Centivo’s chief actuary of plan administration, Dave Osterndorf, told Bloomberg that employers can expect savings of 15 percent of the $12,000 spent per employee in yearly medical costs. That amounts to about $10 million total in 2022 for the 5,000 employees enrolled in the plans.
The Wisconsin companies looking to push employees toward those physicians include Robert W. Baird & Co., Northwestern Mutual, American Roller Co., and the Guardian Life Insurance Co.
High-performing physicians are those who provide high-quality care at a low cost. Centivo is contracted with about 1,600 physicians and 60 hospitals for the program.
High-performing physicians within the plan were selected using data from the Wisconsin Health Information Organization. The WHIO collects data on health insurance claims from private insurers, self-funded employers and Medicaid.
In 24 other states, health insurance claim databases function similarly and could be used to develop additional high-performance plans for employers, according to Mr. Osterndorf.
At the Becker's 5th Annual Fall Payer Issues Roundtable, taking place November 2–3 in Chicago, payer executives and healthcare leaders will come together to discuss value-based care, regulatory changes, cost management strategies and innovations shaping the future of payer-provider collaboration. Apply for complimentary registration now.
