Prairie States Delivers 1.86% Medical Trend In 2017
Medical Trend | June 2018 |
Prairie States is pleased to announce that their self-funded book of business experienced a 1.86% medical trend in 2017 while the industry average for PPO plans was 7.5%, according to the latest Segal Consulting Trend Survey1. Over the past three years, Prairie States clients’ self-funded health plans saved $440,000 per 1,000 lives compared to the national average. The trend analysis, conducted by an external, independent actuary, also shows that Prairie States’ clients have experienced cost inflation of a mere 2.3% over the last ten years.
According to the Segal Survey, a factor influencing these continually increasing medical trends is a lack of plan management regarding where and what type of care is provided to members. To mitigate this problem, Prairie States takes a hands-on approach to case management, guiding patients through the entire episode of care, from simple primary care appointments to comprehensive care situations.
The survey also points out that there is an opportunity for health plans to focus on improving member health in order to reduce the risk of participants developing chronic diseases, thereby reducing long-term impact on the plan sponsor. Prairie States incorporates extensive wellness and education practices into every self-funded health plan and the results of such practices are supported by their increasingly lower medical trends.
To read the full Segal Consulting Trend Survey, download it directly from Segal Consulting Group by clicking here.
About Prairie States
Prairie States delivers the programs, insights and expertise to bend the trend of rising healthcare costs. Paired with a staff of incredibly dedicated, informed and responsive people who care about the members they serve, this integrated approach allows us to identify ways to save on costs for employers, without compromising the quality of care for employees and their families. Prairie States provides cutting-edge health benefits administration with a human touch. It’s a difference you’ll notice the very first moment we start working together and one you’ll wonder how you ever did without.
1Segal Consulting Trend Survey 2017