This Week's Herman Trend Alert Talent Production and Attraction in 2015

The Herman Trend Alert March 4, 2009 Consumer-Driven to Save Money "change:healthcare" is a leading edge informatics company created to help individuals and employers save money on healthcare expenses. If you knew you could get the same procedure or service for hundreds or perhaps thousands of dollars less than what your physician or hospital charges, you could certainly make a more informed decision about where you chose to go. That's just what change:healthcare (www.changehealthcare.com) offers---the opportunity to see what other providers are charging for the same product or service. Their enormous database contains cost data on literally thousands of providers and drugstores. Over the last five years, employee healthcare costs have risen by 40 percent, while employers' costs have increased by 29 percent. During the same period, over six million employees have migrated (mostly by necessity) to consumer-driven health plans. We forecasted this shift some years ago. (To see the full study, click here) No one would disagree that for many, the costs are simply unbearable. They respond by either not going to the doctor, taking the medication, or having the procedure. "Most people don't apply the normal rules of consumerism to healthcare," said Robert Hendrick, cofounder and Chief Operating Officer of change:healthcare. "They do not think of medical care as a commodity." However, when quality care or the very same prescription medication is available at a much lower cost in the same metro area, then many of us will choose to take action. Typical corner drugstores, including the large chains, charge 30 to 40 percent more than some other providers, such as grocery pharmacies. In this economic climate, that savings is very meaningful. So what is the benefit for employers? After analyzing 12 to 18 months of past claims data, the company performs an analysis to look at the range of rates in the geographical area. The typical cost savings is substantial---between 25 and 40 percent. . . and the pharmaceuticals involved are not generics, but branded drugs. It is not uncommon for employer savings to exceed USD$250,000. Making people aware of their options allows them to make more informed decisions. Particularly in these challenging times, consumers will vote with their pocketbooks in the US and overseas. © Copyright 1998- by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Roger Herman and Joyce Gioia, Strategic Business Futurists. (800) 227-3566 or http://www.hermangroup.com. The Herman Trend Alert is a trademark of The Herman Group, Inc." IS YOUR EMPLOYER AN EMPLOYER OF CHOICE®? Our effective, onsite seminars, workshops, and consulting can help you get there. We offer 1-, 2-, 3-hour, and full-day programs to help you communicate what it takes to become an Employer of Choice® and inspire your folks to get it done. In the future, being an Employer of Choice® will not be optional. Call Carol at 336-210-3547 to arrange a no-obligation conference call. Email info@EmployerOfChoice.com for more information. Or order the electronic version of the Employer of Choice book on your desktop for only $17.80 @ http://hermangroup.com/store/books_all.html#2. EMPLOYERS AND JOBSEEKERS: MARK YOUR CALENDARS Advertise at or attend VetJobs Virtual Career Fairs. VetJobs, the top veterans' job board, and PSI, the premier diversity job fair producer, are teaming up to launch these VeteransCONNECT events. Early employer registration is now open with employer loading by February 15th. Candidate loading begins March 1st. They anticipate 25-30 employers and have an attendee goal of 2,000 skilled jobseekers. Promoted extensively, early registration for this event begins is open NOW. To register or request additional information, please contact VetJobs at 877-838-5627 or e-mail info@vetjobs.com; they will forward an electronic flyer right away. Employers: Mention the Herman Trend Alert to receive a Bonus. CALCULATE THE HIGH COST OF YOUR EMPLOYEE TURNOVER With our Bliss-Gately tool, you can calculate the many hard and soft costs, down to the last penny. Great for justifying your investments in retention! At only $249/computer or $999 for a 6-site license, it is a real bargain! Visit http://www.hermangroup.com/store/software.html to order yours today! Herman Trend Alerts are produced by the Herman Group, strategic business futurists, Certified Management Consultants, authors, and professional speakers. New subscribers are welcome. There is no charge for this public service. 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