Soaring healthcare costs spark U.S. employers' urgent mission: cut costs and boost affordability

As healthcare costs in the U.S. soar to unprecedented heights post-COVID-19, close to half of employers expect that these costs will surpass their budget forecasts. To counter this, employers are adopting various strategies to ensure the affordability of their healthcare programs for both their companies and employees. They are concentrating on more competitive and cost-effective plan designs to manage expenses while also prioritizing employee wellbeing.

Our 2024 Best Practices in Healthcare report sheds light on the critical strategies that forward-thinking employers are adopting to manage healthcare costs while enhancing employee wellbeing.

Key insights include

• Proactive cost management: With healthcare cost trends rising at the fastest pace in over a decade, discover how employers are mitigating the financial impact on both the company and its employees through innovative plan designs and smarter healthcare delivery methods.
• Enhanced programs to support high-cost clinical conditions: High-cost clinical cases remain a main driver of healthcare cost trends. Learn about the investments being made in supporting high-cost conditions such as mental health, diabetes, and cancer, ensuring that every employee feels supported and valued.
• Revolutionizing pharmacy benefits: Explore the shift towards alternative pharmacy benefit managers (PBMs) and pricing models that promise more transparency and better value.
• Artificial intelligence in healthcare: Companies see the biggest opportunity for adopting AI tools in supporting their healthcare navigation solutions, enhancing communication and conducting medical claims audits. Uncover how AI is transforming healthcare management.
• Comprehensive wellbeing programs: Gain insights into how companies are expanding mental health and chronic condition programs, enhancing benefits access, and providing substantial financial support.

Explore the findings to learn how your organization can take a proactive approach in reshaping benefits landscapes to foster both affordability and quality care. Complete the form on the right, or below on a mobile device, to download the full report.