Health Transformation Alliance Saved Member Companies $1 Billion in Healthcare Costs
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WESTMONT, N.J., Jan. 29, 2021 /PRNewswire/ -- The Health Transformation Alliance (HTA), a cooperative of leading employers across the nation united in the common cause to improve healthcare quality and affordability for employees and their families, today reported that it reached a major milestone in 2020. In the four years since the HTA was formed, the cooperative has saved its member companies $1 billion in healthcare costs.
The HTA launched in 2016 when 20 leading U.S. self-insured employers joined together to use their collective data and buying power to provide higher quality health benefits for their employees and their families at the same or lower cost. Among the first 20 companies that bought into the HTA nonprofit cooperative were Verizon Communications, Inc., Weyerhaeuser, Wayne Farms, and Lincoln Financial Group. Today, the HTA has 58 member-owners.
In addition to generating healthcare cost savings, the HTA also achieved other milestones in 2020. In the calendar year, lives covered by the HTA's pharmacy programs increased from 2.1 million to 2.4 million; lives covered in its medical programs increased from 20,000 to 560,000; and the number of individuals whose claims data is now included in its data analytics platform grew from 2.6 million to 2.9 million."Growing participation in our programs is important because the HTA uses aggregated data and advanced analytics to deliver insights far beyond what a single company can produce," said Rob Andrews, CEO of the HTA. "In addition, the more lives we cover, the more our buying power with healthcare providers and insurers increases. That means we can negotiate and enforce contracts that meet our member companies' healthcare goals and advance their shared interest: better outcomes for employees and their families at the same or lower cost."Said David Malfitano, Chief Human Resource Officer at Wayne Farms, "As a member company of the HTA, one of its most important contributions is unbiased insights supported by high-quality data about where our employees can find care for the best outcomes at a more affordable cost. HTA allows for a fundamental shift from 'fee for service' healthcare to an investment in the actual improvement in health, plus a tremendous reduction of the cost of prescription drugs. The bottom line is the improvement of the health and well-being of our most important asset, our people."
"Member companies of the HTA come together to provide our employees and their families with high-quality healthcare information and solutions that meet their needs despite having to work within a broken healthcare system," said George Murphy, Senior Vice President of Total Rewards, HR Technology and Operations at Lincoln Financial Group. "Armed with independent insights and data, we have the ability to tie our healthcare benefits programs to excellence and value."
About Health Transformation AllianceThe Health Transformation Alliance (HTA) is a cooperative of 58 of America's leading employers that have come together to ﬁx our broken healthcare system. With responsibility for more 4 million lives in the United States and a collective annual health care spend of $27 billion, the member companies of the HTA have combined their resources, knowledge, and experience to transform the way healthcare is delivered. To that end, the HTA has developed value-driven solutions in data and analytics, pharmacy, medical and consumer engagement speciﬁcally designed to improve patient care and economic value.
SOURCE Health Transformation Alliance
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