Total Performance Assessment - Collective Health

Employee healthcare is approaching a crisis point. Can your strategy survive?

Complete this 3 minute survey to see how your strategy compares to other leading businesses.

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As companies grapple with the rising cost of employee healthcare, executive teams are showing skepticism around how efficiently their investment is being managed.

According to a recent study by Harvard Business Review, only 17% of executives believe their healthcare investment is being managed efficiently, while 83% believe that they can cut waste in their spend given the right conditions.

But there’s also promise—a recent Mercer study shows that benefits teams using cutting-edge practices and innovations are paying 4.6% less per employee on healthcare.

So what are leading businesses doing differently?

Complete this 3 minute survey to see how your company stacks up.

I am a ________. HR leader Benefits leader Finance leader CHRO CFO CEO Other

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My company has _______ employees. Under 500 500 – 1,000 1,001 – 5,000 5,001 – 10,000 10,001 – 25,000 25,001 – 50,000 50,000+

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Our employee healthcare program is currently _______. Self-funded Level-funded Fully-funded We’re on a private exchange I don’t know

Did you know

63% of American employees are on a self-funded plan

Source: Kaiser Family Foundation

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Do you know how much your company spends on healthcare annually? Yes No

Did you know

The total cost of healthcare is projected to rise to an average of $14,156 per employee in 2018

Source: National Business Group on Health

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Could you confidently explain to your CFO and CEO what’s driving your healthcare costs? Yes No I don’t know

Did you know

The price of providing medical and pharmacy benefits is expected to rise by 5% for the fifth consecutive year in 2018

Source: National Business Group on Health

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Do you face pressure from your CFO to better contain your healthcare costs? Yes No I don’t know

Did you know

A study of large companies found that those using more leading-edge practices, such as defining centers of excellence for particular procedures and offering web- or app-based wellbeing programs, and covering telemedicine, paid 4.6% less per employee on healthcare in 2015 than companies that used fewer.

Source: Mercer

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How aligned are your Benefits and Finance teams on how to control costs? Very aligned We talk often but have different opinions These two teams are not aligned I don’t know

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Could your C-Suite explain how your healthcare strategy is tied to your workforce strategy? Yes No I don’t know

Did you know

Only 50% of business leaders believe that their benefits leader plays an important strategic role at their company

Source: Harvard Business Review

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With better tools and technology, I see an opportunity to more effectively and efficiently administer our company’s health benefits. Agree Disagree I don’t know

Did you know

Only 17% of business leaders believe their healthcare investment is being managed efficiently

Source: Harvard Business Review

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Do day-to-day tactical items keep your benefits team from being able to focus on their more strategic work? Yes No I don’t know

Did you know

Companies have reported a 60% reduction in benefits-related questions from their employees after partnering with Collective Health

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Does your benefits organization have the tools and technology they need to efficiently manage your healthcare investment? Yes Yes, but not the same caliber as our Sales or Finance counterparts No I don’t know

Did you know

51% of business leaders say their benefits team doesn’t have access to the same kind of tools or resources as their Sales or Finance teams

Source: Harvard Business Review

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Do you think your C-Suite believes that your healthcare strategy is as data-driven as your compensation strategy? Yes No I don’t know

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Do you have the data insights you need to confidently defend your healthcare strategy against an internal skeptic? Yes I have a lot of data, but not many compelling insights No I don’t know

Did you know

83% of business leaders believe they can cut waste in benefits spending given the right conditions

Source: Harvard Business Review

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I could do my job more efficiently if I had better access to real-time data. Agree Disagree I don’t know

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How would your employees rate the customer service of their current health insurance carrier?

Very poor Excellent

Did you know

The Net Promoter Score for the healthcare industry is 8; Collective Health’s is 76

Source: Temkin Group Insights & Collective Health

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Do your employees understand how their health benefits work? No, benefits literacy is a challenge Somewhat Yes, our people totally get it I don’t know

Did you know

In a recent study, only 14% of respondents could correctly answer four multiple choice questions about the four components of health insurance design: deductibles, co-pays, co-insurance, and maximum out-of-pocket costs

Source: Journal of Health Economics

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Is your health insurance experience a good representation of your employer brand? Yes, it 100% lives up to our employer brand It mostly lives up to our employer brand It somewhat lives up to our employer brand It doesn’t live up to our employer brand I’ve never thought about it that way

Did you know

75% of U.S. adults say healthcare benefits strongly factor into their decision of where to work

Source: Collective Health Harris Poll Survey

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I could more efficiently craft our company’s health benefits strategy if I better understood our employees’ healthcare needs. Agree Disagree I don’t know

Did you know

Nearly 90% of employees enrolled in employer benefit plans agreed that getting health benefits through work is as important as getting a salary

Source: Mercer

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Do you believe there is a clear connection between employee health and productivity? Yes Somewhat No I don’t know

Did you know

Poor employee health is estimated to cost $576 billion a year

Source: Integrated Benefits Institute

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Do you have the tools you need to improve health and productivity in the workplace? Yes Somewhat No This isn’t a focus for me

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Do you believe that there is value in innovative health programs like near-site clinics, condition-specific services, and wellness apps? Yes Probably, but we don’t invest in them No I don’t know

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Do your employees use the innovative healthcare programs your company has invested in? Yes, we have high engagement Somewhat, but there’s room for improvement No, engagement is low I don’t know We don’t invest in innovative healthcare programs

Did you know

Activision Blizzard increased engagement in Grand Rounds by 4X after partnering with Collective Health

Source: Collective Health CareX Reporting

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I could justify the value of our investment in health programs to my CFO. Agree Disagree I don’t know We don’t invest in health programs

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Optimizing your healthcare strategy

Employee healthcare is approaching a crisis point. Can your strategy survive?

As companies grapple with the rising cost of employee healthcare, executive teams are showing skepticism around how efficiently their investment is being managed.

See how your results stack up.