By Jodi Schweiger, RDN, LD, CDCES, Executive Director Business Development, The Iowa Clinic
It’s no secret that providing healthcare coverage to employees is a major cost. Studies find that health insurance costs for employers range from 73-83 percent of the total premium, depending on the industry and coverage type. And this cost has increased more than 20 percent in the past five years, to an average price of $16-21K annually to cover a family.
So how do you reduce this cost and still provide your employees with quality coverage? High performance networks (HPN) are one option. With an HPN, the employer designs its benefit health plan to incentivize employees with lower copays and deductibles to see a specific network of providers. If employees choose to see providers outside of that network, they will still receive insurance coverage but will be charged a higher copay.
The key measure of success for any HPN is to offer your employees the best care while also offering a cost savings. Critical components for success in managing total cost of care by an HPN provider include site of service, appropriate utilization, and proactive care. The Iowa Clinic has been a leader in the State of Iowa in terms of Wellmark’s Value Index Score (VIS), a measure of quality and outcomes since 2014. Our dedication and commitment to deliver high quality and cost-effective care has led us to unique partnerships with several local organizations. Contact The Iowa Clinic Employer Health Services team at 515.875.9857 to learn more.