America does a lot of things right. In our country we have the opportunity to pursue our passions. We have the freedom to believe what we want, to say how we feel, and to help shape the future of our nation. We also have some of the best burgers on the planet.
But I think we can all agree that our healthcare system needs some work, especially as it pertains to employer sponsored coverage for employees.
First off, healthcare in the U.S. may be easy to access, but it costs a lot and is far from high quality. In fact, our healthcare system per capita is twice as expensive as the healthcare provided by other developed countries with significantly worse results.
In 2018, healthcare costs for an average family were $28,166—more than the cost of a new car. A number of issues contribute to this cost, but what it ultimately comes down to is a broken system, one that benefits insurance companies, hospital systems, big pharma, medical device manufacturers, special interest and Wall Street more than employers and their employees.
Healthcare costs are making it difficult for Americans to own homes, buy food, and purchase the basic necessities of life.
It’s for this precise reason that the Health Rosetta was created. This alternative paradigm focuses on architecting plans that offer high-quality care while at the same time reducing overhead costs for employers and their employees.
What Is The Health Rosetta?
Dave Chase, author of “The CEO’s Guide to Restoring the American Dream,” created the Health Rosetta blueprint along with several like-minded healthcare professionals as a way for employers to provide better care for their employees at a fraction of the cost.
The Health Rosetta uses practical, nonpartisan approaches to revolutionize how we pay for care, what we buy, and how we manage benefits. It’s a collection of principles based on proven best practices. It’s based on the belief that the best way to slash health care costs is to improve transparency and quality.
Unlike traditional health insurance models—where a compensation-driven broker pushes businesses to switch plans regardless of whether the decision is best for the business—the Health Rosetta matches businesses with a transparent advisor who truly cares about the health of their business and employees. Because the advisor isn’t paid on commission, their motivation aligns with the employer to improve quality and lower cost. They provide employers and employees with hassle-free access to simple and actionable guidance on any issue when they need it.
Since its creation, the Health Rosetta has helped hundreds of employers, small and large, reduce healthcare costs while at the same time providing better care for their employees. What makes the system unique is that it’s designed with you in mind. Whether you’re a CEO, an HR manager, or a hard-working employee, the model puts high quality healthcare before profits.
Why Employers And Employees Should Care About The Health Rosetta
Over the last 20 years, the buying power of the average American has actually decreased due to the combination of stagnant wages and increasing healthcare costs.
The insidious creep of healthcare costs has made it stressful for most American’s to stay afloat economically. In his book Dying for a Paycheck: How Modern Management Harms Employee Health and Company Performance―and What We Can Do About It, Stanford Professor Jeffrey Pheffer makes the argument that a lack of health insurance creates stress on people equivalent to the physical harm of second-hand smoke. With many Americans functionally uninsured due to high deductibles and an empty wallet, the current system is a true health hazard.
Employers are feeling the same squeeze on their bottom-lines. In today’s hyper-competitive business world, the ability to generate new sales to cover annually increasing healthcare costs is simply unsustainable. For these reasons and countless others, continuing to embrace the status quo health benefits programs isn’t just impractical. It’s causing significant harm to you and your employees.
What Employees And Employers Should Expect From A Health Rosetta Plan
As an employee, you get the best quality care and attention available. Under the Health Rosetta model, caregivers have the time to develop deep relationships. You’re treated as a human being. You have access to specialists when needed, and you won’t have to worry about huge out-of-pocket expenses every time you see a doctor.
As an employer, you can improve your organization’s bottom line and future-proof your business. A Health Rosetta plan can often decrease your healthcare spend by 20% or more. Reducing your spend can tangibly improve your financial performance, allowing your organization to improve wages, shore up your retirement plan, make crucial investments in R&D, sales, marketing as well as many other parts of the business.
Core Principles Of The Health Rosetta
- Fiduciary Driven, Transparent Advisor Relationship
The healthcare benefits purchasing process should be fully transparent and based on complete disclosure with the advisor’s compensation aligned with the employer’s best interest. Millions and millions of dollars are on the line. Ultimately, to achieve better results, you need to work with a certified Health Rosetta professional who is willing to challenge the status quo to help you take care of your employees like family.
- Value-Based Primary Care (VBPC)
Unfortunately, primary care has taken a backseat to more lucrative specialty care. VBPC provides you with an alternative to traditional fee-for-service (FFS) primary care and payment arrangements.
Instead of reimbursing physicians according to the volume of services provided, VBPC providers are compensated using a subscription model (a predetermined monthly fee) and have one-third the patients of typical FFS providers. The extra time VBPCs have to spend with patients allows them to get to the root cause of medical issues rather than treating symptoms.
- Professional Grade Care Coordination
Nobody should have to go it alone, but unfortunately, that is how most people interact with the healthcare system. That is also one reason results are so poor. Having a professional at your side to guide you through the healthcare maze is invaluable. With the help of a trusted guide, employees make better decisions.
- Active, Independent Plan Administration Indebted To No One But You
It can’t be stressed enough that the entity who administers your healthcare plan and pays claims on your behalf is effectively spending your money. Engaging an independent, fiduciary-minded, transparent third party administrator is crucial to achieving the best results.
- Transparent Open Networks
When the pricing of healthcare services is fully transparent, purchasers (you and your employees) can make rational value decisions based on cost and quality. Transparent, open networks solve one of the most vexing problems in healthcare: pricing failure. Operation in the dark is not a recipe for success. Demand transparency. Know the price of everything you buy.
- High-Performance Plan Design And Documents
When healthcare plans incentivize employees to make smart healthcare purchasing decisions, everyone wins. Employers need to be especially creative in this area to help employees consume only the highest quality care. For employees, it is easy to take the path of least resistance. But often, that path does not lead to the best results. A smart plan design will achieve better results for everyone.
Improve Quality And Simultaneously Reduce Costs With The Health Rosetta
Healthcare costs are bleeding our country dry. They’re likely bleeding your organization dry, too. In the last 25 years, we have seen costs rise at a higher rate than income.
So what can you do about it? Protect your organization and employees and switch to a high-performance plan that embraces all the best of the Health Rosetta.
If you would like to learn more about our healthcare system, The Health Rosetta, and how to implement this model in your business, Click the button below to download a free chapter of Dave Chase's book, "The CEO's Guide to Restoring the American Dream." Remember, this is more than about just saving money and taking better care of people. This could be change that actually saves someone’s life.