“For a successful engagement, we have to have the right people at the table. That means that we have to have executives who have financial responsibility for health insurance. We find oftentimes the discussion needs to be with an executive level CFO who is willing to take a different view of this world.”
Despite the fact that it isn’t frequently discussed as a spend category, health insurance represents an ideal opportunity for procurement to create value for the business. It is a large category in terms of spend, involves a lot of nuances and complexity, and it has been the exclusive domain of Human Resources – until now.
This episode is based on a recent category briefing held within the AOP Mastermind community. Philip Ideson was joined by Eric Krieg, the Managing Director of Risk International Services, experts in helping organizations manage the health insurance spend category. He provided a category overview and then answered live questions.
In the conversation, Eric shared how procurement can strategically manage the health insurance category, including:
- The nature of the health insurance market today
- Tips on how procurement can engage with stakeholders to manage this critical and sensitive category
- The opportunities that exist for procurement to create lasting value once we are engaged