For the last 40 years, employers have been paying for the vast majority of private healthcare in the US—acting as a passenger, not a driver. That’s changing. Employers have taken the lead and are proving that things can be done differently without massive regulatory change. From the proliferation of new care models, to the billions of dollars poured into HCIT, to an entirely new generation of healthcare companies serving employers—we’re witnessing the rise of The Employer-Driven Healthcare Economy. The impact? Greater cost control and a better healthcare experience. The solution? Technology that powers everything.
Healthcare is a massive investment that most business leaders don’t have a handle on. With costs increasing year over year—it’s eating into your profits and your employees’ pockets.
The Fortune 100’s healthcare bill—in one year.1
That's approximately $1,400 a second.
9.3% of total compensation for employees goes to healthcare costs, up from 5.6% in 2001.2,3
Medical costs have grown 5% per year for the last five years—meaning costs have gone up 27% since just 2013.4
Employers fund the majority of our private healthcare system, with the most aligned incentives in the industry—to take care of their people.
Outside of those with government-sponsored health insurance, 87% of Americans are covered through their employer. In contrast, the individual market (including the ACA) only accounts for the remaining 13%.5
With so much of the population depending on them for coverage, employers are forking over $1.2 trillion on healthcare every year—a sum equal to Spain’s GDP.6
From 2006 to 2018, the total cost of healthcare per employee has risen 75% from $8,079 to $14,156.7,8
The ballooning costs of healthcare act as a hungry tapeworm on the American economy... We share the belief that putting our collective resources behind the country’s best talent can, in time, check the rise in health costs while concurrently enhancing patient satisfaction and outcomes.Warren Buffett Chairman & CEO at Berkshire Hathaway Business Wire: Amazon, Berkshire Hathaway and JPMorgan Chase & Co. to partner on U.S. employee healthcare
JP Morgan Chase already buys $1.5 billion of medical [care], and we self-insure. Think of this, we're already the insurance company, we're already making these decisions, and we simply want to do a better job.Jamie Dimon CEO at JP Morgan Chase Business Insider: We asked Jamie Dimon why JPMorgan is forming a new healthcare company with Amazon and Berkshire Hathaway — here's what he said
As citizens, instability has been deliberately introduced into our healthcare system. But as corporations, we have the opportunity to leverage our purchasing power and set an example for how things should work. We are driving the next generation of healthcare in this country and it’s time businesses hold themselves accountable for change.Laszlo Bock CEO and Co-Founder at Humu; Former SVP of People Operations at Google
We’re experiencing a shift in healthcare today and employers are at the center of it. With companies like Collective Health, we have more data and opportunity than ever before to control this massive spend and fundamentally transform the system.Gaby Toledano CHRO at Tesla; Former Chief Talent Officer & EVP of HR at Electronic Arts
If you’re running a company in America, regardless of what industry you’re in, you’re in the healthcare business. And that means you need the right tools to be able to manage that critical line item in your corporate budget, and drive a measurable return on your investment (ROI) in the experience and health outcomes of your employees.Ali Diab CEO and Co-Founder at Collective Health American employers are in the healthcare business.
Leading employers aren’t sitting by the sidelines. They’re bringing to market new approaches and tools to get control over their investment.
A demand for innovation and mass adoption has created massive market opportunities for a new generation of healthcare companies—presenting employers with more choice and opportunity than ever before.
Creating over a thousand new, standalone companies focused on improving healthcare.13
In order to harness the power of the Employer-Driven Healthcare Economy, employers need a system to bring the pieces of their strategy together. That’s where Collective Health comes in.
Collective Health is the first Workforce Health Management System (WHMS) designed to help companies take advantage of the latest innovations in this new economy—optimizing the health of their workforce and their business.
Today, leading employers across the U.S. partner with Collective Health to drive the performance of their healthcare investment. Our technology, member advocacy, and platform approach helps companies take control of their investment, while taking care of their people. The results speak for themselves.
We have the happiest members in the health insurance industry
By keeping medical trend flat, we’ve helped our clients save millions of dollars