What's Next in Healthcare for American Business? How CFOs Can Prepare their Organization for the Future

Contributed by Marcus Evans, 26 November, 2014

Employers, insurers and physicians can do much more to educate and empower employees to make healthier lifestyle choices, according to Robert Kolodgy, Senior Vice President and Chief Financial Officer, Blue Cross Blue Shield Association. As employees share more of the costs of their care, educational tools and reliable data should be made available to help them take on greater accountability for their healthcare choices, he believes.

A speaker at the marcus evans CFO Summit XXIX Fall 2014, in Las Vegas, Nevada, November 13-15, Kolodgy addresses some of the healthcare issues that Chief Financial Officers (CFOs) are dealing with today.

With the first phase of the Affordable Care Act implemented, what are the next steps employers need to address when it comes to healthcare?

Healthcare reform has helped to provide greater access to care, but we still need to reform a system that costs Americans - employers and consumers alike - USD 2.8 trillion a year.  

Thankfully, employers can increasingly partake in - and help further promote - innovations that aim to change that equation, including new models that place the patient at the center of care and reward doctors and hospitals not for the volume of care they provide, but rather for the quality and outcomes they deliver.

Moreover, as employees share more of the costs of their care, these patient-centered, value-based models resonate with workers who are being asked to take on greater accountability for their health and healthcare.

What approaches do you recommend to empower consumers/employees?

As employees are asked to bear greater responsibility for their healthcare decision-making, employers can leverage trusted cost and quality information, combined with tools and programs, to educate and empower their workers to make healthier lifestyle choices and more informed decisions about their care.

In doing so, they can transform their relationship with employees from that of sponsor and beneficiary to true partner in creating and maintaining a culture of health in the workplace - and a healthy and productive workforce.

If you were to give one message to CFOs, what would that be?

Accountability on the part of all parties is key to driving success. Today's economic reality and consumer expectations spell greater accountability for employees to take better care of themselves and their dependents, and to make more informed, value-driven decisions about their healthcare.

In turn, as employees take on greater ownership of their healthcare, employers, insurers and physicians need to deliver on their part of the bargain, with incentive rewards, educational tools and programs that effectively engage and empower workers to make the right choices. And finally, with a plethora of third-party vendors attempting to fill the fast-increasing demand for decision-support solutions that work, employers need to do their due diligence and hold their vendor-partners accountable for the promises they make.

Interview by Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division

For more information regarding the CFO Summit, please contact Laurel Zevitz at l.zevitz@marcusevansch.com

Tags: Healthcare | Healthcare | employees | education |



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