I’m very fortunate to be able to collaborate with a group of true reformers from around the country. We’re committed to transforming our current system of inefficiencies into an efficient system where primary care is empowered, quality and outcomes are measured, and the price tag for services is greatly reduced – Richard Sutton
The note below was sent by Richard Sutton, an innovative benefits consultant in Indiana to all his clients. Richard is highly regarded by his clients for integrity and for delivering better health outcomes and costs far below the rest of the market. This comment is off-the-cuff but the voice of experience – Brian Klepper
By Richard Sutton
The older I get the more committed I become to helping clients save money on their group health insurance costs. But how do you save money in an industry that is so full of greed, so lacking in competition and so far away from true consumerism and transparency?
As many of you are aware, I visited Health City in the Cayman Islands a few years ago and was totally inspired by this facility, its staff of exceptional providers and its founder’s mission. I ask, how can a hospital system in the Cayman Islands perform surgeries at a fraction of the cost of what we pay in the US, with equal or better outcomes?
I’m very fortunate to be able to collaborate with a group of true reformers from around the country. We’re committed to transforming our current system of inefficiencies into an efficient system where primary care is empowered, quality and outcomes are measured, and the price tag for services is greatly reduced.
Please join me on this journey to a better healthcare system.
A few points to consider:
The day after the US Senate passed its healthcare reform bill, hospital stocks soared. Why?
- Unnecessary knee and hip replacements now equal 2% of the US economy. Why?
- People spend far more time researching the cost and value of a car or TV than they do an expensive surgery. Why?
The Big 8 to controlling healthcare costs . . .
- Eliminate all PPO plans and migrate all employees to HSA plans with transparency tools.
- Provide enough employer contribution to maintain participation but enough employee contribution to create ownership.
- Distinguish premiums based on wellness participation or outcomes.
- Establish onsite or near site clinics to control referral patterns.
- Utilize Centers of Excellence programs, Narrowed Networks and Direct Contracts to maximize savings.
- Implement a Population Health / Data Analytics Program.
- Ramp up employee education like never before.
- Be bold and think outside the box.
Lastly, I’m encouraging all clients to develop a 3 year plan. A plan that looks at where we are now in the spectrum of controlling costs and where we need to be in each of the next 3 years. We need a long range plan to reduce healthcare costs . . . using best practices and collaborative thinking.