companies?
The stakes are high.
For instance, one company (Robert W. Baird & Co., see box on following page) expects to cut at least 10 percent from its annual billion-dollar health care coverage bill via best practices. At seven times cash flow, that would mean an addition to that company’s enterprise value of $700 million.
BEST BUSINESS PRACTICES IN HEALTH CARE
We can learn from what these innovative companies are doing. This book will lay out the three-year playbook to move from a broken business model to best practices for health care delivery—to a reinvented, disruptive model. It will tell stories of private companies that are leading the way in proving that costs can be curbed, even flatlined.
They are not talking reform. They’re doing it. Their CEOs are leading the charge.
ONE COMPANY’S PRAGMATIC JOURNEY
Robert W. Baird & Co., an employee-owned financial services company, has taken a long, pragmatic road to better health care results.
CEO Paul Purcell made it a strategic issue a decade ago, starting with a wellness program at its Milwaukee headquarters in 2004. The self-insured company, which has 2,700 workers, offered $100 to each worker and another $100 to each worker’s spouse for undergoing an online health risk assessment about eating and lifestyle habits. It also offered biometric screening for cholesterol, blood pressure, and glucose levels.
“We were experiencing 15 percent to 20 percent increases in health costs at the time,” explained company benefits manager Lisa Mrozinski in an interview. “We had to get that under control.”
That initial effort to turn things around was underwhelming. “We had a 45 percent participation rate,” Mrozinski said. For many workers, $100 wasn’t enough to overcome their distrust of the company’s health insurance administrator, who oversaw the program. “We could have reassured them 100 times that HIPAA (federal privacy law) assured their privacy, but there was still that lack of trust.”
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