Bothwell Regional Health Center receives award for new health insurance plan

Health Rosetta recently awarded Bothwell Regional Health Center a Rosie Award for providing outstanding contributions and innovative leadership in the health care sector.

Rosie Awards recognize high-value, low-cost health plans from employers and unions across the United States. Bothwell was picked for the award from 196 finalists and over 2,000 initial candidates that were nominated by benefits advisors, solution providers and clinical professionals in a competitive process. Lisa Irwin, Bothwell Human Resources and Support Services vice president, and Steve Davis, Bothwell chief financial officer, accepted the award at RosettaFest held Sept. 11-13 in Washington, D.C.

The Health Rosetta hosts the annual RosettaFest to bring together benefits advisors, clinical leaders, employers, unions and public entities to share strategies for delivering better care at a lower cost while improving patient outcomes.

In 2023, Bothwell replaced its existing health plan carrier with an independent third-party administrator and pharmacy benefits manager and leveraged the Health Cooperative of Missouri's network. Employee savings are tied to the plan design. There are no copays, no deductibles and no co-insurance if an employee sees a Bothwell provider. A national network of providers is also available with the plan.

"When it comes to employee workforce initiatives, it's hard to imagine a more valuable program than an employee's major medical health plan," Irwin said. "We recognized that rising costs were going to put too much financial burden on our employees and on the organization. Our Senior Leadership Team took a strategic approach to our overall health plan strategy to improve health and contain costs where possible."

Davis said cost savings with the new plan have been significant and resulted in several other positive results.

"Ultimately, by customizing our approach and implementing a new strategy, we were able to save employees nearly $500,000 as a whole while decreasing our costs by $754,000 in the first year," he said. "Additionally, we've seen an 11% higher utilization of Bothwell providers, reduced our diabetes comorbidity from #1 to #3, and increased employee satisfaction with the health insurance plan."

The award recognizes Bothwell for its high Plan GraderTM score, effective use of its "Health Rosetta Dividend," collaborative spirit and abundance mindset. The Plan GraderTM is an independent assessment tool that evaluates health plan strategies, assisting organizations in lowering costs and enhancing benefits over a two- to three-year period through actionable insights. Each Rosie Award winner has eliminated a portion of the over $1 trillion in industry waste and reinvested those resources back into their organization or community, which is known as the Health Rosetta Dividend.

Bothwell's selection also highlights the award-winning plan design and advice led by their Health Rosetta Advisor Brendan Hurley, senior consultant with AssuredPartners, a national partnership of leading independent insurance brokers specializing in property and casualty and employee benefits. Hurley said it was a privilege to work with Bothwell on the new plan design and see that work recognized at RosettaFest.

"It was a truly remarkable experience to join my client Bothwell Regional Health Center as they accepted an award in the health care sector for one of the most innovative employee health plans in America," Hurley said. "Bothwell's willingness to think differently allowed for the opportunity to improve access and generate drastic savings for their employees, as well as their families. They were specifically honored in the category of "Walking the Talk" for a hospital system that is doing right by their employees in lowering costs, while also extending a hand to their local community businesses as a strategic partner."

Irwin said receiving the Rosie Award is a testament to Bothwell's hard work and dedication to providing competitive wages and generous benefits that attract top talent.

"Company values, work environment and compensation, which includes health insurance and other benefits, are important reasons people want to work for Bothwell," she said. "We appreciate our board's support as the leadership team continues to create a great culture for our employees who are here to care for the health and well-being of our communities."

Release courtesy of Bothwell Regional Health Center.