The Surge Of Healthcare Costs: Navigating The Call For Innovation

Written By Reza Amin

Forbes Councils Article (Read Full Article)

Healthcare costs are increasing every year, and with predictions of a 5.4% to 8.9% rise this year alone, I believe that employee benefit leaders and enterprise executives must strategize and find innovative ways to reduce spending.

In 2023, employers' average expense for health insurance exceeded $15,000 per employee, as reported in a recent study conducted by Mercer. Smaller companies took an even larger share of the cost. In light of the competitive landscape for retaining employees, though, it's crucial to find ways to save money while also enhancing benefit offerings.

As a leader of a digital clinic that acknowledges healthcare's frequent challenges with accessibility and delayed diagnoses, I believe that a standout approach for employers to curb expenses and enhance outcomes lies in embracing cutting-edge healthcare solutions. These technologies and treatments can offer a scalable, cost-efficient and impactful method to improve population health. When done right, they can also pave the way for future savings through their preventative capabilities.

Here are my recommendations for how leaders can best take advantage of the new technologies and strategies in healthcare. Read more here.