20 big companies making healthcare alliance to acquire data, control prices

20 big companies, involving American Express, Verizon, Coca-Cola and HCA have joined the newly-launched Health Transformation Alliance to merge information on the population health of their workers, and possibly flex their muscle with insurance companies and major pharma, in accordance to Tevi Troy, president of the American Health Policy Institute.

Health benefit prices or costs are merely part of the initiative, in accordance to Troy, an Ex-Health and Human Services Deputy Secretary and White House Aide.

"I would claim that it is more to manage the problem of spiraling costs," Troy stated on Friday. "In the coming days, the present rates of progress are unsustainable. They are actually worried about what this is doing to co-pays, premiums and deductibles."

The 1^st measure is the collecting information on the population health of the workers of the 20 firms. Each company has asserted to contribute their information for analysis, in accordance to the story 1^st reported in the Wall Street Journal.

"What we find will be utilized to make smarter and better decisions. This is going to provide them more direction," Troy stated. "They need to mention some of the issues they are facing. They desire to look at best practices, and try to search a better path.

They will have leverage but it is not merely about cost, it is about improved health, improved data on 4 million lives."

Pesently, the companies have separate insurance policies. There is no present aim to have all come under an umbrella policy, in accordance to Troy.

"I do not know that someday there will be 1 major policy for twenty companies," he stated. "I am not certain we will ever be at that step. It will offer them opportunities to join in several initiatives. That is within the model."

What is planned is a pharmaceutical initiative in the year 2017 to look at prescription drug prices in policies, he claimed. While employers are not purchasing the drugs through the supply chain they are paying for them, Troy stated.

The Health Transformation Alliance was conceived by the nonprofit American Health Policy Institute with the assistance of the companies, but the 2 entities sustains to be separate, in accordance to Troy, who said what is been fascinating for him has been to see a think tank concept come to fruition.

"It is really thrilling," Troy stated. "This is the official launch."

The 20 companies involve: Verizon Communications Inc., American Express, BNSF Railway Co., American Water,  Brunswick Corp., Coca-Cola Co., Caterpillar Inc., E.I. du Pont de Nemours & Co., Hartford Financial Services Group Inc., HCA Inc., IBM Corp., International Paper Co., Ingersoll-Rand, Lincoln Financial Group, Marriott International Inc., Macy's Inc., NextEra Energy Inc., Pitney Bowes Inc., Shell Oil Co., Weyerhaeuser Co.