The Benefits of Joining the Health Transformation Alliance: How it Can Help Your Business
Have you ever given thought to how your business can benefit from joining the Health Transformation Alliance (HTA)? When it comes to managing employee healthcare benefits, there are a lot of moving parts to consider, and the costs associated with providing these benefits can be staggering. Fortunately, there is a solution to help ease this burden – and that’s by joining the HTA.
What is the Health Transformation Alliance (HTA)?
The HTA is a non-profit organization formed in 2016 by a group of large employers including IBM, Verizon, and American Express. Its primary goal is to bring together employers and other stakeholders to drive innovation and improve healthcare quality while reducing costs.
How Can Joining the HTA Help Your Business?
Joining the HTA can provide a wealth of benefits for your business. Here are some of the key advantages:
Cost Savings:
Access to a wider network of healthcare providers, as well as increased negotiating power, can lead to significant cost savings. An analysis by Willis Towers Watson found that HTA members saved an average of $480 per year, per employee.
Improved Quality of Care:
HTA members have access to a wealth of healthcare data, which enables them to make more informed decisions about their employees’ care. The HTA also works closely with providers to improve healthcare quality and reduce unnecessary procedures.
Increased Transparency:
The HTA is focused on increasing transparency across the healthcare industry. By sharing information and best practices, members can learn from one another and work together towards common goals.
Better Employee Engagement:
Employees are often frustrated by the complexity and cost of their healthcare benefits. By joining the HTA, you can offer your employees a more streamlined and cost-effective healthcare plan, which can improve their overall satisfaction and engagement.
Real-World Example: How the HTA Helped a Member Company Save Money on Healthcare Costs
One example of how the HTA has helped its members is with Cisco Systems. In 2018, Cisco joined the HTA and immediately began reaping the benefits. By leveraging the HTA’s network of providers and its negotiating power, Cisco was able to save over $11 million in healthcare costs in just one year.
Conclusion
Joining the HTA can provide your business with a wide range of benefits, including cost savings, improved quality of care, increased transparency, and better employee engagement. By working together, HTA members can drive innovation and improve healthcare outcomes for everyone. If you’re interested in learning more about the HTA and how it can help your business, visit their website today.
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