Credited with a *1.6 Billion-dollar savings* over a 3-year period, Christin Deacon, Assistant Director of the Division of Pension and Benefits for the State of New Jersey, certainly knows a thing or two about how to make an impact on medical pricing!
Even more impressive is that the plans she handles cover more than 820,000 people on plans classified as Cadillac++.
She says shifting costs to members isn’t an option, and she instead uses methods like a PBM reverse auction, and by shifting the focus from discounted pricing to unit-price guarantees to move the needle.
Christin shared so many awesome tips with us about how organizations of any size can achieve huge goals when building and overhauling their own benefit plans.
She covered everything from how her team has made incredible improvements while focusing on both cost AND quality, to collaborating with everyone involved in the process, to communication, transparency, and tips for those just beginning to work on pricing.
Connect with Christin: https://www.linkedin.com/in/christin-chris-deacon-b91b9611b/
Learn more about Speaking Of, Making Healthcare Work for You: https://youtube.com/playlist?list=PLoBUZUU2U9HID82JUcPoWiR6gh5hN5X55
Topical time codes
00:28 – Christin’s role with the state of NJ
1:18 – Strategy behind pricing
2:50 – How to hold a reverse auction
5:53 – Moving from discount-focus to unit-price guarantees
9:06 – Collaboration with the provider community
11:20 – Healthcare spend is huge, need to think about what and how we’re spending
13:41 – On the precipice of change – from CHRO-only to CHRO & CFO involvement
16:15 – Building trust and communication with plan participants
20:01 – Healthcare is a constant evolution
22:13 – Tips for how other orgs can make change
