Study Examines Benefits and Cost Savings of OTC Programs
Learn how OTC programs could help health plans get ahead of the $4.4 billion lost annually to avoidable emergency room care, deliver an ROI of 7 to 1, and improve consumer retention by 8.6 percent.
A recent study of a population with high healthcare utilization rates found giving consumers access to over-the-counter care benefits can reduce the number of avoidable ER visits and hospital admissions while improving consumer satisfaction and saving health plans millions. The study analyzed a 20,000-consumer plan over the course of one year, comparing a range of data, including ER visits, hospital admissions, avoidable in-patient admissions and voluntary plan disenrollment.
In this study you'll find:
* An evaluation of the OTC opportunity: Studies suggest OTC medicines could reduce costs across the health care system.
* Background on the methodology used: Comparing healthcare utilization rates between consumers who have an OTC benefit with those who don't reveals the potential of OTC.
* Findings that indicate the positive impact of OTC: The numbers make it clear — an OTC benefit could reduce health plan utilization.
* Results in the form of savings and satisfaction rates: Millions of dollars in savings and improved consumer satisfaction are possible for health plans offering an OTC program.
