Healthcare Cost Control
Why should loss control be applied to healthcare?
Although this may appear to be obvious, there are several points that should be made as additional costs will be assumed to implement loss control procedures. Loss control is normally associated with risk management for accidental loss or even business operations. Many business people seldom associate loss control with healthcare, yet the basic techniques can be applied very effectively to an individual's health. Preventing and reducing the financial impact of costs associated with losses due to illnesses and injuries cuts the resources devoted to the employees' health and welfare. Also, loss control improves productivity by reducing absenteeism and presenteeism. Clearly, this outcome increases the organization's bottom line.
What is loss control for healthcare?
Loss control for healthcare consists of techniques that first identify the illnesses and injuries (exposures) that are present in a specific group.
Once the illness and injuries have been identified, then they need to be categorized and reported according to frequency, severity and controllability.
Once the exposures that lead to healthcare services are identified and reported, then steps to intervene for loss control can be implemented.
Finally, a review of the process beginning with exposure identification should be conducted at least annually to determine if any changes in the previously identified exposures has changed or any loss control measures implemented in prior years should be reviewed to determine their continuing effectiveness.
Long-term group medical cost containment rests on a foundation of three legs:
1.) An effective and appropriate benefit structure
2.) Optimal and effective financing arrangements
3.) Loss Control
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Condition identification |
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Loss reduction |
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Examine feasible loss control techniques |
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Select appropriate techniques for organization |
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Implement selected measures |
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Monitor for effectiveness and make appropriate modifications |
Healthcare Loss control Tasks
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Retrospective claims analysis |
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Health Risk Assessments |
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Health Screenings |
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Integrated Case, Disease, and Catastrophic Case Management |
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Large claim and ongoing conditions cost negotiation |
Contact
Our offices are located in Chicago IL. However to ensure prompt service and reduce unsolicited spam email you should use the web form email method.If you would like to improve your current efforts to maintain an effective, yet cost contained employee benefits, then contact ....
Mark Singer at: (630) 416-6171