Employer Healthcare Strategies

Over 75% of Human Resource professionals say that their organization offers some type of a wellness program. But how effective are these programs? Data-driven leaders know a simple truth: you can't manage what they can't measure - and measuring return on investment (ROI) is essential to determine effectiveness. 

The CareATC Mobile App features some exciting updates, providing members a better way for employees to engage in their health and well-being.

Shockwaves were sent throughout the business community as three of the nation’s largest corporations - Amazon, Berkshire Hathaway and JPMorgan Chase - announced that they are partnering on ways to address healthcare for their U.S. employees, with the aim of improving employee satisfaction and reducing costs. It’s clear: employee health is taking center stage.

It’s no secret that unhealthy employees are less engaged and more apt to affect your bottom-line. Employers have looked for ways to mitigate risk by motivating employees to live healthier lives. With an overwhelming majority of employers planning to implement a health and wellness program in 2018, employers are taking greater aim at intervention, not just prevention.

If you think the health of your employees has no impact on your productivity or bottom line, think again. One out of every four dollars employers pay for health care is tied to unhealthy lifestyle choices such as smoking, stress, and obesity. Despite spending almost twice as much on health care, the U.S. has the worst health outcomes than most other developed nations. The result is higher medical costs for the U.S. and for employers. So, what gives and how can employers influence behavior for the better?

There is a trend, perhaps you have noticed it: healthcare costs are increasing. Yet, the means of paying those costs is not going up at the same rate. In a country where high deductible healthcare plans are the norm, it becomes more difficult for employees to keep up with preventative care—some of them forgo it completely.

Identify the factors that contribute to unhealthy workforce and discover what you can do to turn things around for good.

People are the greatest asset of any organization. Some of the greatest companies are built on the innovative minds of an engaged workforce. But with less than one-third of employees engaged at work, it’s in the best interest of every employer to explore barriers to engagement – including health.

One of the most promising uses of wearable fitness technology is its role in the workplace. With employers paying thousands of dollars a month to cover health insurance policies for employees, wearable technology is changing the game — for everyone.

About 90% of companies now offer workplace wellness programs, some of which encourage employees to use wearable devices, such as Fitbit, to measure the quantity and intensity of their workouts.

What’s in it for employers? Potential reduction in the cost of providing employee healthcare, along with the goodwill that engagement programs can cultivate. 

Researcher and management guru Jim Collins is well-known for his authored works Good to Great and Built to Last. In this latter book, a thought-provoking point is made:

“Indeed, if there is any one 'secret' to an enduring great company, it is the ability to manage continuity and change — a discipline that must be consciously practiced, even by the most visionary of companies.”

Managing continuity and change can be challenging – especially in the realm of healthcare, and especially if you’re a small- to medium-size business (SMB). 

Small and medium-size businesses place high importance overall on workforce health. In fact, nearly 93% say the health of their employees is important to their business's bottom line. Unfortunately, nearly 60% of these employers say that there is not enough information available to small businesses about implementing wellness programs – and there isn’t any wonder why.

Healthy, happy employees are also more productive employees. In fact, employee health and wellness – or lack thereof – is possibly the single biggest determining factor when it comes to employee productivity.

Think about it. The barriers to productivity are either physical: Fatigue, illness, injury. Or mental: Depression, stress, distraction.

Reducing these physical and mental factors will increase attendance and ensure that employees are able to perform at their best, as well as create an environment with high morale that employees enjoy being at.