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Today we’re sending the email below to brokers and group administrators to share information on how we are addressing major cost drivers to deliver customers more value.
For questions about our monthly email series, reach out to Gabrielle Cipriano or John Hawbaker.
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How our cost-savings programs are delivering more value in 2022
At BlueCross, our priority is improving the health of our 3.3 million members and the communities we serve. To succeed, my team is charged with developing products and services that deliver reduced costs and better health outcomes.
This includes practices like consistently monitoring our networks to make sure we are delivering the right balance of access and affordability. The network discounts health care providers agree to are the single biggest way we can lower costs for you.
Our teams are also working together to use data to better identify and prioritize members that have or will develop conditions that lead to higher costs. Then, we’re proactively stepping in early to make an impact.
Here are additional programs we offer that support better member outcomes and lower treatment costs:
- Our Medical Home Partnership has resulted in $5.76 savings per member per month . and a 2.1% reduction in inpatient admissions per 1,000 members. This proactive model for holistic care is carried out by our BlueCross Medical Centers operated by Sanitas and other primary care practices statewide.
- Our Advanced Specialty Benefit Management program is saving self-funded groups 14% on provider-administered specialty drugs. It also resulted in a 1.5% reduction in premiums, or $5-10 per member per month projected savings, for our individual and fully insured group plans.
- Our audit control programs led to $92 million in additional savings. We work hard to ensure that we’re covering the right treatments in the right settings based on medical evidence – and that health care providers are coding claims correctly. And we aggressively monitor for instances of fraud, waste and abuse.
We have a duty to look at every decision and every initiative through the lens of financial responsibility, because we know: every dollar we use to pay for care comes from employers like you and our members.
All of these savings efforts help us deliver on our commitment to affordability and promise of peace of mind.
Robin
Senior Vice President, Operations, & Chief Marketing Officer
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Questions or comments?
Want to learn more about something I shared today? Have a question or concern to share with BlueCross leadership? We’ll get back to you promptly.
leadership@bcbst.com > |
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