The Company That Solved Health Care: How Serigraph Dramatically Reduced Skyrocketing Costs While Providing Better Care, and How Every Company Can Do the Same
Even with new health-care policies, one thing is clear: health-care costs will continue to rise dramatically. While individuals may get better coverage, businesses will have the same problem they've had for the last four decades. Health care, one of corporate America's largest expenses, is growing at double-digit rates, and nothing done in Washington will change that.
But one medium-size company set out to tame the beast of rising health-care costs, employing best practices and cutting-edge ideas. The results have caused others to sit up and take notice. Serigraph, Inc., a Wisconsin-based manufacturer of decorative parts, and its chairman, John Torinus, did what Washington can't or won't do: reduce cost increases to less than 2 percent while improving the quality of health care for its employees. The implications for corporate America are staggering--the opportunity for genuine reform in an expense category that has been spiraling out of control.
Serigraph began its initiative to control health-care costs in 2003, when its annual health-care bill was $5 million and another $750,000 was needed for the projected 15 percent annual increase. The company employed three strategies for reform, each of which can cut the health-care bill by 20 percent to 40 percent--consumer responsibility, the primacy of primary over specialty care and centers of value. Applied in concert with other management methods, these three approaches almost eliminated growth in health-care costs while improving the quality of employee care. The results are documented. They are beyond refute.
"The Company That Solved Health Care" describes the fascinating details of Serigraph’s program, and shows how any company can achieve similar results. This book is essential reading for any manager responsible for his or her company’s health-care expenses, any academic or thinker involved in the health-care debate and anyone who wants to better understand why health-care costs have been rising and what can be done to achieve price stability while improving patient care.
Reforming Thyself: Practical ways to reduce healthcare costs
By HRhealth - January 14, 2011
Every executive or HR manager in self-insured plans with high deductibles should read this book. The book is a fast read and implementing just one of the many ideas found here will save any company thousands of dollars.
Senior executives always complain about the rising cost of healthcare, but no one does anything about it. "Success" is defined as working with your benefits administrator so that the premium increase is "only 9%" this year and being happy that at least it's not a double digit increase.
John Torinus is one executive who has not abdicated his responsibility in keeping healthcare costs down. Not accepting the standard premium increases at face value, John developed a program to provide transparency to health care costs and employee incentive programs that helped employees make consumer driven healthcare decisions. The result has been premium increases averaging <3% over the last 8 years, better quality of care and an engaged employee... read more
There really is a story about cost control for health care
By Philip Nelson - November 1, 2010
The book answers the questions the critics of consumer driven healthcare pose and I think convincingly. You should really read the whole thing and then decide. High deductible plans can work well when you don't actually have higher out of pocket expenses but do have in interest in how the money is spent. The money is recovered by finding lower cost and more effective places to have various procedures and treatments done. I have been in a plan like this for a few years now and love it. The recent health care reform laws, really health insurance reform has actually made my plan a bit worse by eliminating over the counter products unless prescribed by a doctor, essentially taking a bit more of my own health care decision making out of my hands. But it is still a good plan.
If you are open to learning about a new way to think about health care, you will enjoy this book.