Brighton Health Plan Solutions’ Post

Average employer spending per participant is expected to increase 6% to $7,459 this year, but inHealth has a proven track record of helping companies control employee healthcare spend by an average of a third of the national projected increase year over year.   Reach out if you're interested in learning more about how we work with healthcare systems to achieve these results!   #Healthcare #PopulationHealth #EmployeeBenefits #HealthOutcomes #CostReduction

The TPA market is estimated to reach a massive $511.48 billion by 2030, up from $307.79 billion in 2022, according to a report from Next Move Strategy Consulting. That’s exponential growth—and I think it represents a significant transformation in how employers build their health plans, and how individuals access care. Here are five reasons why organizations are tapping third-party administrators (TPAs) to help them deliver more effective health plans to their employees: Advocacy: Healthcare solutions are complex. TPA administration can help simplify the process so employees can feel confident in their healthcare plan. Reference-based pricing (RBP): RBP—a cost-containment strategy where a TPA helps determine the amount an employer reimburse for a particular medical service—can be helpful for organizations that want to be aggressive with cost savings. Point solution innovation: There’s significant interest in digital therapeutics. But while there is a market for them, large carriers aren’t likely to integrate them into their offerings, especially for midsize employers. TPAs can help bridge that gap. Health system expansion: Many health systems themselves want to grow their direct employer strategies. The best approach is to engage with employers directly, removing the network carrier as the middleman—but to do that successfully, health systems need the support of TPA administration. Institutional investor interest: Modern TPAs aren’t the mom-and-pop shops they once were. Today, they’re heavily funded, enough that they can innovate and create unique solutions. The investment dollars that make these solutions scalable are huge, and so is their positive impact on customer experiences. If you’re interested in what’s fueling momentum in the TPA market—or you think there’s other factors in play—feel free to connect with me. I’d love to keep the conversation going. https://lnkd.in/erXMdAKj #Healthcare #ThirdPartyAdministrator

The TPA market is estimated to reach a massive $511.48 billion by 2030, up from $307.79 billion in 2022, according to a report from Next Move Strategy Consulting. That’s exponential growth—and I think it represents a significant transformation in how employers build their health plans, and how individuals access care. Here are five reasons why organizations are tapping third-party administrators (TPAs) to help them deliver more effective health plans to their employees: Advocacy: Healthcare solutions are complex. TPA administration can help simplify the process so employees can feel confident in their healthcare plan. Reference-based pricing (RBP): RBP—a cost-containment strategy where a TPA helps determine the amount an employer reimburse for a particular medical service—can be helpful for organizations that want to be aggressive with cost savings. Point solution innovation: There’s significant interest in digital therapeutics. But while there is a market for them, large carriers aren’t likely to integrate them into their offerings, especially for midsize employers. TPAs can help bridge that gap. Health system expansion: Many health systems themselves want to grow their direct employer strategies. The best approach is to engage with employers directly, removing the network carrier as the middleman—but to do that successfully, health systems need the support of TPA administration. Institutional investor interest: Modern TPAs aren’t the mom-and-pop shops they once were. Today, they’re heavily funded, enough that they can innovate and create unique solutions. The investment dollars that make these solutions scalable are huge, and so is their positive impact on customer experiences. If you’re interested in what’s fueling momentum in the TPA market—or you think there’s other factors in play—feel free to connect with me. I’d love to keep the conversation going. https://lnkd.in/erXMdAKj #Healthcare #ThirdPartyAdministrator