Recommendation For Company to essay paper
Recommendation For Company
Briana Schwam, Madeline MacLean, Shaun Armet, William Zinkann, & Murteza Acar
August 2022
Financial health literacy
Blue Cross Blue Shield of Massachusetts is an Independent Licensee of the Blue Cross and Blue Shield Association.Recommendation For Company
BLUE CROSS BLUE SHIELD OF MASSACHUSETTS
CONFIDENTIAL – NOT FOR DISTRIBUTION
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BLUE CROSS BLUE SHIELD OF MASSACHUSETTS | CONFIDENTIAL – NOT FOR DISTRIBUTION
Blue Cross Blue Shield of Massachusetts is an Independent Licensee of the Blue Cross and Blue Shield Association.
Meet the team
Briana Schwam
Talent & Development
Virginia Tech
Murteza Acar
Technical Product Owner
Boston University
Madeline MacLeanRecommendation For Company
Underwriting
University of Wisconsin-Madison
Shaun Armet
Enterprise Delivery
Arizona State University
William Zinkann
API/EDI Project Delivery
Elon University
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BLUE CROSS BLUE SHIELD OF MASSACHUSETTS | CONFIDENTIAL – NOT FOR DISTRIBUTION
Blue Cross Blue Shield of Massachusetts is an Independent Licensee of the Blue Cross and Blue Shield Association.
2/9/2016
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Recommendation For Company
Agenda
Financial Health Literacy Framework
Where are we in Greater Society?
Best Practices
Sharing the Responsibly & Continuing the Cycle
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BLUE CROSS BLUE SHIELD OF MASSACHUSETTS | CONFIDENTIAL – NOT FOR DISTRIBUTION
Blue Cross Blue Shield of Massachusetts is an Independent Licensee of the Blue Cross and Blue Shield Association.
2/9/2016
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Health Information should be…
Health literacy empowers individuals and promotes a sense of well-being and self-trust.
Health literacy best practices are not just simplifying information, it is also making sure information is presented accurately and understandably.Recommendation For Company
Just because information has been created does not mean that people can see it or use it
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BLUE CROSS BLUE SHIELD OF MASSACHUSETTS | CONFIDENTIAL – NOT FOR DISTRIBUTION
Blue Cross Blue Shield of Massachusetts is an Independent Licensee of the Blue Cross and Blue Shield Association.
Bridge gap between financial literacy and health literacy, how literacy inhibit or advances equity, can they understand and take action relevant to their health and also their finances – financial health literacy is when that comes together
Financial health literacy is mitigating the consequences
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GAPS in Financial Health Literacy
While premium, copay are the three most common health care expense terms, only 32% of respondents were able to correctly define all three terms.
Around one in four Americans avoided care because they didn’t know what their health insurance plan covered.
Have you ever avoided care or treatment because you were unsure of what your insurance covers?
Around 1 in 4 Americans avoided care because they didn’t know what their health insurance plan covered.
Q:
A:
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BLUE CROSS BLUE SHIELD OF MASSACHUSETTS | CONFIDENTIAL – NOT FOR DISTRIBUTION
Blue Cross Blue Shield of Massachusetts is an Independent Licensee of the Blue Cross and Blue Shield Association.
What is a Copay? Correct Incorrect 0.42 0.57999999999999996
What is a Premium?
What is a Premium? Correct Incorrect 0.55000000000000004 0.57999999999999996
What is a Deductible?
What is a Premium? Correct Incorrect 0.5 0.5
TEMP SLIDE (GAPS IN FINANCIAL HEALTH LITERACY Viewer Response Questions)
A Nationally Representative Survey of 1,500 Adults Were Asked Two Questions:
Can you define these three most common, health care expense terms?
Copay | Premium | Deductible
Percentage of Respondents who correctly defined all three
32%
Have you ever avoided care or treatment because you were unsure of what your insurance covers?
25%
Percentage of Respondents who answered YES
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BLUE CROSS BLUE SHIELD OF MASSACHUSETTS | CONFIDENTIAL – NOT FOR DISTRIBUTION
Blue Cross Blue Shield of Massachusetts is an Independent Licensee of the Blue Cross and Blue Shield Association.
Financial health literacy framework
2 Decades of Research
Shows todays health information is presented in a way that is not usable for most Americans
9 out of 10
Adults have difficult using everyday health information
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BLUE CROSS BLUE SHIELD OF MASSACHUSETTS | CONFIDENTIAL – NOT FOR DISTRIBUTION
Blue Cross Blue Shield of Massachusetts is an Independent Licensee of the Blue Cross and Blue Shield Association.
A multi level effort to create a heath literate society
While multiple goals are identified, we isolated these three for our presentation for BCBS current strategy
Because FHL is a systemic issue, it has required attention from an organized body – who developed the NAPIHL – whose end goal is to create 1.2.3.
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National Action Plan to Improve Health Literacy
More usable health information
Cost effective
Improves health outcomes
financial health literacy in action
Not having the resources to become more financially literate creates a cycle of poor health care and negative experience.
