Reference-Based Pricing — A “Transparent” Way of Paying Health Care Providers

By Manoj Rajwani, USI Vice President, Employee Benefits Employers and their employees continue to struggle with skyrocketing health care costs.  The job market is already competitive, and many companies are overwhelmed with  how to manage the benefit costs but still offer a quality program at the same time.  Many of those same organizations are diligent…

NJ Passes New Balance Billing Law

On June 1, 2018, NJ Gov. Murphy passed the Out-of-Network Consumer Protection, Transparency, Cost Containment and Accountability Act. This bill applies to emergency services and other care provided by out-of-network physicians in in-network settings (i.e. hospital-based physicians). It takes effect on September 1, 2018. The new law provides reforms to several aspects of the state’s…

Stepping into Lower Drug Costs

Step therapy can save money but some say there can be a downside. One way to keep your health benefit plan’s overall costs lower is to encourage employees to choose generic drugs whenever possible. The U. S. healthcare system saved $1.68 trillion from 2005 to 2014 by using generic drugs, according to the IMS Institute…

USI’s Manoj Rajwani to Present at ISCEBS Conference in NYC May 16

With health care costs on the rise and ongoing confusion around how claim costs are determined, it’s hard to advocate for your employees and save your organization valuable dollars on the benefit spend. Reference-based reimbursements (RBR’s) are just one way of tackling the exorbitant increases demanded by hospitals and providers. Hear from USI Vice President…

Pharmacogenomics: Better Health and Cost Savings

Drugs are formulated for normal physiology. Physicians with knowledge of a person’s unique genetic makeup can better determine which drugs will be most effective. Anyone who has watched a commercial for a prescription medication expects to hear a disclaimer warning of potential health hazards. Possible side effects — depending on the medication — can range…