It's quantifiable and can help companies and employees see if they're truly being shrewd healthcare consumers.
Ferndale, WA (PRWEB) September 3, 2008
Nashville, Tenn. -- Many companies measure healthy employees in terms of "lows." Low blood pressure. Low fat. Low cholesterol. Low medical claims. So add a new sign of good consumer health - a low Healthcare Consumerism Index™ (HCI).
Just launched by healthcare consumerism company change:healthcare, the Healthcare Consumerism Index gives employers and employees a wealth of information so both can improve the cost-effectiveness of their healthcare purchases.
"Healthcare costs are a strain on an employer's budget," said Christopher Parks, change:healthcare CEO. "The HCI helps a company guide employee healthcare purchases toward less expensive medical care options. It helps everyone make more value-driven choices."
The HCI analyzes a company's medical claims to identify the highest and lowest prices paid for products and services by an employee population. The high and low prices form the scale's outer ranges, with the low mark representing the lowest possible price paid. Presented as an easy-to-understand score, the HCI marks the actual amount above that best possible price that employees paid for the product. The difference becomes a savings opportunity.
The HCI is also individualized for employees with the high and low range reflective of an employee's individual purchases. The employee's HCI shows the cost effectiveness of their healthcare choices and indicates where different healthcare behavior could result in a lower HCI.
"Let's say the employee's on a Healthcare Savings Account and has a high 'prescriptions' HCI," Parks said. "If he's interested in keeping healthcare costs low, his HCI points to where he could save money simply by purchasing the same prescription at a different pharmacy. And if he's using our website platform, he will see a list of other pharmacies in his area where the prescription costs less."
The HCI can be used for companies having access to their claims data. But it probably brings the most advantages to self-funded companies with employee commitments, such as wellness or disease management programs, and who are experiencing rising premiums.
"The HCI simply opens up a whole new world of managing healthcare costs," Parks said. "It's quantifiable and can help companies and employees see if they're truly being shrewd healthcare consumers."
Contact: Frank Limpus
Email: flimpus @ changehealthcare.com