How Discovery Health’s ‘shared value’ model helps keep premiums down
Collaboration with members and their doctors improves efficiency and quality of healthcare, says Discovery Health CEO
Last week in this column, I asked: what is driving up our healthcare costs? I shared our data, which indicates that higher usage of healthcare services is the key driver of medical scheme claims increasing by 5% above the consumer price index each year. Our healthcare system, both public and private, is facing a massive challenge from rapidly escalating rates of chronic conditions such as diabetes and heart disease. These pressures are aggravated by high-cost new medicines and technologies and by inefficiency – in particular due to unnecessary tests and procedures – and fraud. Discovery Health is deeply committed to tackling these issues, in cooperation with health professionals and our members, through what we call a shared-value health insurance model. In this model, we collaborate with members and their doctors to improve efficiency and quality of healthcare throughout the system. This makes members healthier and reduces claims significantly. The resulting surplus is shared wit...
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