The Kentuckiana Health Collaborative has partnered with the Employer’s Forum of Indiana and other employers and employer-led coalitions since RAND 2.0. Each year, as more and more employers, health plans, business coalitions and all-payer-claims databases submit data the information has become more robust. Enrollment for RAND 5.0 is currently open, and we encourage all Kentuckiana employers and health plans to submit claims.
To enroll go to: RAND 5.0 Enrollment
Why is this study important? Healthcare premiums for the average Kentucky family with employer-sponsored insurance exceed $20,000 annually with $14,000 paid by the employer and $5,000 by the worker. That cost is more than a third of the U.S. median household income and is nearly 40% of median household income in Kentucky.
Transparency and understanding costs are major aspects of controlling costs. The RAND Corporation, whose work began after World War II, provides research and policy analysis on a multitude of areas. Data from the RAND Hospital Price Transparency Study is incorporated with data from the National Academy for State Health Policy, Turquoise Health, Quantros / Healthcare Bluebook, and Centers for Medicare and Medicaid Services into a free, online tool that looks at the highest spend area for healthcare costs – hospitals. SAGE Transparency provides healthcare purchasers, and anyone interested, can use this free tool to access information that will allow them to better compare prices and understand local markets. The website also provides resources on benefit design, network strategies, and provider contracting strategies.
Employers are the sleeping giants in controlling healthcare costs, and often feel at a loss for how to control their rising healthcare costs year after year. It is critical to activate all size purchasers of healthcare to drive an accountable, high value healthcare system. The KHC works collaboratively with multiple healthcare stakeholders to improve health, price, and waste and move toward a more affordable, value-based healthcare delivery system that does not incent volume over value.