Since the popularity boom of private exchanges and defined contribution beginning in 2014, there still exists a number of barriers to employee adoption. Unfortunately, much of the conversation around exchanges and defined contribution has been focused on hype and skepticism. The fact of the matter is, the concept of a healthcare marketplace has been in existence for some time, it has just taken on a new complexion in the face of rising costs for both employers and healthcare consumers.
The Institute for Healthcare Consumerism (IHC) focuses on innovative health and benefit management and helps employers to engage their employees in their own health and well-being.
The end of the year is a great time for a performance checkup, but without access to peer performance information, it can be difficult to understand how your CDH program stacks up against others in the industry. Fortunately, Alegeus is uniquely positioned to identify benchmarks for operational efficiency and growth, as well as top performance behaviors, from its comprehensive client base that you can leverage to improve performance.
Like it or not, the migration toward CDH is fully underway, making the strategic importance of consumer-directed health plans and benefit accounts that much more significant. Health plans must carefully consider their strategies regarding CDH account offerings.
Plan documents and non-discrimination testing are two necessary, yet incredibly mundane operational and compliance requirements related to the administration of tax-advantaged benefit accounts. For many administrators, plan document creation and non-discrimination testing procedures offer very little strategic significance or market differentiation, yet are costly and require tedious effort.
As an Alegeus client for more than a decade, PrimePay, has grown its CDH business to support more than 1,500 employer groups representing nearly 50,000 benefit accounts across CDH offerings. Understanding the market movement to consumer driven health and the upside potential for their business, PrimePay is partnering with Alegeus to educate the market.
As industry stakeholders, we understand the end game of consumer-directed healthcare (CDH) – educated, engaged and empowered consumers, lower costs system-wide and improved health outcomes. Adoption of consumer-directed health plans (CDHPs) has grown by leaps and bounds over the last 15 years and with that growth has come growing pains. The haste of employers to implement money-saving CDHPs has, in some cases, lead to tactically-driven versus strategically-driven implementations that have resulted in consumer disengagement and ultimately low adoption. While the push toward CDHPs continues, there is tremendous opportunity for those who have a solid plan to offer win-win solutions for both employers and consumers. Continue reading to learn about plan design that leads to better adoption of CDHPs.
For health plans, third party administrators and financial institutions that administer CDH accounts, the selection of an account administration platform, as well as the investment in time and money required to convert an existing portfolio, is significant. If you’re looking to embark on a brand new automation journey or just considering changing vendors, we’ve compiled a list of the top 10 questions to ask when choosing a CDH platform.
Like consumer-directed healthcare (CDH), digital payments have experienced explosive growth over the last 10 to 15 years. How can the healthcare industry proactively progress from the convergence of digital transformation and consumer-directed healthcare growth to ultimately improve the consumer experience in healthcare?
TripleTree is an independent merchant bank focused on mergers and acquisitions, financial restructuring and principal investing services. Since 1997, the firm has advised and invested in some of the most innovative, high-growth businesses in healthcare.