Bind Benefits, Inc. upended the traditional model of high-deductible, high-confusion health care and gives people something they have never experienced with health insurance – cost certainty and coverage flexibility. Bind released data that shows its health plan outperformed risk-adjusted industry benchmarks. The total cost (combined employer and employee) of Bind was 23% lower than the average benchmark and 11% lower than the highly managed benchmark on a risk-adjusted basis. The results show that high member engagement and better health plan design can lower costs for employers and employees.
More about the impact:
- People choose less expensive sites of care: Emergency room utilization is 33% lower than benchmark. Inpatient surgeries are nearly 44% lower and cost 23% less. And hospital outpatient surgeries are nearly 20% lower and cost 22% less.
- Maternity costs are lower: Cost per labor and delivery on the Bind plan is 28% lower.
- Higher use of surgical alternatives: Physical therapy, occupational therapy, and speech therapy use, among the Bind member population, is 81% higher than benchmarks and costs 26% less per visit.
Hear more about the results from Bind CEO, Tony Miller, Chief Actuary, Trevor Fast and CIO, Tamra Lair and learn about a sustainable, attractive health benefit that doesn’t compromise coverage or quality. Register here to access the Bind webinar.
When:
Thursday, August 27, 2020, 1:00 PM CDT or
Tuesday, September 01, 2020, 1:00 PM CDT.
