ParetoHealth

When we say that we’re trying to make health benefits better, we mean it. One of the ways that we show we mean it is by making sure that ParetoHealth is a great place to work. By having a comprehensive and industry leading benefits package (funded through a ParetoHealth captive, of course) we can ensure our employees and their families have all of the resources they need to thrive inside and outside of work. Having far-reaching, ambitious goals and great leadership contributes to our sense of purpose. Our innovative spirit and commitment to our core values are what make our culture stand out. We’re proud to be recognized with these Top Workplaces awards, but we’re even prouder of the practices and people that got us this recognition. If this sounds like an environment where you would thrive, take a look at our open positions. We’re growing fast, and we’d love to have you with us on the journey. https://lnkd.in/ddh2KyKS

When you’re fully-insured, your insurance is anything but. These conventional benefits are, in reality, deferring employers’ healthcare costs for a year. When their actual claims exceed the year’s projected total, employers will feel the heat at renewal time as they watch their 12-month premium climb and climb, every 365 days, like clockwork. This is the dreaded month 13, and it’ll be here before you know it. Paying for health insurance (or some diluted variation of it) is inevitable. It’s woven into the very fabric of American living, and you just have to accept it, right? Not necessarily. For most employers, health insurance is their second- or third-largest expense behind payroll. So, why would you pay another company to pay your claims for you, especially when so much is at stake and you have another option? This other option is self-funding. As its name suggests, self-funding returns the control of employee benefits to its rightful place: the employer. Self-funded plans put employers in the driver’s seat, giving them flexibility, decision-making power, and the ability to dig into and learn from their data. Implementing a self-funding solution means that employers only pay for claims as they happen – and don’t have to worry about overspending if they don’t. This leads to less stress at renewal season as you say goodbye to pre-paid, 12-month cycles and premium hikes in month 13. With multi-year coverage and stop-loss insurance to lessen risk and unforeseen catastrophic claims, why would you pay for anything else? Why would you settle for anything less? This is self-funding. This is the ParetoHealth solution. Hop in the driver’s seat today: https://lnkd.in/eKkmPChC

Consultants with self-funded clients have a lot of homework to do. You’ve already shown your clients that self-funding is the best option, but to help them save, you have to target their high-cost claimants. For that, you need a vetted portfolio of cost-containment solutions. The problem is: how will you sort through the countless available solutions to build that portfolio? If you do trial and error with existing clients, you’re putting their healthcare dollars at risk. If you go with the cheapest options, then you might not be doing your job properly. ParetoHealth has your back. Our solution is called Integrated Cost Management (ICM). ICM is a vetted suite of cost-containment partners and much, much more. Due to ParetoHealth’s size and scale, we have been able to provide access to solutions that midsized businesses are rarely able to choose if they are self-funding solo. These solutions regularly provide incredible value without the usual barriers of administrative work and cost. Learn more about our ICM program here: https://lnkd.in/eGXeaX66

Yes, your high-cost claims year can contribute to rising premiums. But it’s not always the only factor. Have you looked under the hood of your health plan? How is your program doing? Because even the structure that provides your benefits can have a bad year, increasing your premium. Wouldn’t it be great if you could see the loss triangles, the overall performance of your plan and structure, and make sure that your premiums are based primarily on your own account’s performance? Transparency is a critical factor in empowering you to be in charge of your healthcare future, and at ParetoHealth, we ensure visibility is at the forefront of your strategy. Learn more: https://bit.ly/3LVOB0L #ParetoHealth #ProudlyContrarian #FEmployeeHealthBenefits

Strategic thinking is vital in any business. Is your strategy for 2024 working? Chances are there’s still time to make the necessary changes and pivots to make sure you have a successful year. What about your healthcare strategy? Do you have insights and data, transparency on costs, and benchmarks for success? This is a good time to review and benchmark your benefits plan. Are the cost-saving measures you implemented useful? How about the utilization? You’ll only be able to ask questions like these if you’re in a self-funded plan. Especially when done right, with a partner like ParetoHealth by your side, you can be in control over your healthcare decisions every step of the way. Customizing your benefits to fit your organizational needs, exploring cost management tools, and getting ahead of the curve can set you up for a better healthcare future, and we can help you get there. To learn more about how our community can help you, contact us today: [email protected] #ParetoHealth #ProudlyContrarian #EmployeeBenefits

