Reference Based Pricing Gaining

ebso-rpbWhile plenty of folks talk about reference based pricing as though it’s a fad that has come and gone, we’re finding more interest from employers all the time. This may be because many like to brand it as another form of disruption, but regardless of how you brand it, reference based pricing is becoming a more important part of our value proposition all the time. It’s becoming more widespread because it enables a self-funded plan to limit costs to an extent that few other measures, if any, can match. This is primarily because by negotiating in advance with hospitals to accept a schedule of fixed payments for certain healthcare services, carrier-sponsored provider networks can be bypassed.

The fact is that while reference based pricing may be considered disruptive by many hospitals, it works. It is a transparent approach that can save a lot of money for self-funded health plans and their members. And finding ways to help self-funded employer plans provide high quality, high value healthcare to their members is our most important job.

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The Changing Definition of Wellness

wellness-programAfter decades of preaching to workers about the importance of staying fit and physically healthy, the term worksite wellness is beginning to mean much more to employers and employees alike. Leading companies are expanding their workplace wellness initiatives to address mental health and financial security – key components of their employee’s overall well-being that go way beyond physical health.

The National Business Group on Health shows that a majority of employers are addressing emotional and mental health as well as financial security as part of their overall well-being strategy. Other initiatives, such as support for community involvement and social interaction, are pointing to a growing trend of focusing on the entire person and not just physical health or fitness. Research is showing that addressing physical health is only one way to improve the workplace experience and reduce employee turnover.

More Choice Means Greater Satisfaction

While traditional wellness programs have been more “one size fits all” and lacking in personal appeal, some employers are encouraging employees to do the things they like to do by giving employees a flat dollar amount to spend on a gym or pool membership, personal trainer or other self-defined activity they find rewarding. Volunteering to help with community causes or enrolling in educational classes are not out of the realm of possibilities, since these activities can do a lot to help an employee gain a healthier perspective on work and life.

When choices are made by individuals and not for them, better decisions often result. As people share their experiences with others, the impact on a company’s culture can be extremely positive. Better well-being becomes an important priority for everyone and not just those who like spending time on treadmills or yoga mats. From the employer’s perspective, objectives can expand beyond healthcare cost savings and increased productivity. As an example, offering health coaching is a great way to focus on the needs of individuals rather than the group as a whole. It can help companies address emotional and mental needs as well as physical needs.

If worksite wellness is a priority for your organization, this might be a good time to review the goals of your program and then to make sure the activities you are offering are in line with those objectives. There is a lot more to be gained from worksite wellness than lower medical claim costs and redefining wellness may be just what your organization needs.

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It’s Never Too Early for Sunscreen

sunscreenThe American Cancer Society reminds us that more skin cancers are diagnosed each year in the U.S. than all other cancers combined. Most are caused by too much exposure to ultraviolet (UV) rays, most of which come from exposure to the sun. One thing to remember is that you don’t have to be spending a day at the pool to be at serious risk. Simply staying in the shade will make a huge difference. If you do want to catch some rays, slip on a shirt, wear a hat and apply sunscreen with a SPF value of 30 or more. UV blocking sunglasses will help protect the delicate skin around your eyes and help you avoid certain eye diseases as well.

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IRS Penalties Are Being Issued

The Internal Revenue Service is finally issuing penalty letters to employers who failed to provide health coverage, in compliance with the employer shared responsibility provisions of the ACA, for the 2015 tax year. Some letters may describe a no coverage excise tax while others may assess an excise tax for failure to provide “adequate or affordable” coverage. The notices are catching many employers off guard because issuance of these letters was delayed several times.

Those who receive a letter describing the specific violation, could be liable for penalties ranging from $2,080 to $3,480 per affected employee, depending on the violation and the plan year involved. Regulatory experts recommend that employers refer to the data submitted on forms 1094-C and 1095-C and respond to the IRS on time, even if they don’t believe the tax is owed.

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Robotic Coronary Intervention

doctor-holding-heartResponding to an anticipated shortage of cardiologists and other specialists, Mayo Clinic is using a $3.3 million charitable grant to conduct a preclinical study enabling doctors working at a remote location to use telemedicine to place heart stents by guiding a robotic arm. The study, being done in collaboration with a robotic equipment manufacturer, is being referred to as “telestenting” because it takes telemedicine to a new level.

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Apple to Introduce Employee Health Clinics

healthEven though on-site clinics are not revolutionary, the announcement by Apple seems to have captured more attention because of the excitement generated by newsmakers Berkshire Hathaway, JP Morgan Chase and Amazon. Apple, currently working to add medical personnel, expects the clinics to be available at their Cupertino, California headquarters this Spring.

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4 Ways Social Media is Changing the Healthcare Industry

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This article was published on May 30, 2018 on Businessmole, written by Sam Allcock.

Social media and healthcare may not seem like two things that should go hand in hand. Social media is all about sharing information whereas the health sector is mostly about privacy. So, how is social media changing the healthcare industry?

Like most industries, healthcare is moving to be more digital. The main reason being that the general population is becoming increasingly more ‘plugged in’, therefore to reach prospective clients, those in healthcare need to move with the times and get online.

Social media isn’t just an outlet to share pictures of food, funny videos or stories of your day, but it in fact is a powerful communication tool that is shaping the success of many businesses.

Here are just a few ways in which social media is changing healthcare:

Improving the physician-patient relationship

Social media has provided the opportunity to develop relationships between patients and physicians. Instead of only being able to communicate with a patient for the 10 minutes given for an appointment, doctors are now able to share valuable health information on their social media platforms. This helps physicians further improve the lifestyle choices of their patients, through reinforcement of health studies, research and messages on this media patients will be exposed to health information on a daily basis.

