The high cost of medical care in the United States is a significant challenge for US employers, impacting everything from profits to the economy and individual behavior. Several driving forces behind this issue include an aging population that leads to more chronic and costly conditions, primarily driven by poor overall health of the workforce.

An unhealthy workforce drives demand for more expensive healthcare services, which escalates costs. While beneficial, new medical technology, advanced treatments, and diagnostics come with a hefty price tag. Coupled with inflation and high administrative expenses, higher utilization of these newer and more costly medical technologies contributes to the escalation of costs for employers.

While we cannot do much to affect costs driven by demographics, increased utilization, new and expensive medical technology, poor health, inflation, and high administrative costs, we can impact two factors of increased healthcare cost without much disruption or abrasion to employers and their employees. These factors are specialty medication costs and fraud, waste, and abuse.

As an employer, you can reduce your annual healthcare costs by roughly 10-12% annually by addressing these two issues inside the health plan. With our help, you can take control of your healthcare costs and keep your business profitable while ensuring the health and well-being of your employees. Let’s work together to solve this challenge and make healthcare more affordable.