Here are the troubling facts: 60 percent of bankruptcies are due to medical bills. Despite having year-round insurance coverage, 10 million Americans ages 19-64 face medical bills they cannot pay.1 About 15 percent of people say that at least once in the past two years, they couldn’t get the healthcare they needed; 58 percent of those said it was because they couldn’t afford it. And 19 percent of poll respondents report that they didn’t fill a prescription because of the cost.2
Here are the consequences for U.S. businesses: Delayed care and noncompliant patients lead to acute or chronic care that bring higher health plan costs. Higher contingent labor costs. Higher absenteeism and presenteeism. The only thing lower, in fact, is productivity.
Specifically, multiple studies show delays in getting care can lead to:
- Increased emotional distress
- Increased complications
- Higher treatment costs
- Increased hospitalizations3
But there’s good news: An innovative benefits solution targets the most expensive plan costs for employers and employees, and its aim is true. Value-based surgery benefits from BridgeHealth require little or no out-of-pocket payments by workers. They save plan sponsors 30-50 percent.4 These specialized benefits improve quality, as well, through episodic, bundled pricing with the nation’s top-quartile surgery centers and hospitals, as ranked by a nationally recognized, independent ratings service.
It’s no longer a pipe dream. Businesses can provide quality, affordable surgical care that keeps their workers healthy and productive, and they can do it today.
- LaMontagne, Christina, “NerdWallet Health Finds Medical Bankruptcy Accounts for Majority of Personal Bankruptcies,” www.nerdwallet.com/blog/health/medical-bankruptcy/, March 26, 2014.
- Kodjak, Alison, “Medical Bills Still Take a Big Toll, Even With Insurance,” NPR All Things Considered, March 8, 2016.
- National Healthcare Quality Report, 2013 [Internet]. Chapter 5: Timeliness. Rockville (MD): Agency for Healthcare Research and Quality; May 2014. Available from: http://www.ahrq.gov/research/findings/nhqrdr/nhqr13/chap5.html
- Average percentage savings by plan sponsors on BridgeHealth bundled surgical case rates versus negotiated in-network surgery costs through clients’ managed care plans.