Posts Taged cost-effective-healthcare

Predictive Analytics and Your Health

predictive analytics for healthcareMost health organizations currently use descriptive analytics to document and report on what happens in the past. While descriptive analytics are useful, predictive analytics take the interpretation of historical data one step further. Predictive analytics involve studying patterns and trends in historical health data to make predictions about the future. For example, let’s say you have diabetes. Your healthcare provider can determine how at-risk you are for thyroid disorders commonly associated with diabetes by studying how patients similar to you have progressed in the past. This information will then allow them to develop a preventative treatment plan specifically for you and your health.

As value-based care models grow in popularity, predictive analytics become more important to health management. In order to provide quality care focusing on long-term health instead of quantity of visits, organizations need the right technology to provide accurate data. Incorporating predictive analytics tools into a population health management plan is an easy way to implement effective health care methods focused on preventative treatments. Here are a few additional benefits to having predictive analytics:

  • Cost-effective

Being able to predict when patients will need what type of care will save health care organizations money. Instead of wasting valuable resources trying to diagnose and treat an illness when a patient begins to notice symptoms, providers can use predictive analytics to narrow the possibilities and make more accurate diagnoses.

  • Improved long-term health

Predicting future health problems will also help providers create wellness plans tailored to meet the needs of each patient. These customized wellness plans, like our personal health management plans, will focus on the long-term health and preventative treatments to improve the well-being and health of each patient.

  • Fiscal incentives

Instead of using the traditional fee-for-service payment methods, organizations can adopt value-based care models where providers are rewarded for having patients with fewer visits and improved health. Not only will fewer resources go to waste, but providers will also have financial incentives to encourage them to provide quality care for their patients.

You can learn more about how we’re developing sophisticated preventative treatment plans and wellness programs at Catholic Benefits Trust by contacting us!

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Why Private Insurers Adopt Value-Based Care Models

why private insurers adopt value based care models similar to catholic benefits trustAccountable care organizations (ACOs) are becoming increasingly popular in the private sector as well as among government contracted organizations. Despite the many challenges of transitioning to a new model, private insurers are interested in the alternative payment methods and benefits ACOs provide. In fact, of the estimated 750 public and private ACOs in the US, about half of the contracts are with private insurers.

So, why is the private sector adapting to this coordinated care model? Switching from a fee-for-service model to value-based care isn’t an easy transition. Not all health systems allow for such a huge structural change. Those that do decide to take the risk, however, find ACOs effective for several reasons.

  • The value-based healthcare model allows providers to address rising healthcare costs without sacrificing quality. A value-based model places the emphasis on the patient by focusing on preventative medicine and treatment plans. Instead of the fee-for-service model where frequent patient visits means better compensation for doctors, the ACO model rewards physicians whose patients have less visits.
  • Today, real-time data allows everything to be analyzed thoroughly from how every penny is spent to details of patient symptoms. With accurate, reliable data to support the effectiveness of value-based models, it makes committing to the transition seem like less of a risk to private insurers.
  • Value-based care and ACOs also increase cost savings. A fee-for-service model with frequent patient visits not only consumes a doctor’s valuable time, but it also wastes resources. By reducing patient visits and increasing a focus on preventative healthcare, organizations can save money and resources.

At Catholic Benefits Trust, we understand the benefits and advantages to using a value-based model. As a nonprofit organization dedicated to serving the Catholic Church, we provide improved group health plans with Catholic values in mind. Members of CBT receive full ownership of their medical data as well as a personal health management plan based on a thorough analysis of that data. We also have a team of personal health nurses to assist our members with any health-related questions or concerns.

If you’re interested in learning more about the benefits of value-based care organizations or the Catholic Benefits Trust, feel free to contact us!

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How You Can Benefit From Joining An ACO

cost effective health care focusing on preventive medicine with accountable care organizationsThe traditional health care payment system favors quantity over quality. Because health care providers are compensated on a per service basis, they profit more from a high volume of patient visits, treatments, and procedures. This system isn’t conducive to preventative medicine because a healthy person wouldn’t generate as much profit as an unhealthy person.

How do accountable care organizations (ACO) solve this problem?

An ACO differs from the traditional system by rewarding health care professionals for keeping their patients healthy and reducing the number of procedures they need. Partnering with an ACO means the focus is on quality of care instead of quantity. Here are 3 reasons why you should consider partnering with an ACO:

1. The focus is on the patient, not the paycheck. The compensation system of an ACO facilitates more communication among caregivers and patients. Because one single doctor doesn’t have all the answers all the time, communication among a patient’s multiple doctors is important for giving accurate diagnoses and treatment. The ACO system requires communication by giving physicians an incentive to find care options specific to each patient’s needs.

