Employers and Other Purchasers
“Somebody has to do something, and it’s just incredibly pathetic that it has to be us.”
What is this course about?
The healthcare market, like all markets, comprises different players that can be categorized as buyers and sellers. This first of four courses in the series, “Understanding the US Healthcare Market,” focuses on the major private or commercial buyers: the employers, unions, and other organizations that actually purchase the majority of health care in the commercial market. It differentiates between the employers that purchase health care and health plans (aka health insurers) that function as intermediaries between healthcare purchasers (e.g. employers) and providers (e.g. hospitals and physicians).
How services are bought and sold determines the relationship between quality and price. This is true of all markets, although the healthcare market can be particularly complex because of the many players with often misaligned incentives. Sometimes these players work together in a single structure and other times each player works relatively independently. In either case, purchasers and consumers do not always see how these players relate in the overall marketplace nor is it easy to determine either price or quality.
This course describes the goals of actual purchasers in providing health benefits as well as their collective financial experience. It also begins to introduce the learner to financing, purchasing and benefits strategies that promote higher value healthcare. The other courses in the series examine financial trends and behaviors of healthcare’s major players:
Who is it for?
Benefits administrators on the front lines of employer sponsored health insurance
HR professionals interested in improving benefit purchasing
Purchasing managers interested in improving benefit purchasing
Chief Human Resources Officers responsible for purchasing healthcare benefits
Chief Financial Officers responsible for managing the bottom line
Chief Executive Officers concerned about healthcare costs eroding the bottom line
What will I learn?
1. Define healthcare’s commercial purchasers.
2. Track changes in spending in the commercial market.
3. Delineate various buyer contracting and benefits strategies.
Can I get CE credits?
Yes. Knowledge Benefits, part of the Colorado Business Group on Health, is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CP or SHRM-SCP. Each Knowledge Benefits course is valid for 1.0 PDCs for the SHRM-CP or SHRM-SCP. For more information about certification or recertification, please visit www.shrmcertification.org.
Estimated time to complete this activity is 1 hour.
Release date: May 8, 2017
Expiration date: May 8, 2019