The annual cost of health care has increased from $146 per person in 1960 to more than $10,000 per person in 2016, and care costs are expected to increase by six percent in 2019. So, while offering high-quality health care is one of the best ways to take care of your employees, it’s becoming increasingly difficult to juggle the cost of their care and your company’s bottom line. Enter: value-based care.
Blue Cross Blue Shield of Michigan is shaping the future of value-based care with solutions that address the rising health care costs of businesses and employees. Through its Value Partnerships programs, Blue Cross works closely with its physician and hospital partners to improve patient care and find better and more cost-effective ways to treat some of the most common and costly medical conditions. It’s a transition from the traditional fee-for-service model and promotes hospital/doctor collaboration, translating to cost efficiency and savings.
Led by Amy McKenzie, MD, Medical Director of Value Partnerships at Blue Cross, and Alina Pabin, Director, National Programs at Blue Cross, it will provide employers with information on how the value-based model benefits both their employees’ health and their company’s bottom line.
This Master Class helps employers better understand the causes behind growing care costs, learn how the value-based model promotes both better health and lower costs, and provide next steps for how human resources and benefits managers can implement value-based programs.
There are a variety of factors contributing to the increase of health care costs, including chronic disease, unhealthy lifestyle habits, preventable ER visits and an aging population. With chronic illnesses making up a majority of the nation’s $2.7 trillion in annual health care costs, and one in four adults having two or more chronic conditions, increases in the price of care show no sign of stabilizing. However, through proactive education, employers can get ahead of these rising costs and be a partner in offering the health care solutions their workforce needs.
Viewers of the webinar will get a behind-the-scenes look into the Patient-Centered Medical Home (PCMH) program, a form of value-based care in Michigan, to hear about the experiences of a PCMH doctor and Quality Manager on how the program has positively impacted patients.
Get more information on how Blue Cross is working to help businesses avoid the rising cost of care by visiting these blogs:
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Additional resources that will help employers educate employees on the value of Value-based Care.