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CHICAGO, April 28, 2016 -- Valence Health, a leading provider of clinical integration, population health, and value-based solutions and services, and the American Society for Healthcare Human Resources(ASHHRA), today announced new research indicating that healthcare providers increasingly use their employee health plans as laboratories for value-based innovations.
The survey, conducted with human resources and finance executives at more than 150 hospitals, health systems and other provider organizations, found that narrow networks, site of care utilization, benefit design and physician incentive models are increasingly part of employee health plans.
"This research confirms what many industry insiders have seen regarding provider's assumption and management of financial and clinical risks," said Valence Health CEO R. Andrew Eckert. "Aligning incentives, controlling costs, being transparent with clinical outcomes and involving patients in the care decisions are all aspects of today's well-run employee health plans. As a result, it's no surprise that many provider organizations innovate with their own employee plans and then transfer that knowledge to supporting the patient population."
Key survey findings included:
- Over 75% of respondents self-insure their employees' healthcare. Of those that do not currently self-insure their employees' health, 25% indicated it is somewhat or very likely that they will switch to a self-insured approach next year
- Of those who self-insure their employees, 54% looked to a traditional payor to administer their self-insured plan, while 36% look to an independent third-party administrator (TPA). Those working with independent TPAs were significantly more satisfied, with 50% of those respondents being very satisfied, compared to just 34% who were very satisfied using a payor for administration
- Cost remains the number one driver for healthcare providers when selecting an administrative partner for their self-funded plan
- When evaluating their administrative partners, provider organizations are least satisfied with Medical Management services.
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Valence Health will be conducting a webinar to review and discuss the survey results on Wednesday, May 25 at 12:00-1:00 pm CT. Sign-up for the webinar and/or download survey results now.
About Valence Health
Valence Health provides value-based solutions for hospitals, health systems and physicians to help them achieve clinical and financial rewards for more effectively managing patient populations. Leveraging 20 years of experience, Valence Health works with clients to design, build and manage customized value-based models including clinically integrated networks, bundled payments, risk-based contracts, accountable care organizations and provider-sponsored health plans. Providers turn to Valence Health's integrated set of advisory services, population health technology and value-based services to make the volume-to-value transition with a single partner in a practical and flexible way. Valence Health's more than 900 employees empower 85,000 physicians and 135 hospitals to advance the health of 20 million patients. For more information, visit www.valencehealth.com.
About ASHHRA
Founded in 1964, the American Society for Healthcare Human Resources Administration (ASHHRA) is a personal membership group of the American Hospital Association (AHA) and has more than 3,100 members nationwide. ASHHRA leads the way for members to become more effective, valued and credible leaders in health care human resources. As the foremost authority in health care human resources, ASHHRA provides timely and critical support through research, learning and knowledge sharing, professional development, products and resources, and provides opportunities for networking and collaboration. ASHHRA offers the Certified in Healthcare Human Resources (CHHR), the only certification distinguishing health care human resource professionals.
A photo accompanying this release is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=40039
CONTACT: Kevin Weinstein
Chief Growth Officer
312.771.7883
[email protected]
