Companies today are making a move towards boutique benefits for their employees, going well beyond that monthly gym membership stipend that we’ve all become accustomed to seeing. Holistic wellbeing offerings like mental health counseling, virtual healthcare at your fingertips, and emergent benefits like family building and fertility, these are the types of solutions that forward-thinking companies are offering to attract the top talent in their industries.
But new to market is about more than being trendy. It means that it is undefined and that employers have significant power in the marketplace to define what and how they buy these benefits and services. Early pricing looked all too familiar in the family-building and fertility space, following traditional per employee per month (PEPM) or margin/markup modeling. While early to market benefit administrators gave employers access to provide these benefits to their employees, there is a better way.
There is a big move happening in health care. Giants like Boeing, Walmart, and others, have shifted and are skipping the insurers and administrators altogether. Instead, they are opting to contract directly with quality-focused providers, with impressive results across the board regarding cost, outcomes, and member experience.
Kindbody’s direct employer contracting model with value-based case rates has demonstrated 15-25% cost savings over other pricing models in the industry. These price savings are offered through Kindbody Signature Clinics and expanded access across the country, providing patients the highest quality of care. This approach has a more profound impact than contracted cost, showing additional indirect savings from decreased NICU admissions and mitigated costs from early interventions. Most importantly, employers have healthier and happier employees by receiving quality care, leading to record-setting retention rates.
Is that markup from other benefit providers worth it?