Against the spiraling expense of prescriptions and physician services in the US, a Plano, TX-based healthcare finance consultant releases a new report into hidden costs within the medical insurance sector for employers.
Plano, United States - November 22, 2021 /PressCable/ —
Ovation Life and Health Services’ latest launch of pharmacy consulting services expands the company’s range of educational insights and benefits programs, designed to help employers offer their staff more cost-effective coverage, thus improving morale, productivity, and retention as a result. More details can be found here https://ovationlife.com
Clients can benefit from Ovation’s hands-on approach to healthcare supply chain logistics, consulting on benefit programs, and pharmacy oversight, that helps offset the rising seemingly uncontrollable prices of prescription medications and overall healthcare in the US.
According to a report by Ovation President and CEO Dan LaBroad, employers and employees alike are paying the price for non-transparency within the medical insurance industry. Yearly increases in premiums often cancel out incremental salary raises, leaving employees no better off as a result. According to ChiefExecutive.net, average annual healthcare costs for large companies are in the region of $15,000 per employee, while Ovation clients spend between $2,500 and $7,000 per employee per year.
The newly published article advocates for greater employer responsibility, ensuring workforces across the country do not have to shoulder the burden of inadequate management at the boardroom level, which affects employee overall well-being and their wallets.
Dan LaBroad advocates for a transparent and true fiduciary approach to employee benefits, suggesting that business owners of small to mid-sized companies should jettison traditional insurance coverage in favor of alternate-funded and self-funded programs. While this seems like an unnecessary financial risk for CEOs to take, any costs above a pre-set limit can be absorbed by reinsurance coverage, proper medical management, and other safeguards not traditionally offered by the largest brokerage houses. This means that these alternative funding methods can actually reduce costs for employers while providing employees with a higher level of care and keeping their out-of-pocket costs lower.
Readers can also learn about a range of other cost-cutting strategies and partners Ovation utilizes by following Dan abroad on LinkedIn and/or subscribing to his podcast The Ovation Show, available on most podcast stations and resources.
About Ovation Life and Health Services
Since its inception in 2006, the company has helped thousands of businesses absorb the ever-increasing financial burden of employee healthcare. Ovation acts as a third-party extension of a company’s HR department, reducing costs and allowing owners to concentrate on running their business.
A spokesperson says, “Ovation is dedicated to simplifying the management process associated with providing a complete benefits program. We accomplish this by providing quality insurance programs, employee education, and benefit enrollment systems.”
With its latest report, Dan LaBroad and the Ovation team continue to empower businesses across the country to improve their healthcare offerings for staff through innovative, cost-efficient management.
For more information, please visit https://ovationlife.com
Contact Info:
Name: Daniel LaBroad
Email: Send Email
Organization: Ovation Health & Life Services, Inc.
Address: 5830 Granite Pkwy, Plano, TX 75024, United States
Website: https://ovationlife.com/
Source: PressCable
Release ID: 89054169
