Employers
In a competitive labor market, employers are looking for new cost containment strategies beyond shifting more costs to employees. They are pursuing new contract arrangements with providers to help them tackle healthcare prices.
Actions to consider:
- Target work site health promotion programs to the right people.
- Evaluate the value of drug spending.
- Focus more on provider arrangements to tackle price.
Healthcare providers
Healthcare providers, with opportunities to take on more risk and work with employers directly, are focusing on improving care management and optimizing their use of physician extenders and nonclinical staff to keep costs down and optimize patient care.
Actions to consider:
- Assess skills mix.
- Look for new opportunities to manage drug costs.
- Demonstrate value to employers.
- Invest in care management.
Health insurers
Health insurers, in an effort to prove their value to employers, must work to steer patients to the most effective treatments and help providers accelerate pricing transparency efforts.
Actions to consider:
- Look for ways to automate processes.
- Consider alternative therapies.
- Explore value-based purchasing with biopharmaceutical companies.
- Take ownership of collaborating with pharmaceutical companies and providers to manage high-risk patients.
- Be providers' partner in reducing medical costs.
Pharmaceutical and life sciences
Drug companies are focusing on increasing collaboration across the industry, giving stakeholders greater insight into their pricing and the role they play in keeping patients healthy and out of high-cost delivery settings.
Actions to consider:
- Re-evaluate sales and marketing needs.
- Model drug pricing policy impacts.
- Collaborate on pricing decisions upfront.
- Educate providers on personalized medicine's benefits.
