Towers Perrin's Health Care 360 Performance Study - Value for Your Organization
Towers Perrin’s Health Care 360 Performance Study Value For Your Organization
In today’s challenging environment, employers must be able to actively engage their employees and manage overall health care costs. But effective management is impossible without the right information. By benchmarking your performance to other top companies, you can begin to gather data that will help you better focus and direct your efforts.
To succeed, companies must go beyond mere cost containment and implement a broader, more strategic approach to health care. Towers Perrin’s Health Care 360 Performance Study can help.
Traditional benchmarks such as total costs by plan, total costs by industry, and employee contribution rates help your company pinpoint where plan design and vendor modifications may be warranted.
Medical cost benchmarks <ul><li>Actual Cost Comparison </li></ul>Database ABC *Total costs represent an enrollment weighted average of all plan types. Indemnity CDH HDH PPO POS HMO Total* Your actual costs are 5% above the benchmark in total.* Key Message Indemnity CDH HDH PPO POS HMO Total*
Medical cost benchmarks: Industry breakouts Total for All Plan Types Database ABC Manufacturing Database Findings: Your Cost vs. Your Industry Cost Your company has higher costs than your industry. Key Message
Medical cost benchmarks: Employee cost sharing Total Program Employee Dependent* *Dependent includes spouse, children, family, etc. Employee Contributions as a Percentage of Total Cost: Database vs. Your Company Employers are reviewing the difference in employer “subsidy” between employee and dependent coverage. Key Message Database ABC
Our approach actuarially adjusts your total cost benchmark to account for your company’s unique demographics, family size, geography and plan design richness — resulting in a benchmark that is analytically meaningful and actionable.
Medical cost benchmarks: Overall program efficiency Overall program efficiency measures the performance of your total program against the overall database average. Overall efficiency results are a function of both the efficiency of each plan offered and the enrollment in each plan. ABC Adjustment Factors Custom Benchmark Database Actual Age/ Gender Family Size Geography Plan Value Composite Your total program is 7% more efficient than the database. This translates into a current savings of $1.6 million. Key Message
By benchmarking nontraditional measures such as population health and disability factors, we help you develop the comprehensive view needed to address a uniquely complex issue.
Population health benchmarks <ul><li>Database Findings: Employee Predictive Profile (EPP) </li></ul>EPP Health Status Score 25th percentile 50th percentile Average 75th percentile ABC Your population’s demographics suggest that the health of your population is below average. Key Message
Population health benchmarks <ul><li>Database Findings: Short-Term Disability and Workers Compensation Measures </li></ul>WC Incidence/100 EEs STD Incidence/100 EEs STD incidence is above average. WC incidence is above average. Key Message 25th percentile 50th percentile Average 75th percentile ABC 25th percentile 50th percentile Average 75th percentile ABC
Towers Perrin’s Health Care 360 Performance Study provides a foundation that allows you to coordinate actions and drive meaningful results. We’ve worked with many companies to deliver quantifiable value in this area. We welcome the opportunity to share our insights and perspectives with your company. Visit www.towersperrin.com for more information.