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... And I'll send best practices and tips on how to cut health care costs & improve productivity!" Just enter your information below, to subscribe INSTANTLY:
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Frequently Asked Questions
| 1) |
Does the content of the instruction manual apply to companies that are fully insured?
Yes, the content of the instruction manual applies to both fully-insured and self-insured plan. In both environments most companies can cut their health care costs by 30–50% within three to five years.
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| 2) |
Can companies with less than 25 employees benefit from The High Road?
Yes, the concept in the instruction manual can be universally applied to companies of all sizes. At the same time it is important to point out that some small and most micro companies that are not self-insured face the difficulty of “community based” insurance premiums.
What that means is that a reduction in medial claims would have only little direct impact on their health care premiums because the premium amount is based on the community in which the company operates rather than the company specific claims. This is also known as non-creditable coverage. Nevertheless, I strongly suggest that even those companies implement the concept described in The High Road for two very important reasons.
- The implementation in its most basic, but still very effective form is inexpensive. Despite the limited impact it will have on health care premiums, it will have a very positive impact on the secondary health related costs like attendance, short-term disability, absenteeism, training cost, overtime, productivity, workers compensation, accident rates and the list goes on. Combined, these areas have a far greater financial impact than health care costs alone. Recent studies conducted by Harvard University confirmed that companies save two dollars in secondary health related costs for each one dollar in health care cost reduction as a result of health improvement of the insured population.
- The second reason is that congress has passed a bill (HR 525) that would allow the establishment of Association Health Plans (AHPs). Once this legislation receives final approval, it will be possible for small and mirco companies to join together and purchase health insurance through an employer association at greatly reduced costs. Once AHPs are available, companies will be able to pay health care premiums based on their true medical claims. Therefore, now is the time for small companies to lay the foundation and prepare to take advantage of the new legislation to the full extent. Certain Association Health Plans will focus heavily on the prevention of health care costs and the member organizations will experience the same reduction in health care costs as other mid-size and large companies that utilize a Strategic Health Care Cost Management Plan to cut health care costs.
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| 3) |
How much will it cost me to implement a Strategic Health Care Cost Management Plan?
Your unique strategic plan that you are going to develop while reading The High Road will be tailored to your financial situation and your available time frame. Some of the most effective components of the strategic plan that will assure that 90%+ of your workforce participate will be cost neutral for your company.
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| 4) |
Realistically, how long will it take before I will see results through the implementation of a strategic plan?
By following The High Road you will be able to measure tangible results after just six months of the program.
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| 5) |
Do you have examples from companies that have been able to cut their health care cost by 30% - 50%?
Yes, there are several companies that have been able to cut their health care costs by 30 - 50%. A well know example is Lincoln Plating, a mid-size manufacturing company in Nebreska.
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| 6) |
How much time does it take to implement a Strategic Health Care Cost Management Plan?
By following The High Road, you can develop your own strategic plan in less than 24 hours. Depending on the specific circumstances of your company, it might take you just a few days to implement the first phase of the plan or it might take you several months if you decide to make significant changes.
Keep in mind that the best plan is useless if the workforce does not understand the program or does not know how to utilize the individual program features. Therefore, it is important to allow sufficient time to communicate the changes and educate the workforce.
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| 7) |
What Guarantees do I have that I will be able to Cut Health Care Costs?
Not knowing your level of commitment, your current benefit design, your workforce, your overall schedule for implementation as well as a number of other internal and external factors, it is very difficult to provide you with an exact forecast of what you will be able to achieve.
What I can tell you for a fact is that I have yet to find a company that was not able to significantly cut health care and health care related costs by following the Strategic Health Care Costs Management Plan as outlined in The High Road.
The guarantee that you do receive from me personally is that you will receive a 110% refund of your initial purchase price during the first three years if you are not able to produce at least a 30% reduction / avoidance in costs during that three year period.
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| 8) |
Why is everybody not doing what you suggest if it is so successful and can cut cost in half?
That is a great question and I am not sure that I have an equally good answer. I noticed that many people do not base their decisions on logic but on emotions. For that matter, why is everybody not driving around in a vehicle with a hybrid engine which would cut the gas consumption in half, which has grown to a significant expense?
I believe that many companies are trapped by old paradigms on how to manage health care costs, which prevents them to being open to approaches that are outside their realm of experience and comfort. They are so focused on using the newest tips and tricks of managed care every year that they do not see the huge opportunity in front of them. Another restricting factor might be that many senior executives don’t even believe that health care costs can be cut in half. With that level of restricted thinking, they are not open-minded enough to see or realize the existing possibilities. There are many other potential reasons and it is probably a combination of a lot of individual reasons.
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