As most businesses and consumers alike are acutely aware, healthcare costs in the U.S. continue to increase each year. Under the traditional healthcare model, there is no end in sight when these rises will stop. In fact, health spending has increased over 31 times in the last four decades on a per capita basis, according to the Peterson Center on Healthcare and Kaiser Family Foundation. Health spending in the U.S. went from $353 per person in 1970 to $11,582 per person in 2019, reported the center and foundation.
However, there is a way to bend the healthcare cost curve . Accolade takes an innovative approach to healthcare to reduce unnecessary spending while improving the quality of care each member receives.
Accolade’s results for healthcare costs in the US
A study by the independent analysts at Aon compared a matched control group to Accolade customers, examining spending the year prior to working with Accolade against the first – and in some cases, second years – after partnering with Accolade. The matched control group was made up of members matched on a number of factors, including age, clinical conditions, comorbidities and geography.
Aon’s study found that prior to implementing Accolade, our customers spent about 5% more per member, per year on healthcare than the matched control group. After implementing Accolade’s services, though, they were able to reverse that trend of overspending. With the help of our personalized approach to healthcare, Accolade customers instead spent an average of 3% less than the same control group.
Accolade’s strategies to reduce healthcare costs
“Our Frontline Care team has the knowledge and tools to connect members to the right care when they need it most,” stated Carolyn Young, Chief Actuary at Accolade . “Our Health Assistants, registered nurses and healthcare providers are able to find ways to reduce healthcare spend without impacting the level of care. They have the ability to see the full picture of each individuals’ benefits and medical needs allowing them to provide the right care at the right time.”
This integrated and personalized approach to health and benefits solutions improves the experience, outcomes and cost of healthcare for employees and their dependents — regardless of their age , mental health or prescription medicine needs. Members are put at the center of care ensuring their needs are prioritized and met.
Accolade member benefits
The Accolade team is equipped with benefit experts and registered nurses who listen and have answers. They provide a bridge between your team members and our experts to ensure your people are happier, healthier and getting the healthcare they need. Accolade can help your team find the right solution to benefit your company and employees.
To learn more about the results Accolade demonstrated in Aon’s analysis – and how we can help your team achieve similar results – download the full report by filling out the form below!