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Social media also helps to expand the reach of information: there will be patients that only visit their local GP or hospital very occasionally, meaning their exposure to important health information is limited. Through the sharing of these messages on social media, members of the public that would otherwise miss these important notices are exposed to them.

Similarly, it helps develop trust between patient and consultant. By allowing the physician to share up to date health research and stories on their accounts, patients can be confident that their physician is ahead in their education and patient care. Not only does this build confidence with existing patients but is excellent for ‘word of mouth’ referrals. People are likely to share what the doctors are putting on their feeds, this will then be seen by a new circle of people and is likely to influence their healthcare decisions.

The example below shows an oncologist sharing news about a new cancer treatment, this then has been retweeted by three separate accounts. This news is relevant to the industry that Dr. Greg Wilson is in, making him appear to be up to date with developments in his field but also, by sharing it on Twitter, he has made that information available to other accounts who then have shared this information to their own following, further spreading the news and his name.

In a 2016 Forbes article, it was mentioned that “Social media will be THE place patients go to for information on doctors and hospitals and will be a major referral source for healthcare providers.”

Patients using social media to make a decision

In a similar way to people using social media reviews to choose a restaurant, more and more people are turning to social media before they make a decision about a healthcare provider. 41% of people say social media would affect their choice of a specific doctor, hospital or medical facility.

The image below shows three negative reviews of a GP surgery and outlines issues people have had with that particular facility. A new patient may look at these reviews and make the decision not to register with that particular doctors’ surgery.

People are able to research a healthcare provider before making a decision. By being able to read real life reviews they can ensure that they are making an informed choice when they choose a medical facility.

These reviews can also help to improve the quality of these services. If enough people are leaving feedback about any poor or unacceptable aspect of a business, changes are likely to be made to improve them.  Even if patients are not using social platforms to leave reviews, healthcare providers are able to distribute surveys or run polls via social media in order to obtain feedback on their services and then use this data to make changes to improve quality.

Raising Awareness

Social media is an effective platform to share information with the population and raise awareness about important subjects. Nothing is more important than health concerns. By creating shareable content healthcare providers are able to have their important subject spread wider, and faster, than if they used traditional media.

Social media can be used for targeted local campaigns. For example, every year the NHS call for vulnerable groups and those working within the healthcare sector to get their ‘flu jabs, you can usually see leaflets in the doctors surgeries and banners in local pharmacies. However, these marketing materials are easy to ignore when you are out and about. Social media targets the public when they are unlikely to be focusing on anything else.

South Tees Hospitals NHS Foundation Trust ran a campaign through October, 2016 called #Flutober. The campaign was aimed at the staff of these hospitals and involved a set of emotive pictures of vulnerable patients who would risk further harm by contracting ‘flu. This risk would be reduced by those working at the hospital getting the flu jab.

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As a result of the campaign 600 more staff, compared to the same period in the previous year, were vaccinated.

Due to a lack of funding and tight marketing budgets, marketers in this industry should ensure that healthcare call tracking software is applied to their campaigns as it will allow marketers to track which campaigns are bringing in the most leads and, as a result, they can determine which have been successful in raising awareness and which platforms have the most engagement. This can help marketers allocate budget effectively to achieve the greatest results with the budget provided.

Engaging with patients in real time

Social media has the benefit of being able to reach more people worldwide than most other media, according to numbers from Statista, the number of social media users worldwide is set to reach 2.62 billion in 2018. This reach is useful when there are global health crises as it provides a platform for sharing important information about epidemics. It also has the advantage of being a fastmoving media, there is no waiting for material to go to print or for footage to be edited, and it works in real-time.

An example of this in action was the Zika outbreak in Brazil in 2016. This virus is spread through mosquito bites and exposure to this virus while pregnant can produce life-altering birth defects. Due to the speed at which the disease was spreading in 2016, and being so close to the Rio Olympics, which were forecast to bring thousands of tourists to the country, it became a global issue. Using social media, healthcare providers, news outlets and charities were able to create content and spread important information about the virus, such as how to prevent it from spreading, how to avoid mosquito bites if you are traveling to the infected area, risks for vulnerable individuals such as pregnant women and symptoms to look out for.

The Centers for Disease Control and Prevention (CDC) won ’Social Media Campaign’ category of Ragan’s 2017 Health Care Marketing & PR Awards for their campaign during this health crisis. The campaign produced more than 6,800 messages to deliver information about prevention, updates on the outbreak and news of the CDC’s response. The videos were published 92 times across the CDC’s social media accounts and were viewed more than 680,000 times.

On a smaller, local level, GP surgeries and other medical facilities can update patients on waiting times, staff absences and closures in real-time through their social media pages, see the example below:

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Advice of this sort stops patients from making unnecessary trips only to discover they can’t see their preferred doctor or that the waiting time is over an hour; it also allows healthcare providers to keep patients informed even when they are out and about.

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Blood Free Glucose Monitors

Thanks to a new system approved recently by the U.S. Food and Drug Administration, Medicare patients with diabetes are able to monitor their glucose levels without sticking their fingers. The first-of-its-kind system reads glucose levels through a sensor placed on the back of the upper arm. Sensors, which can be worn for 10 days, are priced at $36 while a handheld reader, placed over the sensor to obtain real-time readings, retails for about $70.

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Drug Overdose Deaths Rising

pills with bottleAccording to preliminary government data, U.S. deaths involving fentanyl and other synthetic opioids fueled a 21% jump in annual drug overdose deaths during 2017. The increase from 9,945 opioid deaths in 2016 to 20,145 during 2017 reflected the sharpest one-year increase since the U.S. began experiencing a widespread opioid addiction. CDC data shows that deaths involving heroin and prescription painkillers such as oxycodone, are also increasing.

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