Question

1. What are the things employers have tried over the years to manage their health care spend?  What has worked and what has not?

Answer 1

Solution:

Healthcare spending is one of the most important expenses in any organization. It is a must for an organization to have appropriate healthcare perks for the employees so that they are able to take better care of their health. Thus, every company does incur costs because of healthcare. This is why the managers are trying to come up with initiatives to provide maximum healthcare benefits with more optimized costs to control the spending on healthcare.

Companies have come up with various initiatives to ensure that their healthcare spend is controlled. Companies provide health insurance cover to their employees by tying up with an insurance provider. This provides the insurance benefits to the employees at discounted prices and thus the organization is able to save on the expenses. There are also other measures that effectively help in reducing the healthcare spend, these include routine medical checkups, association with external hospitals for quick checkups and relief instead of spending on in-house medical team. Also, many of the companies outsource their healthcare needs and completely erradicate the need to manage the healthcare issues with in-house teams.

Hence, these are the initiatives that are taken to optimise the healthcare delivery within an organization to control their spend on healthcare. Majority of the aspects have worked such as the outsouringof healthcare, insurance providers etc. have worked and are still in practice in many organizations.