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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 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

#CarrumInTheNews A story in Human Resource Executive by Dawn Kawamoto highlights HR leaders worries about cancer costs and the options they’re pursuing to tackle it. "Given the rising incidence of cancer across workforces and its increasing treatment costs, HR leaders today are concerned with not only employees’ health and wellbeing, but also the impact that covering treatment and prevention can have on their organization’s financial health.” The story highlights how one way to minimize these costs and help employees is through a care concierge program and partnering with a high-quality COE network such as Carrum Health. “Under such a partnership, employers can make agreements with renowned healthcare providers specializing in a particular area," the article says, "that set fixed, lower prices for otherwise expensive procedures under a “bundled” payment program.” https://lnkd.in/enGJvEEw #carrumhealth #cancercare #cancerbenefits #hrexecutive #oncologybenefit #benefits #hr #humanresources

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  

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

As we move forward into 2024, there are many things we know our occurring in healthcare that need our attention. What can you do for your organization to help combat rising healthcare costs? 41% of employers are expecting to see a rise in late-stage cancer diagnosis due to delayed screenings. Preventative screenings are the easiest way to catch things early and begin addressing conditions to better manage & hopefully save lives! If you don't have a plan to begin increasing compliance please DM me. I would love to talk about how LetsGetChecked can help support your organization to drive down cost, increase compliance and improve the health of employees! #innovation #athomecare #healthcare #hr #benefits #employeeexperience #prevention #cancer #colorectalcancer #chronicconditions #humanresources "Employers double down on cancer and other serious or chronic conditions." - Business Group on Health, Trends to Watch in 2024

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

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

Health care quality and affordability is top of mind for everyone, especially employers. That includes a focus on specific health issues, such as cancer, behavioral health and obesity. Here are some strategies employers can think about to better support the health of their employees, while bringing down the total cost of care: 1️⃣ Cancer is among the top cost drivers for employers, partly due to expensive treatments and the growing prevalence of this disease among younger people. Health plans that help guide employees to high-quality care providers and integrate medical and pharmacy benefits can support improved health outcomes and higher value care. 2️⃣ Behavioral health resources continue to be important for employees and their families. Given this, employers that offer high-quality behavioral health coverage provide significant benefit to their employees, making it more likely people will access evidence-based treatments. 3️⃣ Decisions about whether or not to cover weight-loss medications remains an area of focus. While these drugs offer significant promise, they are not a silver bullet. Instead, employers should consider them in the context of their broader strategies that might include counseling, exercise and nutrition programs. Learn more from my colleague Craig Kurtzweil in this story: https://lnkd.in/ee_VGvRz

🚀 Exciting Trends in Health and Well-being for 2024! 🌐 The Business Group on Health just released its report highlighting the key trends shaping the landscape of health and well-being in 2024. Here's a snapshot: 1️⃣ Rising Health Care Costs: Employers are on high alert as health care costs continue to soar. Despite tech and innovation investments, concerns persist about affordability, driven by factors like inflation, labor pressures, and growing mental health needs. 2️⃣ Mental Health in Focus: With depression rates at an all-time high, 70% of employers prioritize mental health access in 2024. Virtual providers and integrated approaches will be crucial to meeting the evolving needs, including youth and adolescent mental health, substance use disorder treatment, and suicide prevention. 3️⃣ Chronic Conditions Priority: Cancer remains a top cost concern, with delayed screenings contributing to late-stage diagnoses. Employers emphasize prevention, introducing enhanced screenings and focusing on chronic condition management. Personalized care through biomarker screenings and gene therapies is gaining traction. 4️⃣ Concerns on Drug Pricing: Employers express growing alarm over the sustainability and lack of transparency in prescription drug pricing. Specialty medications and innovations like cell/gene therapies drive up costs, leading employers to demand greater transparency and alternative economic models. 5️⃣ Higher Expectations for Partners: Employers demand more from their partners, scrutinizing relationships for cost, quality, and outcomes. Transparency, reporting, and impact measurement are key factors in 2024, leading to potential changes in partner relationships to enhance the employee experience. 6️⃣ Evolution of Well-being: Employers expand well-being strategies to include mental health, financial well-being, social health, community, and job satisfaction. As they balance these against rising costs, a holistic approach to well-being becomes integral to workforce strategy. 7️⃣ Election Impact Uncertainty: The impending U.S. presidential election in November 2024 introduces uncertainty. Employee health and well-being issues, including the economy, taxation, prescription drug pricing, and health equity, will be top priorities for voters. 8️⃣ ERISA Turns 50: ERISA preemption remains critical for self-insured employers, providing consistency and efficiency in benefits. Recent legal battles challenge this, with 93% of employers urgently seeking to preserve ERISA preemption for health equity efforts. Stay informed and stay ahead in navigating the dynamic landscape of health and well-being in 2024! 💪 🏥 #HealthcareTrends #Wellbeing2024 #BusinessHealthcare CSB is committed to staying at the forefront of these trends, ensuring our employees' health and well-being are top priorities. 🌟