As a result, CFOs today are playing a bigger role in healthcare benefit decisions. The breadth of information they consider in making health plan design and purchasing decisions has expanded well beyond monthly premiums and cost sharing.
CFOs are poring over claims data, employee sick leave, health risk assessments, and productivity impacts to assess various healthcare benefit decisions, Parry says. And there's more information they'd like to have, such as ROI from health interventions. Only 15% of CFOs say that ROI data is available to them. They are also interested in benchmark data from other companies.
Hunzeker says health plans need to provide some of this information, adding that plenty of population health data could be presented in meaningful ways without violating HIPAA policies. He points to WeightWatchers participation as an example. "There's data out there about how this program helps reduce health costs. CFOs need that information to extrapolate into other areas, such as how weight loss can reduce absenteeism and increase productivity," he says.
Health plans that can become a partner to CFOs will have an advantage as companies consider their coverage options.