Anthem is showing the way with a slew of efforts to control rising healthcare costs for individuals as well as the nation at large
The rapidly rising cost of health care is one of the most pressing
issues that the U.S. is facing today and it is eating into the income
gains of the average American family. The increase in health insurance
premiums is leaving people with less cash to spend on other essentials.
According a survey on employer-sponsored health benefits conducted by
the Kaiser Family Foundation and the Health Research and Education Trust
in 2010, premiums for single and family coverage rose over 9% since
last year. The cost of premiums for families has risen from $13,770 in
2010 to $15,073.
Individuals are advised that maintaining a
healthy lifestyle and choosing the right health plan can control the
amount they spend on healthcare. And it’s really commendable when a
leading health insurance provider comes forward to help members do this.
With its history of financial stability, Anthem is showing the way with
a slew of efforts to control rising healthcare costs for individuals,
families, employers, and the nation at large.
Anthem Strategies
to Rein In Health Care Spending
More costly technology,
prescription drug costs and use, unhealthy lifestyles, unnecessary tests
and procedures, and health care fraud are some of the main reasons for
rising health care costs.
Premium break-up shows that private
health insurer profits make up just 3% of the total amount. Up to 87%
goes into medical services and products and the remaining 10% goes into
paying for administrative services like claims processing, enrollment,
billing, provider credentialing and complying with government rules.
Anthem’s is trying to focus on all these aspects to help rein in costs:
•
Helping Anthem plan members save money on care: Anthem has developed
two programs to do this – one uses Google Maps, an online tool and
targeted outreach to help members avoid costly and unnecessary emergency
room visits; the other helps members avoid high costs for services like
MRIs and CT scans. Anthem negotiates with providers to get the best
deal for its members and saves millions of health care dollars annually.
• Measures to try and lower drug costs: Anthem has set up
outreach programs that aim to improve medication compliance and
encourage the use of generic drugs when the doctor recommends them.
Anthem is also working towards reducing harmful drug events and
promoting the better use of medicines.
• Programs to help
members lead a healthy lifestyle: Anthem’s health assessment tool allows
members to assess their health condition and take measures to reduce
risk factors like obesity and smoking. Members with serious or chronic
medical issues can manage their health with Anthem’s programs that come
with 24-7 nursing care.
• Promoting quality care: Anthem is
fixing performance-based payment for doctors and thereby encouraging
treatments that generally work. This health care insurer has special
teams working to prevent, find and recover dollars lost to fraud.
•
Controlling administrative costs: Internal cost control measures that
Anthem is adopting include investment in efficient technology to
streamline claims payment, help reduce costs and improve customer
service. These measures are aimed at controlling customers’ health insurance premiums.
The effects of
Health Care reform could vary between individuals, with some paying more
and others less. Nevertheless, Anthem’s attempts to lower health care
costs set a laudable example for the health insurance industry.
