Three effective cost containment strategies for TPAs to give clients

December 16, 2021
Josie Livengood

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As your clients prepare budgets for 2022, you have an opportunity to show them the value of your work by helping them to achieve their financial goals. We all know that healthcare costs are a big concern for, well, everyone. But especially your clients who may be self-insured employers. If you want to find highly effective yet simple cost containment strategies to give to clients, look no further than this blog!

Third-party bill negotiation services.

Even if you have great insurance, medical bills can quickly become complicated and stressful. Although patients can try to navigate and negotiate bills themselves, it can be a long and confusing process. Your clients don’t want to deal with huge medical bills, and neither do their employees . The obvious solution is to contract with a third-party navigation and bill negotiation service. This of course has a cost associated with it upfront, but it can end up saving your clients and their members millions of dollars. For example, our bill negotiation team reduces medical bills by 44% on average. Bill negotiation is also a unique service that not many companies offer as a benefit, so it’s sure to make your clients stand out from competitors. Bottom line, if your client wants to control healthcare costs and improve employee satisfaction, this strategy is the way to go.

Digital self-service capabilities.‍

Online shopping, food delivery, social media. They’ve all created a culture that expects convenience through digital self-service capabilities. Beyond meeting consumer expectations though, digital self-service capabilities can greatly reduce your clients’ costs. One study found that costs can be reduced by as much as 75% with the help of digital self-service tools. An affordable and easy way to introduce digital self-service features to your clients is through a  healthcare shopping app that supports members as they navigate healthcare. The Point Health app offers upfront prices for hundreds of services and allows users to search and compare:

  • Doctors.
  • Hospitals.
  • Imaging centers.
  • Labs.
  • Medications.
  • And more.

Choosing the most affordable healthcare option ensures lower healthcare costs for your clients and their employees. It also adds personalized, digital capabilities to your clients’ offerings. This is great because, according to one study, health plans with digital capabilities outperform competitors in overall satisfaction and retention by 5%

Direct primary care.

Direct primary care (DPC) is an alternative primary care model  meant to create a higher standard of care. It is designed as a subscription-based model to ensure strong primary care relationships are built. For example, a patient can pay a flat fee of $60-100 per month to see their physician as often as they want and for whatever they want. Think of it like Netflix for healthcare. Many employers will bundle DPC arrangements with their healthcare coverage to ensure their employees stay healthy. It’s a cost-effective approach to give patients more personalized healthcare that’s easier to access. This in turn motivates patients to stay on top of their health, which helps avoid major health issues down the road. And that means lower overall healthcare costs for your clients.

Final thoughts.

Your clients look to you to help them contain their costs associated with healthcare. It’s not an easy feat, but you know it can be done. With your expertise and the strategies mentioned in this blog, you’ll be exceeding clients’ expectations in no time.

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Download Your Guide to 2022's Healthcare Policy Changes

Discover the major changes happening that affect you, how to prepare, and even how to make the new rules work in your favor.

Download How to Leverage Ambulatory Surgical Centers for Lower Costs and Higher Satisfaction

Discover how TPAs, health cost sharing groups, and limited benefit medical plans can benefit from the use of ASCs.

Download the Patient Advocacy 2.0 White Paper

Discover what health plan members had to say about the value of patient advocacy in our survey.

Download the Complete Guide to Retaining Health Plan Members.

Learn the best strategies and tips for retaining your members while keeping costs low.

Download the Complete Guide to Growing Your Health Plan Membership

Learn the best strategies and tips for growing your members while keeping costs low.

Download the Complete Guide to Lowering Member Costs

Discover what health plan members had to say about the value of patient advocacy in our survey.

Download Healthcare Consumerism 101: A Playbook for Health Plans

Learn the best strategies and tips for retaining your members while keeping costs low.

Download Your Guide to the Transparency in Coverage Rule

Discover how the the new rule will affect TPAs and health plans and how you can start your journey to compliance.

Download Your Guide to Unique Benefit Offerings that Don't Break the Bank

Discover how to add value to your health offerings that delight clients and members but don’t cost a fortune.

Download the Complete Sedera Case Study

Discover what health plan members had to say about the value of patient advocacy in our survey.

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