Today’s businesses don’t always want to rely on corporate insurance providers. Instead, many companies seek innovative approaches to provide comprehensive healthcare solutions to their employees while managing costs. 

Louisville Hip and Knee Institute (LHKI) offers a valuable employer direct care program for self-insured employers. 

What Are Employer Self-Insured Plans?

Employer self-insured, or self-funded health plans are healthcare financing arrangements where the employer assumes the financial responsibility for providing healthcare coverage to their employees. 

How Employer Self-Insured Plans Differ From Traditional Insurance Plans?

Rather than paying fixed premiums to a traditional insurance carrier, the employer takes on the risk of medical claims incurred by their employees. This approach allows businesses control over their healthcare plans and potentially saves on costs.

1. Savings Without Loss of Care

With self-insurance, employers can save money by eliminating profit margins and overhead associated with traditional insurance carriers. Employers can reduce costs by working directly with healthcare providers, like the Louisville Hip & Knee Institute, through negotiated rates and transparent pricing structures.

2. Request Your Specialist

You can also request your specialists and get the best doctors for your staff when they need it the most. For example, we offer focused expertise in hip and knee surgery. Employers opting for self-insurance can direct their employees to receive specialized orthopaedic care directly from our team, ensuring precise diagnoses, personalized treatment plans, and quicker recoveries.

3. Improved Employee Health and Productivity

Employees receiving specialized orthopaedic care are more likely to experience faster recoveries and better outcomes. Getting the best treatments and physical therapy covered by traditional insurance can be challenging. Healthy employees are more productive, leading to reduced absenteeism and enhanced satisfaction.

4. Customized Care Plans

Self-insured employers can tailor healthcare plans to meet the unique needs of their workforce. At the Louisville Hip & Knee Institute, we collaborate with businesses to design orthopaedic-specific benefit packages that promote fast injury response to employee wellness.

Tips for Employers Considering Self-Insurance

1. Evaluate Risk Tolerance: Assess your organization’s risk tolerance and financial capability to cover potential healthcare expenses. Our team can assist in assessing the feasibility of self-insurance and offer guidance on setting up a robust risk management strategy.
2. Implement Wellness Programs: Promote employee health and wellness to reduce the likelihood of orthopaedic issues. LHKI can assist in designing workplace wellness programs focusing on hip and knee health.
3. Become an Employer Partner with an Orthopaedic Specialist: Partner with LHKI’s orthopaedic specialists to create a tailored self-insured healthcare plan. LHKI offers an integrated direct care program, ensuring employees can access specialized orthopaedic care. We also provide valuable workplace safety resources to support your employees’ well-being.

How LHKI Can Help Employers Start Self-Insurance 

Customized Plans: We work closely with businesses to create orthopaedic-specific benefit packages that save money for employers while also providing top musculoskeletal care. We also can develop plans to promote employee wellness. Our expertise ensures that employees receive the right care at the right time.

Direct Care Program: LHKI offers an employer direct care program, providing them with direct access to specialized orthopaedic care. This not only enhances healthcare quality but also helps manage costs efficiently.

Streamlined Care: From injury notification, diagnosis, and treatment to follow-up.

Transparent Pricing: Clear, bundled care options tailored for direct payers. This is how Louisville businesses have saved big while providing specialty care to injured employees. 

Priority Access: Speedy consultation bookings, telehealth services, instant messaging, and procedure scheduling.

Pain Management: We offer a variety of ways to get employees back on their feet and feeling great, including non-narcotic pain relief options.

Employee Training: We offer various courses that can expand your workplace safety resources and mitigate workplace injuries.

Experienced Medical Team: Entrust your employees to the finest hip and knee surgeons in Louisville & Southern Indiana.

Workplace Safety Resources: We provide valuable workplace safety resources to support your employees’ well-being. These resources can help prevent injuries and reduce the need for orthopaedic care.

Self-insurance is an increasingly popular choice for businesses seeking specialized orthopaedic care while managing costs. Employers opting for self-insurance can benefit from personalized care, cost savings, improved employee health, and flexibility in plan design. 

Your employees can access orthopedic care by partnering with the Louisville Hip and Knee Institute. Talk to our team at 502-HIP-KNEE (447-56330 and open a direct line to musculoskeletal experts so your employees receive the best care.