Stop us if you’ve heard this one, but healthcare costs in the United States continue to rise every year. In 1960, healthcare spending in the U.S. was $27.2 billion, reported the Centers for Disease Control and Prevention (CDC). Since that time, healthcare expenses have significantly increased – all the way up to $3.6 trillion in 2018, stated the CDC.
The biggest factor behind these increased expenses is medical care – which accounts for 90% of healthcare costs in the U.S., according to BlueCross BlueShield (BCBS). This puts a major strain on budgets of both the businesses and families responsible for shouldering the costs.
But rising healthcare costs don’t need to feel as inevitable as death and taxes. With Accolade on their side, businesses can tame the trendline, not only beating spending trends but even accomplishing the unthinkable – keeping healthcare costs flat from one years to the next.
Accolade’s results for healthcare costs in the US
A study by the independent analysts at Aon compared a matched control group to Accolade customers the year prior to employing their services and the first – and in some cases, second years – after partnering with Accolade. The matched control group was made up of members matched on a number of factors, including age, clinical conditions, comorbidities and geography.
The Aon study showed that in 2019, healthcare costs for the matched control group rose 8.3%. For Accolade customers, those costs instead stayed flat.
Accolade’s integrated care approach
“This flat trend line is a testament to the hard work our Frontline Care team puts into each member’s experience and shows the innovative approach Accolade has on healthcare,” explained Carolyn Young, Chief Actuary at Accolade. “Our Health Assistants, registered nurses and healthcare providers are at the epicenter of care for each member. They have the ability to see the full picture of each individual’s benefits and medical needs.”
As healthcare costs in the U.S. continue to increase, businesses can take a new look at integrated care with Accolade. Their personalized approach to health and benefits solutions improves the experience, outcomes and cost of healthcare for all employees - regardless of age , mental health or prescription medicine needs.
According to the same independent Aon study, Accolade lowered healthcare costs the most for members in their prime working years. Spending around members between 30 and 59 years old fell by as much as 13% as compared to a matched control group. Additionally, Accolade customers cut costs for members with anxiety by more than $200 per member per year, in 2019. Compare that to the matched control group without Accolade, those costs rose more than $500 per member per year. The Frontline Care Team at Accolade can also help members understand how they can move from name brand or specialty drugs to generic equivalents, saving money for members and payers alike.
“Accolade’s innovative approach to care allows us to keep healthcare costs flat as compared to other employers that experience typical increases in healthcare expenses,” stated Young.
Accolade member benefits
Accolade team is equipped with benefit experts and registered nurses who listen and have answers. They provide a bridge between your employees and their experts to ensure you have happier, healthier employees. Accolade can help your team find the right solution to benefit your company and employees.
To learn more about the results Accolade demonstrated in Aon’s analysis – and how we can help your team achieve similar results – download the full report by filling out the form below!