Direct Contracting – The Future for Self Funded Employers
A new trend is emerging among the top Employers in the U.S. Companies like Walmart, Pepsi, Hewlett Packard, Lowes, ExxonMobil and more are turning to Direct Contracting to lower their healthcare costs and improve their health outcomes. Employers can negotiate prices for a variety of procedures including orthopedics, heart, cancer and organ transplants.
Direct Contracting, quite simply, is when a large employer negotiates directly with a hospital to establish a set price for procedures in exchange for being the sole provider of that procedure for the company’s employees.
This benefits both the employer and the hospital. The employer reduces their costs and creates predictability via pre-negotiated pricing, while hospitals receive a steady new stream of patients.
Employees can also see benefits from Direct Contracting. By contracting with Centers of Excellence, patients can expect faster recovery times with fewer complications. Many employers even provide a cash incentive, often a percentage of the cost saved, for employees to travel for care – airfare and hotel costs included!
Join Jonathan Edelheit, CEO of the Medical Tourism Association and one of the largest influencers in domestic and international medical travel, for a webcast taking place Thursday, June 15, at 2:00 PM EST where he will explain everything you need to know about Direct Contracting. Whether you are a hospital looking for new patient streams or a self-funded employer looking for innovative cost-saving solutions, you will gain valuable insight into the future of a growing industry.