Claims data transparency empowers employers to act on affordability: survey
Employers that have access to key data on their healthcare spending and costs are more likely to take steps to address affordability and pharmacy benefit transparency, a new survey shows.
A recent survey conducted by the National Alliance of Healthcare Purchaser Coalitions revealed that employers with access to key data on their healthcare spending and costs are more proactive in addressing affordability issues. The survey polled 408 employers, ranging from small to large companies, and found that drug prices, high-cost claims, and hospital prices were the top sources of affordability barriers.
Employers with data to act on these challenges were more likely to implement high-value purchasing strategies, such as direct contracting, centers of excellence, and site-of-care redirection. These transparency measures enable employers to steer patients towards the most cost-effective and high-quality care options, negotiate tiered cost-sharing incentives, and narrow their provider networks.
Pharmacy benefit management (PBM) reform is also a major priority, with 87.6% of surveyed employers rating it as very or somewhat helpful. Nearly half of the employers surveyed (43%) are considering switching to a new PBM within the next three years, particularly smaller employers with 1,000 or fewer employees. Hospital price transparency and hospital rate regulations are also viewed as helpful reforms by most employers, with 84.6% and 82.6% respectively rating them as helpful.
Written by urgent.news from Fierce Healthcare's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
