Hartford Business Journal

www.HartfordBusiness.com December 22, 2014 • Hartford Business Journal 23 Industry Focus E c o n o m i c F o r E c a s t Evolution and greater differentiation among plans across and even within metallic levels, consumers are having to make more decisions to select the best benefit to meet their budget and healthcare needs. After that, they need to figure out how to access the most appropriate care with the best value and best outcomes. The level of consumer engagement will only grow. So insurers are also expanding how consum- ers can engage with them, from the Web to phone to retail-like consumer support centers; providing incentives to reach healthcare goals; and offering more detailed data on the cost and quality of care. For example, several major national carri- ers, including UnitedHealthcare, are working with the independent, not-for-profit Health Care Cost Institute to develop and provide consum- ers free access to an online tool that promises to offer the most comprehensive information about the price and quality of healthcare ser- vices. Consumers, employers and regulatory agencies will have a single source of consistent, transparent healthcare information based on the most up-to-date data. How do these help? Consider that by simply providing healthcare prices to consumers, U.S. healthcare costs can be reduced by more than $100 billion during the next decade, according to a 2014 report by the Gary and Mary West Health Policy Center. As we look to enhancing the healthcare system, there are still concerns that need to be addressed. The 2013 America's Health Rankings report, published jointly by the United Health Founda- tion, American Public Health Association and Partnership for Prevention, ranked Connecticut No. 7 among 50 states across healthcare mea- sures and outcomes — but there is room for improvement, as outlined in the Centers for Dis- ease Control and Prevention's 2008 "Connecticut — Burden of Chronic Diseases." Innovative collaborations like the ones that Connecticut Children's Medical Center has with UnitedHealthcare and Stanley Black & Decker, plus community-based groups, can reap significant benefits in addressing asthma, obesity, childhood diabetes and environmental hazards for children. Greater collaboration with physicians, employers and community groups to improve access to and quality of care can help Connecticut residents live healthier lives — and can enhance our ability to grow our economy. n Stephen Farrell is the CEO of UnitedHealth- care of New England. ▶ ▶ Consider that by simply providing healthcare prices to consumers, U.S. healthcare costs can be reduced by more than $100 billion during the next decade, according to a 2014 report by the Gary and Mary West Health Policy Center. EXPLORING IDEAS & ISSUES RISING STAR BREAKFAST featuring Mayor Pedro E. Segarra, City of Hartford A CONVERSATION WITH THE MAYOR Tuesday, January 13, 2015 at INFINITY MUSIC HALL & BISTRO 32 Front Street, Downtown Hartford Parking available at North Garage. Enter at the end of Front St. Crossing REGISTRATION, NETWORKING & CONTINENTAL BREAKFAST begins at 7:30 a.m. PROGRAM from 8:00 - 9:00 a.m. $20 for Alliance Investors/$40 for the General Public Register at www.metrohartford.com Event Sponsor Media Sponsors

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