Traditional health care products have limited impact on consumerism. Either they have fixed copays which do not promote the most efficient use of care or they have high deductibles without known and budgetable member cost. New products are emerging that aim to provide fixed and known member cost share while varying the amounts members pay to steer to the most efficient care settings. Do they actually work? In this session, you will explore two actuarial studies performed on an emerging product to understand how member behavior and total cost of care has been influenced. Limitations of the study (i.e. COVID effect) will also be discussed with audience feedback for evolving consumerism and validating the impact.
Attend this session and you’ll:
• Understand how emerging, consumer-centric health care products influence member behavior and total cost of care.
Track: Spearheading Innovation Through Change