2. Patients will have access to a larger team of healthcare professionals. An ACO brings health professionals and providers that share similar values together. As part of an ACO, patients and professionals will have access to the expertise of other professionals within their ACO’s network. This network also means that patients waste less time filling out forms and answering questions about their health. Because every member of the ACO is connected, patient information can be shared easily and securely among them.

3. Preventative care becomes essential to reducing costs and keeping patients healthy. This cost-effective care model means everyone benefits by improving and maintaining the health of patients. Not only does a patient’s health become more of a priority, but preventative care reduces long term spending. When you identify and treat a health problem early on, you save on possible costly, invasive treatments that would have been needed in the future.

At the Catholic Benefits Trust, we take a similar approach with our healthcare payment system. Instead of focusing on profits, we focus on providing the best care options for our members. You can learn more about our flexible, low-cost health care solutions on our website or when you contact us.

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3 Ways To Get Cost-Effective Benefits

find cost effective healthcare at Catholic benefits trust for nonprofits

Health insurance rates are still on the rise despite recent legislation making it more accessible to a larger population of people. Staying on top of increasing rates is a major obstacle nonprofit organizations and employers must face. So, what can you do to cut costs while maintaining decent health care services for your employees? Here are a few ways employers can start saving:

  • Invest in Employee Wellness

Helping your employees develop and maintain a healthy lifestyle now will save your organization money in the future. It’s estimated that 60-75% of healthcare expenses in the U.S. could have been avoided with better lifestyle choices. For example, encouraging employees to quit using tobacco is one way a wellness program can effectively help your employees while also cutting health costs.

  • Consider a Private Plan Exchanges

You also have the option of a plan-exchange approach. Nonprofits can work with a private health insurance exchange to select a plan that meets their needs. A private exchange collects a limited number of plans from different commercial insurers. While there aren’t as many options in a private exchange, it makes certain commercial plans more accessible to nonprofits.

  • Opt for Self-Insurance

Instead of purchasing a fully-insured plan from an insurance carrier, you can save money by outsourcing administrative services. These self-insured plans allow employers to have more flexibility when it comes to plan design and savings. Outsourcing services such as claims processing and provider networks will let you select an insurance partner who will work with you to cut costs. Partnering with a trusted organization that shares similar values is a great way for self-insured employers to mitigate risk while navigating the options flexible plan design allows.

Partnering with an organization such as Catholic Benefits Trust will guarantee you access to certain member benefits. At CBT, we offer legal protection of employee benefit funds as well as secure management and analysis of medical data. With years of experience, expertise, and Catholic values, our benefits and services will provide your nonprofit the guidance you need to find a flexible plan that works for you. As a member of CBT, your organization will also join the CBT Board of Directors where all major decisions are made. You won’t find that kind of control anywhere else.

Contact us today to find out if the Catholic Benefits Trust is right for you!

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CBT Partner Recognized For Superior Care Solutions

catholic organization awarded for health care solutionsWe are pleased to share the news that Conifer Health Solutions has been recognized once again by a national accrediting agency for their quality and effectiveness. Conifer Health Solutions is a pioneer when it comes to customizable health care that benefits your organization’s financial health as well as patient health. Their care delivery system is one of the innovative services that sets Conifer apart. As our business partner, Conifer provides cutting-edge data analytics for each of our member’s health plans.

Conifer Health ranked No.1 for categories including Best of Breed Technology and Process Improvement, Client Relationships and Cultural Fit, and Innovation and Customization. Conifer ranks so well for accountable care and value-based reimbursement solutions because of their diverse and innovative services. For example, Conifer delivers peer-reviewed Revenue Management and Patient Experience services and solutions to the health system of their members, a service designed to alleviate cost and ensure better treatment options.  

Why Is This Important To CBT?

At CBT, our most valuable service is the coordination of patient care where we employ nurses as patient advocates to help our members navigate the complex medical system. This service sets us apart from the competition and results in better treatment outcomes with less wasted dollars. We chose Conifer as a business partner to deliver value-based care to the members of the Trust in addition to our exceptional services.

Together, Conifer Health Solutions and CBT are able to cultivate a culture of collaboration and provide superior health care options on a budget for our members. Here are some of the advantages to having this prestigious organization as a business partner:

  • Highmark shares all of the medical data from our members with Conifer to allow for efficiency and collaboration.
  • Conifer maintains all of this data for our members in an independent and secure “warehouse.”
  • Conifer frequently conducts a comprehensive analysis on the patient data.
  • Health experts hired by Conifer reach out to the employees of our members who have complex medical issues or health risks to provide one-on-one guidance.
  • With permission from patients, Conifer nurses facilitate a dialogue between all points of contact in patient care to arrive at more informed decisions for the patient.
  • CBT members have documented cost savings to be nearly 4 times higher than the costs of patient advocacy.

