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Employee data concept Today, payers and providers alike can benefit from comprehensive data, analytics, and reporting supporting both the direct care initiatives and business operations for success. (Image: Shutterstock)

Employers face a daunting challenge recruiting and retaining talent. To compete for talent, offering quality health care benefits is without a doubt essential. Yet, the cost of health care for employers continues its relentless increase: HR consultancy Mercer’s Survey of Employer-Sponsored Health Plans 2021 projects a premium increase figure at 4.7% for 2022, based on 1,502 employer responses since mid-June. Employers are juggling offering high-quality benefits to attract and retain top talent while reducing or stabilizing total costs. Value-based care is increasingly the answer to quality of care, optimization of the health of workforces, and lowering costs for payers.

The problem is simple: fee-for-service models are in conflict with delivering quality health care and the ongoing optimal management of chronic conditions. The fee-for-service model incentivizes the quantity of services rendered and disincentivizes preventive care. In contrast, value-based care incentivizes providers to leverage underlying clinical and social determinants of health data to prioritize care and intervene early. In doing so, providers are able to steer patients to the most effective treatment options or specialists, lessening, mitigating, and preventing advancing chronic or more severe conditions from taking hold.

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