Healthcare cost control is a potential new frontier for shared services, whether those costs are controlled by HR, Finance or Global Business Services. With rapidly escalating costs, high error rates and very poor financial alignment with your third party administrator, healthcare costs are badly in need of tighter scrutiny. Please read the following story from USA Today on the wildly varying costs of surgery, even within the same metropolitan area:
Call Out: View PDF of story
If an organization with the resources and deep expertise of Blue Cross Blue Shield struggles to keep healthcare costs in line, how can our organization keep these rapidly escalating expenditures in check? The answer may lie with finHealth Navigator, offering education on critical healthcare issues, full cost transparency, valuable peer benchmarks to see how we stack up and proprietary scoring algorithms to flag claims that were paid incorrectly.
Knowledge is power when it comes to negotiating with providers/carriers, identifying specific medical procedures to be carved out for more advantageous pricing, understanding diseases/conditions that might be impacting our workforce or reducing utilization of high cost services like emergency room visits.