To learn more about the CBT and the advantages we deliver to Catholic organizations, please visit our website or contact us!

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Population Health Management

population health management challenges and advantagesMany have recognized that population health is the next step in the advancement of healthcare management. Unfortunately, developing a sustainable population health management strategy requires overcoming several challenges. Not all providers have access to the necessary technology and other resources required to establish an effective strategy.

What Is Population Health?

Population health focuses on preventing health problems before they require more financially-draining treatment solutions. It could mean instigating a wellness program or a treatment plan designed to encourage people to adopt healthier lifestyles. But simply hosting a wellness program isn’t enough. Population health management also means keeping track of patients and participants data for research and analysis. The aggregation of patient data into a single place for everyone to access and assess could lead to superior health and treatment solutions.

The Challenges of Population Health

Enabling strong communication amongst health professionals and providers is one of the biggest challenges of population health management. Physicians have been trained to diagnose and treat their patients in a single-minded fashion. Part of the new strategy requires experts to consider their patients more holistically. They would need to go beyond the traditional two-step process to collaborate with other professionals and consider other factors in their patients lives such as environment or occupation.

The effective and sustainable aggregation of patient data is another challenge to overcome when it comes to population health management. Having basic electronic health records isn’t always sufficient for high-level analytics required to develop effective health initiatives.

In order to transition to an effective population health management strategy, we have to develop a new culture in healthcare to encapsulate the needs of patients in alignment with this strategy. This involves training medical professionals and staff to adapt to a new system where the goal is to focus on the patient instead of the diagnosis. This evolving healthcare strategy wouldn’t be possible without modern technology. The infrastructure of population health management needs sophisticated platforms for aggregating and interpreting patient data.

The advantages to adopting population health management far outweigh the challenges. Population health would improve patient care while saving money and valuable resources to the benefit of patients, physicians, and providers. You can contact us to find out how the Catholic Benefits Trust is working to change our culture to encompass population health.

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Franciscan University of Steubenville to Join Catholic Benefits Trust

The Franciscan University of Steubenville

The Catholic Benefits Trust (CBT) is pleased to announce that the Franciscan University of Steubenville will be joining as an official member on January 1, 2016. The decision to join the trust was made after considering the cost benefits and Catholic values upheld by the trust.

“It will help us to effectively manage our health care costs while, at the same time, providing access to the best healthcare network in the U.S. and will also allow the University to offer benefits that are consistent with its Catholic identity,” said Brenan Pergi CPA, SPHR, Vice President of Human Resources at the Franciscan University of Steubenville.

As a member of the CBT, the University will have access to a national network of Blue Cross/Blue Shield providers and other partner vendors along with several other additional services including lower fixed costs, a health improvement program and patient advocacy via a Personal Health Nurse. Patient advocacy means the employees of the University will be served by a Personal Health Nurse assigned to help them navigate the healthcare system. Pergi said the University is also looking forward to participating in telemedicine where members can access physicians, via audio or video, for common ailments from the convenience of their home or office.

About The Franciscan University

The Franciscan University, established in 1946, integrates academic excellence and Catholic intellectualism into a faith-based community. At the Franciscan University, students receive an exceptional education through faith-based learning. The school has a broad range of programs and majors for students to choose from as well as a student to teacher ratio of 15:1. If you’d like to learn more about the University, check out the school’s website.

Our Background

The Catholic Benefits Trust (CBT) is a 501(c)(3) non-profit dedicated to serving the Catholic Church through the improvement of group medical plans.  Any organization listed in the Catholic Kenedy Directory is eligible to become a member.  Each member organization has a seat on the Board of Directors to manage the vision and goals of the CBT.  Our services include the legal protection of funds intended for employee benefits.  We give our members ownership of their medical data and perform a robust analysis of that data. This information is used to provide a personal health management plan to specific individuals and provide feedback on performance with a full range of HIPPA-compliant management reports. The Trust assigns a team of Personal Health Nurses to assist our members. Your team of Personal Health Nurses are dedicated to your organization and will assist your employees (including priests, if applicable) in developing a care management plan.

We’re excited to begin our official relationship with the Franciscan University in the new year. If you’d like to learn more about the Catholic Benefits Trust, feel free to contact us!

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