Employers have a fiduciary duty to provide employees with the best medical benefits at the best price, but struggle to access data from third-party administrators. The Consolidated Appropriations Act of 2021 allows for better data access. Industry expert Elizabeth Mitchell emphasizes the importance of transparency and high-value healthcare providers. Examples like Kraft Heinz/Aetna and Johnson & Johnson highlight data struggles and legal action. The Purchaser Business Group on Health is working on data initiatives and contracting standards to address these challenges. Mitchell predicts more lawsuits against employers for not meeting fiduciary responsibilities and suggests direct contracting with healthcare providers for cost savings and better care. PBGH is also collaborating with Congress for fiduciary role clarity and more transparency.
Source link
PBGH CEO: Transparency is “Table Stakes” and an “Expectation”
