5 Ways Benefits Buyers Win with Health Value Professional Training
April 2019 marks the launch of Validation Institute’s Certified Health Value Professional (CHVP) training program. As we’ve been rolling out CHVP as a concept across the country at various HR summits and even during our own webinar, it’s become crystal clear that there is a gap in expected health outcomes and healthcare spend, and health value professional training is a necessary solution to navigating a complex healthcare market.
The feedback about the training program design has been overwhelming positive, particularly when it comes to addressing these five major concerns of HR/benefits personnel:
1. Advance your career with specialized training
As healthcare premiums continue to rise, employers are looking for data-driven, cost-effective solutions to address an ever-increasing healthcare spend. CHVP designation means that you have actionable knowledge to help your company overcome a complicated healthcare benefits purchasing process. Being able to hone in on that decision-making data and streamline the purchasing process by identifying quality solution providers yourself can set you apart from others in your field. Health value training showcases you as a solution-driven employee with their pulse of benefits purchasing.
2. Speak the language of your healthcare providers and benefits advisors to reduce costs
Health value professional training is designed to help you determine value and ROI, validate claims, and better manage your health benefits vendors. But it can also help empower CHVP candidates for more effective communication with benefits advisors. Having a common vocabulary and knowing the right questions to ask, as well as the right time to push back and what alternatives are available, puts you on a level playing field for some of your company’s most expensive commitments and most important negotiations. Take Marilyn Bartlett and her work on behalf of the State of Montana, for example. She put her foot down with hospitals and insurance companies and fought for better pricing and care to save millions of dollars.
3. Deliver more effective healthcare programs to employees
With its endless supply of apps and devices aimed at encouraging healthier daily living, “wellness” is incredibly popular with employees, and from the employer’s perspective, it makes a great value-add to expensive health plans. In many cases, employers are hoping these initiatives drive down overall health plan costs, but that hypothesis is rarely tested, particularly in the microcosm of individual organizations, even as the definition of “wellness” gets broader and harder to define. Proper health value training should give its graduates the ability to look closer at these kinds of programs—as well as many others— to figure out what’s working, what’s not, and which providers might be able to fill in the gaps for your unique employees’ specific healthcare needs.
4. Change the industry from the inside
Decades of increased premiums and sup-par returns have shown that healthcare vendors and providers are almost solely motivated by revenue. Health value training, like our 14-module CHVP program, empowers organizations and their benefits purchasers to demand more from their vendors. The driver is saving money, but cost-savings isn’t the only result realized when focusing on health value. By self-reviewing performance and the services your employees need and use most, organizations can spend more wisely and ensure they’re getting top-notch service and care from those dollars.
5. Retain and attract top talent through healthcare benefits
A high-impact health plan with demonstrable, credible providers and add-ons can become the difference between retaining or losing talented employees, especially experience employees and those with families. A Glassdoor survey showed that 60% of job seekers consider benefits and other perks when accepting job offer, with healthcare topping the list of decision-influencing perks. Since that survey three years ago, healthcare premiums have risen by additional thousands of dollars a year.
Validation Institute’s Certified Health Value Professional (CHVP) training tackles both sides of the healthcare purchasing issue: cost management and delivering high-impact healthcare to employees. Digging in to which services your employees use the most and at what frequency, as well as understanding the alternatives to traditional health plan design, will give you the information you need to negotiate better rates and discover more reputable solution providers, while configuring a plan that addresses your employees’ needs in more meaningful, positive ways.
To learn more about our CHVP program, watch our program overview video or call (570) 980-6225.