“Independence Changes Everything!”
I recently saw this statement in big bold letters on the last page of a report issued by one of our competitors. I agree, independence can be a real game-changer. But what is “independence” in this context? (more…)
Grateful for a Dream Come True!
With 20 years now under our belt, I can’t help but feel so grateful for where we are as a firm, where we’ve been, and where we’re going. (more…)
Effective Transparency Tools Come at a Price
It’s not uncommon for the average healthcare consumer to be in the dark when it comes to the value of services received. We’re typically oblivious to the cost and quality of each service until the bill arrives or something goes wrong ― like when a revision to a hip replacement is necessary. And such blind faith can be a significant driver of rising healthcare costs.
Recent legislation is putting more emphasis on price transparency in hopes it will lead to increased consumerism and, in turn, more value. Many employers have followed similar logic and purchased consumer tools from their insurance provider or a third-party service. (more…)
Deep Dive Redux: Benchmarks and Beyoncé
June arrived with a splash at Chelko, as we explored findings from our sixth annual Deep Dive employer survey. While we were limited to a virtual presentation for the second straight year ― a departure from our traditional all-day gathering in Columbus ― we were still able to provide a robust discussion around what is driving medical and drug spend for the 50 participating employers in markets across Ohio and beyond. (more…)
Nothing to Hide Here
You can see right through us. And we’re totally fine with that.
For plan years beginning on December 27, 2021, or later, brokers and consultants will be held to new compensation transparency obligations under the Consolidated Appropriations Act (CAA). The CAA creates new requirements for brokers and consultants (referred to in the rules as “covered service providers” or “CSPs”) to disclose to ERISA-covered group health plan sponsors any direct or indirect compensation they may receive for referral of services. (more…)
We Look at Things Differently. So Should You.
Chelko uses our unique clinical and sourcing expertise to dramatically reduce drug benefit costs for plan sponsors and improve member care. While others mistakenly chase discounts and rebates, we focus on removing waste and excessive profiteering from plans and helping members more affordably get the medications they need.
The fact is, too many people are using old strategies to take on new challenges. While brand and generic medications make up almost 99% of total prescriptions and have long been the primary focus of most cost reduction efforts, it’s more than time to shift our attention to the other 1%. (more…)