Why Do Actuarial Risk Horizons Really Matter for Anybody Trying to Improve Patient Outcomes? With Keith Passwater and JR Clark—Summer Shorts 7

Understanding Actuarial Risk Horizons in Healthcare with Keith Passwater and J.R. Clark

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In this episode, Stacey Richter speaks with Keith Passwater and J.R. Clark, healthcare entrepreneurs and executives, about the importance of actuarial risk horizons in improving patient outcomes. They discuss how different risk horizons impact healthcare costs, benefit designs, and plan strategies. Keith and JR explain the key differences in risk management between short-term and long-term healthcare plans, such as individual exchanges and employer group insurance, and emphasize the significance of including the patient as a stakeholder in actuarial models. The episode highlights the complexities and challenges faced by actuaries in the healthcare system and the potential benefits of innovative, patient-focused actuarial practices.

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02:39 Why is it a problem for actuaries to ignore the patient as stakeholders in benefit design plans?

04:37 What is a risk horizon for actuaries?

05:38 “What’s the time interval over which we hope to impact healthcare costs?”

07:25 What is a risky investment from an actuary’s point of view?

08:05 How do you keep premiums down when the time horizon is short in an actuary’s point of view?

10:31 How do actuaries assess risk horizons or health insurance, and why do they choose those risk horizons?

14:05 What options are on the table when the risk horizon is longer?

16:06 How does the length of risk horizon affect benefit design?