Although gaps exists, there are still steps that can be taken to adjust the cycle with a more positive outcome
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BLUE CROSS BLUE SHIELD OF MASSACHUSETTS | CONFIDENTIAL – NOT FOR DISTRIBUTION
Blue Cross Blue Shield of Massachusetts is an Independent Licensee of the Blue Cross and Blue Shield Association.
Providing members with access to accurate and actionable health information
Deliver person-centered health information and services
Support life-long learning and skills to promote good heath
Low Financial Health Literacy
Rate their health as poor
Higher risk of being admitted to the hospital
More likely to have chronic medical conditions
Unable to manage their own care
IDEALL Project – San Francisco General Hospital
Improving diabetes efforts across language and literacy
Provided patients with weekly phone calls to address literacy and language needs
Improved communication and self-efficacy at a modest cost
Patient Navigators – IHN Network
The Health Education and literacy Program
– Utilized health coaches to uninsured and underinsured residents to empower them to take control of their health information
27% of chronic disease patients we able to discuss a self-management plan
Limited literacy – New York city health and hospitals corporation
Focused on meeting the needs of residents with limited health literacy
25% of their 1.3 million residents with LEP
Multilingual materials
Patient Centered resources based on consumer reports / Interpreters and client navigators
Strategies in action
GREATER SOCIETY
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BLUE CROSS BLUE SHIELD OF MASSACHUSETTS | CONFIDENTIAL – NOT FOR DISTRIBUTION
Blue Cross Blue Shield of Massachusetts is an Independent Licensee of the Blue Cross and Blue Shield Association.
2/9/2016
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IDEALL Project – San Francisco General Hospital
Provided patients with weekly phone calls to address literacy and language needs
Patient Navigators – IHN Network
– Utilized health coaches to uninsured and underinsured residents to empower them to take control of their health information
Limited literacy – New York city health and hospitals corporation
25% of their 1.3 million residents with LEP
Improved communication and self-efficacy at a modest cost
27% of chronic disease patients we able to discuss a self-management plan
Multilingual materials
Patient Centered resources based on consumer reports / Interpreters and client navigators
Breaking the stigma
Spread awareness & normalize conversations surrounding financial health literacy
accessibility
DISTRIBUTION
High quality for all
Ensure accurate and reliable information are being distributed to ALL members
Do all members have access to improving their financial health literacy?
High costs do not always equate high quality
Our goal is to diminish and help eliminate inequities to ensure all members’ needs are met
best practices
How to Advance Financial Health Literacy
Patient portals,
patient forms
Numerous Platforms: Paper & Online
Provide resources:
info sheet, concierge assistance,
financial planner
Continue financial education for associates in employee trainings &
ongoing consumer education
Cost and quality must be portrayed separately to provide transparency and cater to the quality the member desires
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BLUE CROSS BLUE SHIELD OF MASSACHUSETTS | CONFIDENTIAL – NOT FOR DISTRIBUTION
Blue Cross Blue Shield of Massachusetts is an Independent Licensee of the Blue Cross and Blue Shield Association.
1) We have put together four key best practices to improving financial health literacy. A common need for members is high quality care. How can we ensure high quality for all when high costs do not always equate high quality. Our goal is to diminish and help eliminate inequalities to ensure all members’ needs are met. A best practice to ensure high quality for all is for the cost and quality to be portrayed separately in order for the member to receive the quality that they desire.
2) Accessibility is a major barrier in society today: Not all individuals have access to care and access to medicine. Another significant barrier is access to tools and resources to improve financial health literacy. A best practice to ensure accessibility is for health companies to provide resources such as financial health literacy info sheets, concierge assistance, and access to work with a professional financial planner.
3) An important step in advancing financial health literacy is ensuring that information is accurate and reliable. The next step that is often missed is the distribution method. It is crucial that these tools and resources are being distributed on numerous platforms such as online patient portals and paper forms to ensure that we are reaching ALL members.
4) Conversations surrounding financial health literacy should be a norm in our everyday lives. Together, we can break the stigma by spreading awareness and continuing financial education for associates in employee trainings and ongoing consumer education.
Equity standpoint for first box – we want to diminish and help eliminate inequities – socioeconomic, cultural, need their needs met
bri
https://patientengagementhit.com/news/what-is-patient-financial-health-literacy-why-is-it-important
Add slide with chart of group percentages and health literacy to see the difference with minorities?
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Increase on health insurance knowledge is vital
There is less general knowledge about health insurance on
Higher health insurance literacy to improve health care utilization
Consumers increase their confidence on using insurance (Smith, Monti, Politi, 2018).
best practices
1. Consumer Education
Enhance communication between insurer and consumer through
Plain, clear, and transparent language
Use of digital engagement tools such as mobile apps and video conferencing
Use of trusted sources of health insurance information such as health care professionals
Encourage feedback on insurance product
Follow-up on consumers
2. Enhanced Communication on Health Insurance Concepts
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BLUE CROSS BLUE SHIELD OF MASSACHUSETTS | CONFIDENTIAL – NOT FOR DISTRIBUTION
Blue Cross Blue Shield of Massachusetts is an Independent Licensee of the Blue Cross and Blue Shield Association.
