Vital Signs - Employer Healthcare Insights

Healthcare professionals have and always will be dedicated, hardworking, and dependable in times of crisis and in times of calm. This has never been more tested and true than with the COVID-19 pandemic. These often unsung heroes are on the frontlines, putting themselves at risk to take care of others in their time of need. 

In a time of so much uncertainty, many of us are being asked to stay home and wait while healthcare professionals are being called to do quite the opposite. The healthcare system is needed now more than ever. 

NeoPath Health is committed to reducing health disparities for tribal communities by working with tribes to implement managed onsite and near-site clinics. NeoPath’s onsite clinics provide culturally-sensitive health and wellness services with pharmacy, lab, imaging, acute care, and primary care all located onsite.

Onsite clinics are gaining popularity in tribal communities because they improve a tribe’s access to healthcare, which may lead to a healthier community. These clinics are located on or near tribal land to bring pharmacy, lab, imaging, acute care, and primary care to the community. A patient’s cost for these services is often covered by the tribe, further reducing the barrier to accessing care.

Tribal communities face daunting health disparities. According to the Indian Health Service (IHS), life expectancy is 5.5 years lower for American Indian and Alaska Natives compared to the U.S. population. Tribal communities also face higher mortality rates for numerous diseases, including heart disease, diabetes, chronic liver disease and cirrhosis, and stroke. 

How much does corporate health care cost?

Next to wages, your organization will spend more on healthcare costs than nearly any other expense this year. In fact, the Society for Human Resources Management predicts that employers will shell out as much as $15,000 per year per employee for healthcare premiums in 2019. That comes to $15 million a year for every one thousand employees. In an organization paying an average annual salary of $40,000, employers can expect to pay 137% of that salary when they include the cost of healthcare - and even more when they consider the other expenses associated with a new hire.

According to 2018 research conducted by The Kaiser Family Foundation, employers contribute an average of $14,069 per year, per employee for family health insurance coverage. This has increased by a surprising 50% since 2010, when the average employer contribution to a family plan was $9,325.

Whether you are genuinely concerned about your employees' health and wellness or you want to stay competitive during the lowest unemployment rate in years, simply offering a healthcare plan may no longer be enough. Here are a few reasons why.

Every year, employer sponsored healthcare costs are rising with no signs of slowing in the future. Therefore, it's vital to learn how to control what you can when it comes to the cost of your employees' healthcare. So, how do you get control of your company's healthcare costs? 

1. Establish a culture of health and wellness 

2. Offer telehealth and virtual visit services 

3. Take control of prescription costs

4. Implement an onsite clinic 

Having an onsite clinic vs. using traditional health insurance plans can impact your health costs in many ways. Not only are there savings to be discovered, but you will also have a clearer understanding of where funds are going and more control over how those funds are allocated.