The annual procurement process of shopping for healthcare and placing vendors on a spreadsheet is not working and proposed healthcare legislation will not take effect for years
Bethesda, MD (PRWEB) September 29, 2009
WellNet Healthcare, a healthcare technology company that enables companies to better manage their healthcare costs, today announced that it has helped client companies realize $350 million in healthcare expense savings.
Savings from more than 250 companies across the U.S. comprise the $350 million, which has been achieved through solutions within WellNet's Point to Point Healthcare® (P2P) platform. P2P supports shared responsibility between plan sponsors, consultants, members and providers to manage healthcare and the risk mitigation of costs in a simplified collaborative environment. Leveraging Rx and medical data, P2P empowers businesses, for the first time, with real-time insight into their current health plans and provides accurate, actionable information to manage their healthcare expenses as they fiscally manage every other aspect of their business. Increased visibility and information validation helps not only improve outcomes but to lower medical benefit costs substantially every year.
According to the Kaiser Family Foundation's "Employer Health Benefits 2009 Annual Survey: "40 percent of employers plan on increasing out-of pocket expenses for workers; about the same are raising annual deductibles and the prescription drug payments; 9 percent plan on tightening eligibility and 8 percent said they plan on dropping coverage completely."
Bucking this trend, organizations such as Cumulus Media, Dewberry and Council Rock School District have all proactively saved $3 million or more partnering with WellNet.
Michael McBride, CEO of HMR Advantage Health Systems, shares similar success saving $1.8 million. "I told my VP of HR this past year that I wanted something that gave me control of my healthcare expenses, not the same 18 percent increase that then gets knocked down to 12 percent. WellNet has nailed it. I've never seen anything like P2P before."
A September 19, 2009 report by Business Roundtable, an association of chief executive officers of leading U.S. companies, finds that "annual per employee health care costs will triple to nearly $29,000 over the next decade without significant marketplace reforms that reduce costs, expand coverage and improve delivery."
"The annual procurement process of shopping for healthcare and placing vendors on a spreadsheet is not working and proposed healthcare legislation will not take effect for years," said Keith Lemer, president of WellNet Healthcare. "We are proud to be delivering new and innovative technology solutions right now to better manage health plans, drive down plan spending and more proactively involve plan sponsors as well as members."
WellNet Healthcare enables companies and their executive management team to measure and manage their healthcare costs by finding and fixing problems using real-time healthcare information to make better business decisions that lower healthcare costs. WellNet's technology subsidiary, Healthcare Interactive, provides a platform for employers and employees to view and manage healthcare costs in a dashboard format. Visit their Web site at http://www.wellnethealthcare.com.