With rising non-communicable disease rates and an aging workforce, medical spending around the world continues to outpace inflation, salary increases and GDP growth. Insurers expect the rise to continue over the next three years. Global employers strive to track costs and implement cost management strategies that are viable at a local country level. Cost management initiatives require buy-in from vendor partners and local colleagues in order for the efforts to succeed.
Tracking Costs Globally
Includes cost containment exercises, employer benchmarking data and company examples regarding global containment processes and procedures.
Other Governance and Tracking Tools
Companies E and H provide cost tracking tools as part of their global benefits governance process.
Top 5 Cost Containment Mechanisms
This Global Numbers You Need figure lists the most prevalent cost containment tactics globally and by world region.