Every American should have access to high quality, affordable healthcare. The US spends nearly double the average of other comparable nations yet has among the shortest life expectancies of those same comparable countries.
Healthcare premiums for the average American family with employer-sponsored insurance is around $20,000 per year, $14,000 paid by the employer and $5,500 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.
These rising healthcare costs have caused 95% of the wage stagnation over the last two decades as businesses and workers have absorbed more and more healthcare expenses. Increasing resources going to healthcare strain government, businesses and individuals’ budgets.
Unfortunately, paying more for care does not mean we get better or safer care or are healthier as a result. In fact, sometimes the most expensive treatments are not the best. In many cases, they are unnecessary and could even be harmful to patients. Paying less for care that is not high quality also does not drive better value and often results in more spending.
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.
The KHC’s key initiatives to drive healthcare affordability include:
Hospital Price Transparency Study
Advancing price transparency through purchaser engagement
U.S. employers spend billions of dollars on health care services. However, a lack of information limits the ability of employers to monitor the prices negotiated on their behalf, to implement innovative insurance benefit designs, and to ensre insurers are negotiating favorable prices. If employers have access to the information on prices needed to be better-informed customers, they can do a better job shopping for healthcare on behalf of their employees.
Kentuckiana Health Collaborative president and CEO Randa Deaton announced her resignation after 18 months as the organization’s inaugural President and CEO. Randa has served the KHC for 17 years as the Corporate Director of the UAW/Ford Community Healthcare Initiative (CHI) and most recently as President and CEO since spring 2020, […]
On September 14, 2021, the Kentucky Transformational Employment Program (KTEP) was launched at the Kentuckiana Health Collaborative’s September Community Health Forum. KTEP is a voluntary program for employers who facilitate assessment for substance use disorder treatment for offerees or employees who test positive on employment-related drug screens while maintaining their […]
For the first time, Kentucky employers purchasing healthcare benefits have aligned behind a set of core measures to drive improvements in prevention, behavioral health, and chronic disease care, with a focus on cost, utilization, and experience. The new Purchaser Priorities are taken from the latest Kentucky Core Healthcare Measures Set […]