Maximizing ROI on health benefits was the topic of the day  September 15, 2010, as Wallace Welch & Willingham clients and prospects gathered at the St. Petersburg Yacht Club for a seminar presented by W3 University.  Highlights of the event included:

The Next Generation of Value Based Benefits – David Horn, MBA explained how Pitney Bowes and other major employers have used value-based benefits and plan benefits based on a wellness model to reduce medical costs, workers comp expenses and absenteeism and presenteeism rates.

“Lowering out of pocket costs for high value services has been found to improve access and use of those services.”

A Case Study in Transforming Benefit Strategies – John Kahle discussed the design and implementation of wellness programs and funding options that effectively control benefit costs while supporting a more value-based approach to employee benefits.

“Look at healthcare as an investment, not an expense.”

New Ways to Control Pharmaceutical Cost – David Hunt explained how using value-based pharmacy benefits and a transparent model PBM can reduce pharmacy expenses and also provide better medical care and outcomes.

“PBM pricing should be fully auditable down to the individual claim.”

Onsite Clinics Can Reduce Costs in Workers’ Comp and Health Insurance – Ray Tomlinson discussed ways Florida employers have reduced medical, workers comp and pharmacy expenses using onsite medical clinics.

“An onsite health center can pay for itself very quickly out of savings from the health plan.”

Data vs. Opinion: Data Will Always Win! – Richard Kersh spoke on using data analysis to measure results of your wellness program and develop risk management strategies to reduce health care cost.

“Utilize empirical evidence to direct future plan design and risk management strategies.”

Controlling Behavioral Health Care Cost After Mental Health Parity – Chuck Nechtem explained how to design a program that meets the letter of the law while providing excellent care to employees and dependents.

“Under the mental health parity act, mental health/substance abuse benefits must mirror medical/surgical benefits.”

How to Help Your Employees Get Better Outcomes and Reduce Medical Expenses – Lynda K. Smith shared that referring plan participants to the proper medical providers can result in better medical outcomes, faster recoveries and lower medical expenses by as much as 90% - even if all the providers exist in the same network.

“If you want to stabilize your healthcare costs, you have to change the way healthcare is purchased.”