Ep #138: Reference-Based Pricing Offers Relief From Runaway Facility Costs - With Steve Kelley

Steve Kelly is the President and Co-Founder of ELAP Services. He’s the foremost expert in a field that a lot of people are talking about – reference-based pricing.  As our guest on this episode of ShiftShapers, Steve will help us understand the ins and outs of reference-based pricing, why it’s important, and where it will take our industry in the future.There is a resurgence of interest in self-insured plans as companies look for ways to keep healthcare costs down for employees. Advisors can help guide their clients through the type of support and advocacy position necessary to complete a transition with the practical tips discussed on this episode.Advisors will want to closely examine a metric-based pricing model as they’ve been shown to provide significant, year-over-year savings. Stop-loss carriers are showing significant credits on their premiums at this point. The savings will undoubtedly help employers control the facility costs – the largest component of medical expenses. You’ll learn just how to take action on today’s episode.What You’ll Learn From this Episode:An explanation of metric-based pricing.Where metric-based pricing applies.What we can learn from the CalPERS example.The unfortunate employer dilemma.The source of most high dollar claims.Whether there is applicability to pharma spend.