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Article Excerpt
Hewitt Associates, a global human resources services company, recently announced the development of its new clinically oriented actuarial model designed to help employers quantify the cost impact of implementing a value-based design, starting with prescription drugs. The tool was developed in collaboration with Mark Fendrick, MD, of the University of Michigan, and Michael E. Chernew, PhD, of Harvard Medical School.
Hewitt's new value-based design model enables companies, in real time, to analyze the compliance effects and financial impact of reducing employee cost sharing for specific high-value health care services. Using companies' existing prescription drug utilization and cost data, the tool also helps them understand how to make these clinically desirable plan design changes without increasing overall health care costs.
"When we talk about value-based plan designs, we recognize that employers have many different options and that value-based design is just one component of an organization's overall program,"...
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