Healthcare trends that began gaining momentum in the 1970s still persist today. Nowhere is this more evident than in the United States. According to the KFF, the U.S. spends nearly twice the amount on healthcare per person as other high-income, developed countries such as France, Canada, and Australia ($12,555 per person versus an average of $6,651). To put this further in perspective, let’s see how this spending has changed over the last five decades. These national healthcare expenditures have been rounded up and adjusted for inflation: $435B in 1970, $755B in 1980, $1.4T in 1990, $2.2T in 2000, $3.3T in 2010, and finally, $4.6T in 2020. The numbers speak for themselves. Healthcare spending has steeply increased, a reflection of rising drug prices, higher conventional insurance premiums, and growing out-of-pocket costs. It’s a pretty grim picture, but one that doesn’t have to (and shouldn’t) persist. At ParetoHealth, we believe in challenging the status quo in our mission to transform healthcare. This means reducing the risk and volatility inherent in traditional fully-insured and self-insured plans, as well as reducing the cost of care. We’ve developed answers to these mounting issues. 1. ParetoHealth Rx Consortium (PRxC) PRxC is specifically designed to help employers manage prescription costs, including specialty drugs and more novel drugs coming down the pike (GLP-1s, for instance). We work with industry experts and transparent PBMs, and our team provides clinical oversight to ensure that employers’ pharmacy costs are under control. 2. Multi-year insurance coverage Traditional health plans have employers stuck in a tough 12-month cycle, leading them to shell out more money at renewal time. Like clockwork, they’re met with high-cost premiums – and the same low-quality benefits. ParetoHealth provides multi-year protection against large, ongoing claims (and sky-high premiums). This provides Members with much-needed stability and sustainability. 3. Cost-containment tools Our suite of cost-containment solutions is a key way we help employers respond to and control the high cost of healthcare. From expensive surgical procedures to cancer treatments, we work with a vetted group of vendors to help our Members find the right care, at the right time, and at the right price. Isn’t it time to stop these costly trends in their tracks? Contact us today to learn more: https://lnkd.in/eKkmPChC

In honor of wrapping up our first Members’ Meeting of the season, check out this explainer video to get a better idea of what these events are all about.   ParetoHealth’s Peter Doran and 🎙Spencer Smith, CSFS® answer some of the most common questions about our meetings, including logistics, what you can expect to gain from the meetings, and why you should attend yearly—not just your first year in the captive.     There’s still time to register for one of our remaining meetings! Email [email protected] for your exclusive link. And while you’re at it, don’t forget to subscribe to our YouTube channel for more ParetoHealth content.     https://lnkd.in/eu5ww2Cs    

Let’s explore some of today’s priciest medications: 1. Danyelza – priced at $1.01 million/year 2. Kimmtrak – priced at $975,000/year 3. Folotyn – priced at $842,585/year They’re all primarily utilized in the treatment of rare cancers. The reality is groundbreaking medical advancements often come with hefty price tags. As specialty drugs and therapies advance, these cost trends become entrenched. Such high-cost treatments resemble catastrophic claims more than traditional drugs taken over extended periods. When paired with traditional PBM economic solutions, managing costs becomes a different challenge. If you’re part of a conventional healthcare approach, your current model for paying for such therapies may falter. Enter ParetoHealth and our ParetoHealth Rx Consortium (PRxC). Our PBM solution includes a pillar specifically tailored to alleviate the costs of specialty drugs and treatments. We carve out specialty drugs from your PBM contract and utilize advanced analyses of clinical value, appropriate use, and other factors to reduce claims for these high-cost drugs. Last year, we rerouted $43 million through specialty Rx programming by optimizing specialty drug costs with our PBM partners. With PRxC, we not only deliver substantial cost reductions for our Members but also ensure optimal quality of care. Given that pharmacy costs likely represent a significant portion of your overall healthcare spending, solutions like PRxC are pivotal in managing overall healthcare expenditure.

This week ParetoHealth held our annual Bring your Child to Work Day, otherwise known as “Mini Mole” Day. It was an incredible opportunity for us to share our workplace with the next generation, filled with learning, laughter, and endless curiosity. Our guests got a glimpse of their parents' work lives and even participated in fun, educational activities that sparked their interest in health and wellness. A huge thank you to everyone who contributed to making Mini Mole Day a remarkable success. The joy and excitement brought by the kids brightened our office and brought a fresh perspective that reminded us of the importance of family-friendly work environments. We're already looking forward to next year's event and the chance to inspire even more mini moles! #ParetoHealth #MiniMoleDay #BringYourChildToWorkDay #FamilyFriendlyWorkplace

Having access to your data is vital. It’s one of the reasons that traditional fully-insured plans don’t work: You can’t manage what you can’t measure. It’s also important to have access to the insights that let you act on your plan’s data. Health insurance is typically the second or third largest expense for a business, right behind payroll. So, when you don’t have visibility into where your money’s really going, you don’t have the tools you need to grow, enhance, or course-correct your business. At ParetoHealth, we put these insights first – and put them to work for our consultants, Members, and their employees – at our annual Members’ Meetings and in our Integrated Cost Management (ICM) platform. Our Members’ Meetings provide unparalleled opportunities for Members to share their strategies for optimizing their health plans – strategies that have come to fruition because of the insights gleaned from their data. These in-person events encourage collaboration, which means Members head home with fresh ideas on how their data can help them make the most of their plan and their business. ICM provides actionable plans based on a deep analysis of savings opportunities. Using a proprietary clinical dashboard, our team gives you the strategy and guidance that you need to optimize your plan. It’s time to drive your plan. It’s time to drive your data. Contact us today to get started: https://lnkd.in/eKkmPChC