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Cancer is expensive: How to help reduce employers’ healthcare costs While HR leaders today are concerned with employees’ health and wellbeing they also face the impact that covering treatment and prevention can have on their organization’s financial health. In this Human Resource Executive article, learn what HR can do to mitigate costs and help employees affected by cancer. https://buff.ly/3W3gwCu #hr #payandbenefits #benefits #healthcare #cancer 

Cancer is expensive: How to help reduce employers’ healthcare costs While HR leaders today are concerned with employees’ health and wellbeing they also face the impact that covering treatment and prevention can have on their organization’s financial health. In this HRE article, learn what HR can do to mitigate costs and help employees affected by cancer. https://buff.ly/3W3gwCu #hr #payandbenefits #benefits #healthcare #cancer

During times of healthcare crises, like life-changing diagnosis, there is nothing more important than support. This is especially true in the employee-employer relationship. However, it is equally important for this support to be provided to employees before health risks emerge. One such example of the need for preventative care is cancer screenings. This article reports that “across the global workforce, 1 in 5 employees are at risk of developing cancer in their lifetime, according to the World Health Organization, and people under 50 years old are increasingly facing cancer, with a 30% spike in the past several years.” Additionally, half of employees who have known diagnosis do not share their diagnosis with their employers. These numbers reveal two critical areas that need improvement. Firstly, communication about the benefits of preventative care is not being prioritized, secondly, very few employers are incentivizing preventative care. Unfortunately, this trend exists in all areas of healthcare. For better employee support, it is important for employers to rectify this problem. #healthcare #EmployeeBenefits #PreventativeCare #CancerCare

The Business Group on Health, a non-profit representing large employers on health benefits, recently unveiled crucial healthcare challenges and trends for 2024. In a detailed report, these insights aim to equip employers with strategies for proactive and effective healthcare management. 📉 Top Healthcare Trends for Employers: 1. Rising Healthcare Costs: The foremost challenge in 2024 is the continued ascent of healthcare costs. Factors such as inflation, provider shortages, escalating mental health challenges, and missed preventive screenings contribute to this surge. Employers are set to harness centers of excellence and scrutinize PBM contracts to counter escalating costs. 2. Subcategories of Mental Health: While mental health remains a core concern, specific subcategories demand heightened attention. Youth and adolescent mental health, substance use disorders, and suicide prevention will emerge as priority areas. The challenge lies in integrating diverse solutions to ensure a seamless experience for employees and their families. Employers will actively collaborate with vendor partners to address these critical mental health dimensions. 3. Focus on Cancer and Serious Conditions: Delayed screenings during the Covid-19 pandemic propel cancer to the forefront as the primary cost driver for employers. Diabetes, cardiac health, and musculoskeletal conditions also command attention. Employers will pivot towards a "back to basics" healthcare strategy, emphasizing prevention, primary care, and personalized interventions such as biomarker screenings and pre-treatment genetic testing. The goal is to detect and address these conditions at an early stage, averting escalation. 💡 Strategic Responses by Employers: In response to these trends, employers are strategically transitioning to value-based care, fostering mental health integration, and embracing a preventive healthcare approach. As the landscape evolves, collaboration and innovation become pivotal in providing holistic, effective, and personalized healthcare solutions for employees. Learn more: https://hubs.ly/Q02bVHkC0

https://lnkd.in/ewaN8Y7v Out of the three main trends employers should watch in 2024, it’s no surprise that rising healthcare costs are the first concern. Many #employers have already begun to combat skyrocketing costs by turning to #ValueBasedCare solutions to help them deliver quality care at a reduced cost. In #Tennessee, Vanderbilt Health Employer Solutions provides value-based #health #benefits that address specific population health needs. Learn more at https://lnkd.in/gcQiFKRh

To optimize both cancer care and cost, employers are realizing they will have to do things differently to get different results.    As a member of Business Group on Health, it was no surprise to me that the 2024 large employer survey showed cancer to be the #1 cost driver for large employers for the second year in a row. One way employers are addressing this concern is through innovation - looking for partners who are innovating and challenging others within the broken healthcare ecosystem to do better. This is very different from the more traditional “don’t rock the boat” approach to benefits and is encouraging to see.   #healthcarecosts #employeebenefits #businessgrouponhealth #privatehealthmanagement    https://lnkd.in/dH7eAjWf  

Has CANCER ever impacted you? I believe, most people will say "yes", including myself. Do you know how HR can help? Provide the tools, information, and guidance your employees need BEFORE this becomes a "reality". Early detection can help improve health outcomes for plan members and lower health plan spending for employers. Learn how increasing preventive care engagement can reduce the impact of catastrophic claims on employer health plans: https://usi.info/3W0Y9Oz Please reach out to me with questions and I will be happy to guide you through the steps USI is taking with our clients to help educate and favorably impact employee engagement. #USI #USIONEADVANTAGE

Chief Healthcare Executive: "Employers are concerned about rising healthcare costs, but they also see other trends to watch in the year ahead. The Business Group on Health released its list of trends to watch in 2024, and they include some familiar concerns, such as cancer costs and mental health. However, employers are also saying they are growing frustrated in the performance of some of their vendors and partners. They are also taking a broader look at the well-being of their employees." #healthcareindustry #healthcarecosts #employeebenefits https://lnkd.in/gJFmTCSp Nick Stefanizzi, Dale Sagen, Renya Spak

I found this part of this article so telling: "Cancer is the single largest cost driver for employers, the Business Group said. Close to half of employers expect to see higher numbers of late-stage cancers due to deferred or skipped screenings, leading many to offer enhanced options for preventive care and greater patient navigation." Employers can - and many are- do things to make screenings more accessible and top-of-mind for employees. Use health awareness months to promote the importance of screenings for breast or colon cancer and point employees to what their benefits may cover. Patient navigation doesn't have to be the sole responsibility of healthcare providers - employer plans can play a role. #patientexperience #wholepersonhealth https://lnkd.in/ej3bZeTb

With 1 in 5 employees at risk of developing cancer in their lifetimes, HR leaders would be well served to pay attention to the expensive and rising cost of treatments. What can leaders do? Ideas include prevention and support. https://lnkd.in/enGJvEEw #CancerAwareness #HRLeaders #EmployeeHealth