top 3 factor in selecting a health plan.
Any self-funded employer can be a leader like Intel. The formula is simple: build your own network, pay for performance, and measure.
Forthright Health is here to help.