Ryan Day breaks down the current healthcare benefits landscape on the Payment Matters podcast with Jeff. Lin. Listen to learn how reference-based pricing as part of a value-driven health plan services gives employers the power to control rising employee healthcare costs.
Americans are concerned about rising healthcare costs, and among the insured, almost half worry about covering their deductible. With the cost of employee benefits projected to rise, employers and employees are looking for ways to lower costs. Ryan Day, President of HST, a Claritev Company, outlines ways reference-based pricing provides value, transparency, and quality in employee benefits.
When employees and employers think of healthcare, adjectives like, “expensive” and “costly” may come to mind. Health systems, policy analysts, and other healthcare experts agree. They’ve labeled the rising costs in U.S. healthcare as unsustainable.
Healthcare costs in the U.S. are rising to $4 trillion annually, accounting for 17% of the economy. The increased pace towards a value-based care system could be a crucial step to rein in the rising cost of healthcare. This trend accelerates the need for collaboration between payors, providers, employers and health plan members.
The beginning of the COVID-19 pandemic in 2020 gave rise to a new way in which payors, providers, employers, and employees look at healthcare. New questions emerged regarding the affordability of provider services, equality of access to healthcare services, and the overall model of how employers can offset organizational healthcare costs while ensuring affordable healthcare for their employees.
HST has completed two new agreements with Cancer Treatment Centers of America, a national oncology network and Franciscan Missionaries of Our Lady Health System.
While healthcare spending continues to soar, impacting all players in the healthcare ecosystem, Claritev understands it will take a combination of forces chipping away at the margins to make healthcare more affordable. Here are five trends we’re watching in 2022 with the potential to lower costs, improve outcomes, and make our health system more sustainable over time.
As employers navigate the challenges of the Great Resignation, offering high-quality benefits has become a critical strategy for attracting and retaining talent. By focusing on value-driven healthcare benefits and improved employee experiences, organizations can strengthen workforce engagement while managing costs more effectively.
HST, a MultiPlan company, partnered with Healthcare Bluebook to help employers deliver more transparent and affordable health plans by combining price and quality data with advanced pricing technology to guide better healthcare decisions.
In November of 2020, Claritev acquired HST. We sat down with HST’s president, Ryan Day, to learn about HST’s past and plans for the future.