This was an immensely satisfying project to work on with CancerCare, a very special client of ours. Also got to work with Loriana Hernández-Aldama, a real pro. Very important information about #healthinsurance.
You know how most people complain about the cost of prescription drugs and what their benefits do not cover? Did you know that prescription preauthorization for chronic serious illnesses, such as cancer, can cause delays in treatment that lead to increased hospitalizations? This can then increase costs to employers in medical benefits, retention, employee well-being and productivity. Insurance companies and benefits consultants recommend "Utilization Management" (UM) as a cost-saving strategy to control patients’ access to healthcare services, such as prescription drugs. Yet UM can jeopardize outcomes for employees facing cancer and other serious illnesses. These restrictions often prevent patients from accessing the medications they need and have a negative impact on both the employee and employer. In today’s environment, employers are looking to attract and keep employees, but many employers fail to appreciate the value and importance prospective employees and current employees place on their health coverage. Is it truly a benefit or is it a detriment to their overall financial situation, health, and productivity? In a 2020 ADP survey, 60% of employees named health care as the most important benefit when considering a job offer. When healthcare plans include restrictive UM tools, employees with cancer are likely to experience delays in care and increased out-of-pocket costs. These policies ultimately cost companies, too, as employees who don't receive quick and effective treatment are more likely to be absent and less productive when they are at work. CancerCare’s Employer Toolkit is a comprehensive guide offering recommendations to help employers and benefits managers create a strong, patient-focused prescription coverage plan that can reduce long-term costs and increase employee satisfaction and productivity. Watch this short video to learn more: https://lnkd.in/d3HVMDc2 #healthinsurance #utilizationmanagement