As expected, Mike Cahill, CEO of PHP, provided a very engaging, informative presentation. As controllers and CFOs, we witness first-hand the rising cost of healthcare with employee benefits being the second largest cost most companies incur. Mike shared his insight how the transfer of information between the insurance company and the provider may help bend this cost curve.
While we normally think of all insurance policies (life, disability, auto, group health) as safety nets, Mike asked the question, “When was the last time you paid a co-pay to have your car maintained (oil change, tire rotation, and filter replacement)?” Our life, disability, and auto insurance policies are financial mechanisms that provide funds in case an event happens in return for payment of a premium. Health insurance is not really insurance. Healthcare policy and health maintenance must continue to be forged together to provide better healthcare while driving down cost.
The event presentation can be downloaded here (PDF).