It's no secret that health care costs are rapidly rising, putting pressure on employers to seek relief for both their business and employees. According to the Peterson-KFF Health System Tracker, total national health expenditures in the United States grew by $111 billion in 2021 compared to 2020. Additionally, the last decade saw a 114% rise in premiums, further compounding the financial strain on employees and employers. 

Health plans with reference-based pricing (RBP) are an effective cost containment strategy that is gaining momentum, with options becoming more sophisticated. Here are three next-evolution solutions to keep an eye on.

Using predictive analytics to improve member satisfaction

For years now, implementing machine learning solutions to analyze member data has enabled more personalized, high-quality care and treatments. And recently, we've seen a huge opportunity for RBP to harness the power of predictive analytics to reduce member disruption.