1.Consumer Education
There is need for health insurers to focus on consumer education of their product to increase utilization of healthcare services.
Consumer education will increase health insurance knowledge thus enhance understanding of health care and confidence in seeking health services.
Most insured and uninsured people have less general knowledge about health insurance on various areas including premiums to be paid, costs covered on treatment of various conditions and any out-of-pockets costs, health services provided with no out-of-pocket costs and conditions covered among others.
With higher health insurance literarcy, consumers will seek health care services with confidence.
2. Enhanced Communication
There is need for enhanced communication between the insurers and consumers to enhance understanding on different aspects of health coverage.
Enhanced communication of health insurance concepts will give the insured confidence to seek healthcare services while attract the uninsured to get health coverage because they understand the concepts.
Digital engagement tools can be used to facilitate communication.
The information shared should be clear and transparent to consumers.
Health insurers can follow-up on their consumers regarding check-up visits to encourage them to get routine check-ups.
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Non-Insured at slightly higher rate to forego care due to cost compared to the insured (Tipirneni et al, 2018)
Consumer Education (cont’d)
Foregone Care due to Cost
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BLUE CROSS BLUE SHIELD OF MASSACHUSETTS | CONFIDENTIAL – NOT FOR DISTRIBUTION
Blue Cross Blue Shield of Massachusetts is an Independent Licensee of the Blue Cross and Blue Shield Association.
Don’t want people making decisions based on lack of information of their coverage – inaccurate information
People make decisions of their care based on cost, those decisions need to be based on the most accurate information
This graph is showing the prevalence of this decision making
Delete 13 and take off that bullet on right and put what is above in this notes
3 bullets saying what is above
The graph above is an illustration of the prevalence of foregone care among insured and non-insured participants of a study conducted by Tipirneni and team (2018).
As much as more of the non-insured than insured avoided health care utilization due to costs, the difference is minimal.
One key factor contributing to avoidance of health care utilization among the insured is inadequate knowledge on costs associated with seeking health care thus the need for consumer education.
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Foregone Care due to Cost
Cholesterol Check Insured Non-Insured 11 15 Colon Cancer Screening Insured Non-Insured 10 7 Pap Smear Insured Non-Insured 14 16 X-Ray Insured Non-Insured 6 7 MRI Insured Non-Insured 17 23
the cycle to success
The Importance of Education
Leaders to Associates
This top-down approach creates enterprise-wide communication, resources, and language regarding financial health literacy.
Associates to Members
While benefits and member service departments directly working with members, all associates share the responsibly of understanding financial health literacy.
Members to Society
Financial health literacy is a part of everyday life such as grocery shopping and medical appointments.
Our goal is for society to reach financial stability.
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BLUE CROSS BLUE SHIELD OF MASSACHUSETTS | CONFIDENTIAL – NOT FOR DISTRIBUTION
Blue Cross Blue Shield of Massachusetts is an Independent Licensee of the Blue Cross and Blue Shield Association.
In order to break the stigma, we must educate ourselves to help educate others. This cycle ensures that all associates enterprise-wide have the tools and resources to understand and speak on financial health literacy. The cycle starts with leaders communicating with associates by using consistent language and communication. Then, associates will continue the cycle by sharing this information with members. While not all departments work directly with members, we all must share the responsibly of understanding financial health literacy. Lastly, members will use this knowledge in their everyday lives when individuals are in need of making financial decisions based on their health needs.
bri
We Must Educate Ourselves to Help Educate Others
impact
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Let’s work together to advance financial health literacy
Thank you! QUESTIONS?
Scan the QR Code to Continue the Conversation & Grow Your Knowledge in Financial Health Literacy
https://linktr.ee/financialhealthliteracy
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BLUE CROSS BLUE SHIELD OF MASSACHUSETTS | CONFIDENTIAL – NOT FOR DISTRIBUTION
Blue Cross Blue Shield of Massachusetts is an Independent Licensee of the Blue Cross and Blue Shield Association.
Bri:
We ask you to take action with us to advance financial health literacy by continuing the conversation and grow your knowledge in financial health literacy. We encourage you to scan the QR code and save the link. We put together these resources to ensure that we are continuing the cycle and sharing the responsibly of educating, spreading awareness, and breaking the stigma on financial health literacy.
Thank you for taking the time out of your day to learn more about financial health literacy and how we can continue the cycle! We would be more than happy to answer any questions at this time.
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Sources
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BLUE CROSS BLUE SHIELD OF MASSACHUSETTS | CONFIDENTIAL – NOT FOR DISTRIBUTION
Blue Cross Blue Shield of Massachusetts is an Independent Licensee of the Blue Cross and Blue Shield Association.
