Bending the cost curve in healthcare benefits
How are you going to get your healthcare costs under control? Not by more of the same. If you don’t act, your employer health care costs will continue to gobble up an ever larger share of your profits. The good news is that some organizations are bending the cost curve in health care benefits.
Rittenhouse Benefits can help you adopt the best practices that will enable you to get control over runaway health benefit costs and deliver tangible reductions in absenteeism/presenteeism, turnover, and recruiting costs.
By implementing best known methods, proven in other organizations, you can bend the cost curve in health care benefits while improving employee productivity, satisfaction, and loyalty.
Redefining the rules — bending the cost curve
While your organization was suffering punishing costs for health care benefits, a small number of other employers flattened or reduced their costs by pursuing strategic alternatives.
- Improved financial results – lower costs, more profit, and rapid return on investment.
- Improved productivity.
- Improved “soft” results – reductions in absenteeism/presenteeism, reduced turnover, reduced recruiting costs, greater employee satisfaction.
Many of those employers succeeded after considerable trial and error. At Rittenhouse Benefits, we bring to you field-proven best practices tried and tested by the best organizations. You will benefit from the experience of the most successful employers, implementing the most effective methods in less time and more cost effectively. Rittenhouse Benefits brings you effective roadmaps to improve and sustain success.
Assessing and then closing the gaps in your framework
You can expect to start with a comprehensive assessment of gaps (where do you deviate from benchmarks). The gap assessment is the basis for a plan to move your organization ahead and close the gaps.
This gap assessment to planning process is called the Employer Health Opportunity Assessment (EHOA). The EHOA guides implementation, leading to a sustainable, cost-effective “culture of health” in your organization.
Continuous cycle of improvements leading to a sustainable organizational “culture of health”
Building a continuous cycle of improvements, in our case with an eye towards bending the cost curve in health care benefits, borrows from other “continuous improvement” approaches (such as improvement cycles used to create a culture of safety or in six sigma-type processes).
The continuous improvement environment is built on:
- Definition: benchmark goals, success metrics, and process to achieve goals.
- Measurement: gaps from benchmarks.
- Analysis: gaps and plan remediation tactics.
- Improvement: by implementing remediation tactics.
- Control: ongoing metrics and troubleshooting.
To learn more, contact us and get your questions answered.