A peek at what’s inside.
Value can be calculated with a simple equation:
Maximum quality + minimum cost = value
The healthcare industry faces this equation constantly. Healthcare must balance the quality piece of the puzzle with updated treatment protocols, physician quality ratings, regular screenings for common diseases, and new miracle drugs. On the other hand, healthcare is increasingly expensive for both payers and patients, and the system struggles to eliminate wasteful spending, identify inefficiencies, and make sure all patients have the financial means to access care.
This same equation is a balancing act for self-insured employers, who take on the full weight of rising healthcare costs and improving employee health. They must find the right mix of attractive, comprehensive benefits for employees to help them retain talent. But they also must consider annual budgets for costs that are hard to predict (and often out of control).