Introduction: Cancer continues to be a significant health challenge, affecting millions of individuals and their families each year. Alongside the health toll, the rising costs associated with cancer treatment also impact employers. As medical technology advances and innovative therapies emerge, the price of cancer treatment skyrockets, placing a considerable financial burden on businesses. In this blog, we explore the roadblocks to care and rising costs in cancer treatment and provide actionable steps that employers can take to support their employees and mitigate these challenges.
Key Points:
- The Impact of utilization management practices on cancer treatment outcomes
- Roadblocks to care, such as pre-authorization, formulary restrictions, and step therapy protocols
- Challenges posed by specialty pharmacies and copay accumulator programs
- The negative consequences of cost-saving measures on employee wellbeing and productivity
- Collaborating with health insurance providers to design comprehensive yet cost-effective benefit plans
- Negotiating for more cost-effective treatment options and pharmacy benefit management strategies
- Exploring alternative coverage models, including high-deductible health plans and health savings accounts
- Eliminating cost-sharing for medications and supplies related to chronic illnesses
- Streamlining burdensome pre-authorization processes to improve access to timely care
- The benefits of quality health plans for employees and employers alike
Conclusion: Employers play a crucial role in supporting their employees’ access to quality cancer treatment while mitigating rising costs. By understanding and addressing the roadblocks to care, negotiating with insurers, and exploring alternative coverage models, employers can enhance productivity, control medical spending, attract top talent, and demonstrate a commitment to their employees’ well-being. Together, let’s work towards breaking down barriers to cancer treatment and creating a supportive environment for employees facing serious medical conditions.
Schedule time on our CEO Mark Herschlag’s calendar to discuss insurance, employee benefits, and more HERE!Â
