Healthcare costs continue to rise at an alarming rate and we all need to be Defining our Health Strategy. We thought it would be helpful to share what we do here at Diversified in regard to our strategy as an employer that has a self- funded medical plan. We like to say at Diversified that we practice what we preach, or that when our team comes out to see you to review your plan we are speaking from experience. Below is the Diversified plan and what we do to control costs:
Appropriate Stop Loss Level and Coverage (family or individual) – At Diversified we are unique; we offer a family stop loss that limits the plan exposure on families that are enrolled on our plan.
Aggregate Coverage (optional) – Aggregate coverage is optional but can help cap risk on the volume of claims.
Fully Insured Organ Transplant Carve Out – This policy mitigates risk for transplants by carving them out and fully insuring those catastrophic claims.
Pharmasense – Our specialty bio-tech program that aggressively manages all aspects of specialty pharmacy claims from pre-cert, to acquiring the medications, and continued case management.
Medical Management – Case managers work directly with our plan participants to manage risk while working directly with their healthcare providers.
Worksite Wellness – Our employee contributions are tied to participation and outcomes.
Disease Management Program – We offer Nurse Navigators that assist our plan participants in managing 27 chronic conditions.
Culture of Health – Good health is part of our organization. We are constantly working to keep wellness and physical fitness as an integral part of cost control management.
Telemedicine – We offer 24/7/365 access to a doctor via phone, online and mobile app.
RealTimeHealth – 24/7/365 diabetes care support that uses a state-of-the-art, cellular-based glucometer to automatically, consistently and accurately take and record a member’s glucose readings.
RealTimeChoices – We utilize technology to promote high quality/lower cost providers and tie a Go Green to Get Green cash incentive for plan participants.
Appropriate Plan Design – We offer a HDHP/HSA plan that includes an employer contribution into the HSA on behalf of the plan participants.
Appropriate PPO or an alternative approach like Cost Plus – Diversified utilizes the Cost Plus or Retail-Based Pricing Approach which has been very successful in reducing costs for our health plan.
Communication – We meet regularly with employees to discuss our strategy and answer any questions or concerns. We take their input seriously and use it for continuous improvement.
We believe that our plan brings participation, engagement, responsibility and transparency to the table. In addition, our culture of health promotes a healthy lifestyle. If any of you have been to Diversified Group, we are sure you’ve seen our fitness center, where we offer spinning classes, weight training, yoga and walking contests. We believe this interaction between the staff is invaluable to promoting a healthy and happy working environment.
As we move into 2017, we’ll have some exciting new programs and options to share with you. Please be sure to watch for our emails, sign up for our blog and follow us on LinkedIn and Twitter! Please let us know if you have any questions in regard to our health plan or any other items in this edition of the Group Scoop. As always, we thank you for your business!