Consumer-driven health plans (CDHP)
Study: Employers like CDHPs, but consumers don't
Employers like expense-shaving consumer-driven health plans, according to a survey by the Employee Benefit Research Institute Research and the Commonwealth Fund. But consumers? Not so much. The survey reached 3,158 privately insured adults aged 21 to 64, and used that data to project U.S. trends. The two groups found that only 1 percent of privately-insured Americans--about 1.3 million individuals--are enrolled in CDHPs, which often have a $1,000 initial deductible for individuals and a …
... Read more...Giant firms to build employee health records
A group of large U.S. and European companies have announced plans to create digital employee health records linking hospital, physician and pharmacy data. By linking this data, these companies hope to help consumers better coordinate and drive their own care. The companies, which include Intel, Wal-Mart and British Petroleum, are beginning the effort by developing a joint records standard. Later, each plan to kick in $1.5 million to construct a joint "data warehouse" for storing the …
... Read more...Study: CDHPs improve health habits, lower costs
When CDHPs offer health promotion and wellness incentives, they can succeed in making a positive impact on members' health behaviors, according to a newly-released study by insurance brokerage and consulting firm Aon. The study analyzed plans provided by South Africa's Discovery Health and subsidiaries, including U.S.-based Destiny Health, covering more than two million lives.
Among other conclusions, the study found that monetary, vacation and merchandise rewards for desirable …
... Read more...CVS to acquire Caremark Rx
Drug store chain CVS has agreed to acquire pharmacy benefit management firm Caremark Rx for about $21 billion in stock, merging Caremark with PharmaCare, CVS's existing PBM. The deal creates an "integrated pharmacy services provider" with annual revenues of about $75 billion, and should generate about $400 million in operating efficiencies for the two. The …
... Read more...Cincinnati hospitals publish quality data
It's time for yet another consumer-driven healthcare effort to toot its horn. Starting in early 2007, Cincinnati residents will have access to quality data on 20 metro area hospitals, trade groups announced. The hospitals are participating voluntarily in the effort, which is backed by the Ohio Hospital Association and the Greater Cincinnati Health Council. The GCHC will provide the data through its website, which already offers reports comparing …
... Read more...ALSO NOTED: CVS, Caremark talk merger; WellPoint launches Medicare MSA; and much more...
> Drugstore chain CVS and pharmacy benefit manager Caremark Rx have confirmed that they're officially in merger talks. Release
> WellPoint has introduced what it says is the nation's first Medicare-related Medical Savings Account. Release
> …
... Read more...ALSO NOTED: Group sues Aetna over new product; Utah health lagging; and much more...
> A consumer advocacy group has sued Aetna, along with Connecticut state regulators, claiming that a new low-end product approved for sale by the state offers inadequate coverage. Article
> While the Utah health system is in decent shape, providers could do a better job of providing preventive care, one study suggests. Article
> Another one …
... Read more...SPOTLIGHT: Marketing your pricing to consumers
To survive in a consumer-driven healthcare environment, you're going to have to talk pricing with your customers every day. So it's critical to you develop smart strategies for doing so, says Carolyn Kent, a marketer and guest writer for industry blog HospitalImpact. For one thing, providers should invest in their Web site, finding out from patients what they want to know and providing that quality and pricing information in an easy-to-use package. They should also train staffers …
... Read more...CDHP advocates play high-stakes game
Consumer-driven healthcare has the potential to reshape the industry in positive ways, but if it's handled badly, it could generate a regulatory backlash over the next decade. That's the one of the key conclusions drawn by participants at a recent symposium run by Goldman Sachs and Diamond Management & Technology Consultants. At present, Goldman Sachs estimates that the number of lives covered by consumer-directed health plans will grow from under 4 million in 2005 to 49 million by …
... Read more...Should Wal-Mart go into the healthcare business?
I have a modest proposal for Wal-Mart CEO Lee Scott. In a recent Wall Street Journal article, Scott said that businesses should assume more of a leadership role in... Read more...
