Ready to build a bolder benefits blueprint? 2020 was a year like no other. The COVID-19 pandemic turned everything upside down and kept us busy in so many unanticipated ways. We want 2021 to be a year about making bold proactive decisions around benefits rather than having to be focused on reacting to new regulations. Our 2021 education series, Boldly Building Benefits, lays a foundation to help employers stretch their comfort level and incorporate bold action to proactively address COVID-19’s long-term impact on their health plan. We kicked off the Boldly Building Benefits series by hosting a week-long virtual conference that provided insights on industry trends and market innovations for employers to leverage while building their multi-year benefits strategy. Inside you will find key takeaways from these sessions as well as information on upcoming events that will continue to build on the learnings from the previous webinars.
©HORAN 2021
COVID-19’s IMpact on health care Historically, external disrupting events like recessions have had a significant impact on utilization and health care spending. But COVID-19 is different. Health care costs have stabilized, but perhaps not for the right reasons. Employers have benefited from delayed elective procedures, the shift to telemedicine and a reduction in emergency room utilization. However, we have yet to see the true impact that more harmful data trends will have on the health care system such as the decline in preventive care visits and screenings.
THIS DATA IS BROUGHT TO YOU BY
POSITIVE DATA TRENDS FROM COVID-19
SM
Primary Care Office Visits Declined by 30% from 2019
30% 50%
30%
Emergency Room Visits Decreased by 30% from 2019
>50% Decline in Breast Cancer, Cervical Cancer and Colon Cancer Screenings+
17%
TeleHealth Utilization Skyrocketed (17.7% in 2020 vs 0.7% in 2019)
1 in 3 Adults Reported Symptoms of an Anxiety Disorder (vs 1 in 12 in 2019)*
12%
InPatient Admissions are 12% Below 2019 Counts
+2020, EHE Health Survey Data *2020, National Center for Health Statistics Study
30%
HARMFUL DATA TRENDS FROM COVID-19
Key Learnings from the March Microbytes The Boldly Building Benefits series is comprised of Microbyte sessions that provide a spotlight on where we see marketplace solutions and innovation coming together under a focused topic. In March we hosted four Microbyte sessions: • Cost Drivers and Solutions for Self-Funded Employers • Medical Trends and Solutions for Fully-Insured Employers • Tools to Improve Your Pharmacy Strategy • Legislation Shaping the Future of Health Care and Benefits Below are key learnings from our first four Microbytes:
SELF-FUNDING
FULLY-INSURED
PHARMACY
LEGISLATION
Implement the best tools to mitigate & manage risk and address chronic condition prevalence with health outcomes innovation.
Stabilize costs by improving health through primary care engagement and proactively managing eligibility.
Start now! The longer you delay entering the pharmacy ecosystem the harder it will be because the landscape will continue to evolve.
COBRA subsidies, potential for National Paid Leave policy, corporate tax increases, etc. are changing the health care landscape.
Contact Chris Huggard, Education & Events Manager at HORAN, at ChrisH@horanassoc.com if you missed any of the Microbyte sessions and would like to view the webinar recording(s).
Continue to Build with Us—Attend a Future Microbyte! We are hosting more Microbytes throughout the year. Dates and details will be arriving in your inbox shortly. Here is a look at what’s coming up: • May: Mental Health • June: Employee Perks • August: Absence Management
StART BUILDING YOUR BOLDER BENEFITS BLUEPRINT The main takeaway from our Boldly Building Benefits series is that we want employers to get comfortable with the uncomfortable by making bold moves to capitalize on market innovation. Below are proactive actions employers can take to gain control of future health care costs.
While you need to invest in health improvement with limited ROI data, there is enough proof in the results.
If you want to get c ontrol of cost containment you are g oing to have to push your employees to improve their health. A sustainable cost impact will not comefrom a single solution— you need to have a combination of adds and deletes every year.
You need to be constantly looking at what’s on the horizon and be open to new solutions that breakthe status quo.