Transparent Healthcare 2018-06-20T16:29:39+00:00

Transparent Healthcare

Equinox Beacon

The cost of healthcare in the U.S. has risen to over 18% of GDP and businesses are feeling the squeeze. Unfortunately, companies have been left with few options to control their health “care” costs and instead are only presented with “insurance” options.

This is why we created Beacon Health plan. We wanted to give employers all of the tools they needed to control their healthcare expense like they would any other business expense.

Through transparency, access to actionable data and insights, and healthcare education, we can increase value and lower healthcare costs for the long term.

What is the Equinox Beacon?

The current health insurance market is broken. That’s why Equinox is excited to bring new solutions to employers of all sizes.

We have built a transparent, self-insured health insurance plan for employers of all sizes. The basics of the plan include services such as medical claim auditing, transparent pharmacy plans with rebate pass through and cost control through combined purchasing power of stop-loss insurance.

Once the foundations of your plan have been set, we work with you to implement other solutions such as Domestic Medical Travel, custom pharmacy plan designs, wellness or clinical management options to keep your costs trending down for the long term.

If you’d like to learn more about how to lower your healthcare costs, reach out to us today. Contact us today!

The Equinox Beacon Foundations

Third Party Administrator Solutions (TPA)

If you’re self-funded, partnering with the right TPA (Third Party Administrator) makes all the difference. Your TPA is your claim gatekeeper who is responsible for verifying that all of the claims your plan pays are legitimate. Sadly more than 50% of claims submitted to a plan have an error on them and they are rarely caught. The Equinox Beacon TPA will focus on auditing these claims up front before payment is made which leads to large savings for your plan

From there, we will work with employers on custom solutions to control costs such as bundled payments, direct primary care and directing members to higher quality facilities. Our TPA can also help you decide if referenced based pricing is a viable solution for you.

Pharmacy Management Solutions

Pharmacy claims are expected to make up 50% of a health plans overall costs by 2021 and the current pharmacy solutions are not solving the problem.

Most employers today do not have access to their pharmacy rebates or are only aware of a small portion of their rebates. However, many employers would benefit from a fully transparent pharmacy plan that provides a full rebate pass through and better discounted pharmacy rates. On average 47% of a plans brand name drugs offer a rebate and the typical rebate is $100 per script. Sadly, that rebate is kept by the PBM or the carrier if a business has not negotiated to receive that back. 

The Equinox Beacon plan passes rebates back to our clients so that they receive the full benefit of the prescription savings which helps them drastically reduce their pharmacy spending by 15% or more.

Health Plan Analytics and Benchmarking

You know your health care costs are high but do you know why? Most businesses have no idea outside of a cursory overview of their claims (if they can go that far). The Equinox Beacon provides detailed reporting packages for clients that can help on a number of key issues. We can benchmark claims against regional,  national and medicare data, identify prescription compliance concerns that lead to future shock claims, and help businesses find easy solutions to target through wellness programs.

Additional Cost Control Tools

Domestic Medical Tourism

Domestic Medical Tourism can go by many names but the idea is always the same; sending your employees to centers of excellence for care on high cost procedures. This has been repeatedly demonstrated to improve outcomes, increase satisfaction and lower costs significantly. Equinox Beacon partners with Hostcare Resources to provide best in class guidance and expertise to your employees surrounding high cost medical care decisions to provide ease of use for employees and drastically lower costs through bundled payment plans through premier healthcare facilities.

Radiology Management

Price variation on routine care services can vary widely. MRI’s and other scans can have a 1500% or more price variance from facility to facility! In order to help businesses control claims we have partnered with vendors that provide employees with claims consulting for scheduled procedures. If a member is scheduled for an MRI  or other scan we can have a concierge reach out to that member, educate them on alternate facilities that provide the service at a lower cost and even schedule the appointment for them. This can result in dramatic savings across the board for employers and their employees.

Get in touch with our Transparent Healthcare Experts

Contact Us