Mar 20, 2020 | Alternative Plan Design, Cost Savings, Direct-to-Employer Contracting, Reference-Based Pricing, Savings
In 2019, MedBen clients who integrated direct-to -employer contracting and reference-based pricing (RBP) strategies into their plan saved 24.7% on claim costs compared to their previous PPO discounts. RBPs effectively reduce plan costs because they can be customized...
Mar 19, 2020 | Cost Savings, MedBen WellLiving, Preventive Care, Primary Care, Savings
Practicing timely preventive care saved MedBen WellLiving clients 7.8% on average per-employee claim costs in 2019 compared to non-WellLiving clients. According to the Agency for Healthcare Research and Quality (AHRQ), the top one percent of health care spenders...
Feb 20, 2020 | Brand Name Drugs, Cost Savings, Generic Drugs, Prescription, Rx Costs, Savings
Generic drugs provide the same high quality as their brand-name equivalents but at substantially lower costs. On average, the price of a generic drug is 80 to 85 percent less than its branded counterpart while meeting the same rigid FDA standards for safety,...
Feb 8, 2020 | Cost Savings, MedBen Rx, MedBen Rx Advocate, Pharmacy Benefits Manager (PBM), Pharmacy Services Administrator (PSA), Prescription, Rx Costs
MedBen Rx Advocate offers clients true transparency by removing the ability for pharmacy benefits managers to manipulate drug pricing. By using fee-based pricing, we avoid the margin markups that PBM “middlemen” use to inflate their profits. The Hill reports that...
Feb 7, 2020 | Cost Savings, Emergency Room (ER), MedBen Analytics, Reporting
Emergency room benefits can be tricky, as no health plan wants to discourage individuals from visiting an ER when the need is vital. However, with reports stating that average ER costs have increased 176% over a ten-year period, the need to examine usage is obvious....
Jan 26, 2020 | Announcements, Claims Management, Cost Savings
In 2019, MedBen clients saved, on average, $18.13 per employee per month through targeted forensic claims audits. These targeted claims produced an additional 58 percent savings, over and above any PPO discounts. Great numbers like these just don’t happen. We...
