Employers in the United States have become less satisfied with their health insurers, according to a study released today by PricewaterhouseCoopers’ Health Research Institute. Hit hard by the recession, employers of all sizes are taking a critical look at their health benefits strategy and the value they derive from it. They are looking to their health plan providers for information, technology and strategies to help reduce waste in healthcare spending and better engage employees in managing their health.
New York, NY (Vocus) January 19, 2010 -- Employers in the United States have become less satisfied with their health insurers, according to a study released today by PricewaterhouseCoopers’ Health Research Institute. Hit hard by the recession, employers of all sizes are taking a critical look at their health benefits strategy and the value they derive from it. They are looking to their health plan providers for information, technology and strategies to help reducewaste in healthcare spending and better engage employees in managing their health.
In its report, What employers want from health insurers in 2010: Better information, more value, PricewaterhouseCoopers LLP analyzes its study of nearly 250 employers, ranging from large U.S.-based multi-nationals to privately held small companies. The analysis looked at how employers viewed health plans in 2009 in 12 key service areas across four main categories: financial, customer service and claims administration, use of technology and population health management and builds on research started by PricewaterhouseCoopers in 2008.
Major findings of PricewaterhouseCoopers’ research include:
What Employers Want from Health Insurers
The following are key recommendations for insurers based on PricewaterhouseCoopers’ analysis:
The importance of wellness programs continues to be the area with the greatest gap between large and small employers. Nearly 80 percent of large employers indicate that wellness programs are important to them, compared with 57 percent of small employers. However, small employers are catching up in seeing the value of these programs. Wellness programs and personal health records are the two service areas that experienced the largest increase in importance among small employers since 2008.
Performance guarantees continue to be rated the least important financial service offering among large employers, dropping almost 20 percentage points in importance and satisfaction since 2008. This could indicate that employers are not getting clear value from existing performance guarantees. According to PricewaterhouseCoopers, employers need better information on their employee population to determine how to structure performance guarantees to meet their expectations for health and financial outcomes.
A full copy of PricewaterhouseCoopers’ Health Research Institute’s What Employers Want from Health Plans is available online at www.pwc.com/us/whatemployerswant.
PricewaterhouseCoopers’ Health Research Institute provided research-based insight by evaluating the results of two surveys: Executives at 100 large US-based multinational companies (Management Barometer survey) and 130 privately held small companies (Trendsetter survey). Large companies had an average of 11,000 employees and revenues of $4 billion. Small employers had a workforce of less than 200 employees and average revenues of $24.3 million. Data were collected in the second quarter of 2009 via a via telephone survey conducted by the independent research firm BSI Global Research, Inc. In addition, PwC HRI gained insight from a PwC survey of more than 650 human resources executives (Health and Well-Being Touchstone Survey), which provided detailed benefits information and future healthcare strategies from U.S. companies in 30 industries.
About PricewaterhouseCoopers’ Health Research Institute
PricewaterhouseCoopers’ Health Research Institute (HRI) (www.pwc.com/hri) is an unparalleled resource for health industry expertise. By providing cutting-edge intelligence, perspective and analysis on issues impacting the health industry, HRI assists executive decision-makers and stakeholders worldwide in navigating their most pressing business challenges. PricewaterhouseCoopers is one of the only firms with a dedicated global healthcare research unit, capitalizing on fact-based research and collaborative exchange among our network of professionals with day-to-day experience in the health industries.
About PricewaterhouseCoopers’ Health Industries Group
PricewaterhouseCoopers’ Health Industries Group (www.pwc.com/healthindustries) is a leading advisor to public and private organizations across the health industry, including payers, providers, academic institutions, health sciences, biotech/medical devices, pharmaceutical companies, employers and new non-traditional market participants in the dynamic healthcare space. PricewaterhouseCoopers has a network of more than 4,000 professionals worldwide and 1,200 professionals in the U.S. dedicated to the health industries. PricewaterhouseCoopers’ Health Industries’ clients include 40 of the top 100 hospitals in the U.S. and 16 of the 18 best hospitals as ranked by US News & World Report; all 20 of the world’s major pharmaceutical companies; all of the top 20 commercial payers in the U.S.; municipal, state and federal government agencies and many of the world’s preeminent medical foundations and associations.
PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 163,000 people in 151 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice.
"PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP or, as the context requires, the PricewaterhouseCoopers global network or other member firms of the network, each of which is a separate and independent legal entity.
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