Fostering a healthy workplace is top priority for HR leaders and benefit advisers. With so many emerging benefits, it's critical they're on top of what employees want — and what it will cost if they don't make the investment.
Preventive care is a crucial piece of reducing costs, improving outcomes and even saving lives. Whether it's promoting cancer screenings, or supporting lifestyle changes that address autoimmune disease or the impact of obesity, early interventions are a low-cost way to make a big impact.
A new report from healthcare platform Color Health shows that although 80% of employers are concerned by rising cancer costs and 96% of benefits leaders agree early detection is the best solution, the majority of focus is devoted to post-diagnosis treatment, rather than evidence-based screenings. Yet promoting these benefits through awareness and education, and tracking utilization with the right data can improve outcomes for the entire workforce population, says Othman Laraki, Color Health's CEO.
"For many companies, the healthcare budget is the number one or number two cost," Laraki says. "Highly socialize within a company or in a team the act of getting preventive care and getting your screenings done."
Read more about the benefits of an early diagnosis, and how to get more employees to engage: 3 ways to help employees catch cancer sooner
Other chronic conditions like autoimmune disorders can cost employers billions of dollars in absenteeism and productivity, on top of the dollars needed to treat the underlying issues. To help reduce and manage the symptoms of these disorders, Maven Clinic, the world's largest virtual clinic for women and family health, is now offering autoimmune disease support as an employee benefit through its partnership with WellTheory, a platform dedicated to helping patients reduce their symptoms. WellTheory's platform provides users with a care team of specialists who can help reduce said symptoms through nutrition, sleep hygiene, stress management and movement, among other benefits.
"Our focus is really on bridging the gaps in between doctor's visits to drive these long-term health outcomes," says Ellen Rudolph, co-founder and CEO of WellTheory. "These conditions unfortunately don't have cures, so many people are managing this over a lifetime."
Read more about the importance of addressing autoimmune disease in your healthcare plans: Autoimmune disease support might be the next big benefit in healthcare
A hot topic of conversation when it comes to health and wellness are the new class of increasingly popular weight-loss drugs. While the majority of benefits plans do not cover these medications due to the cost, a carefully designed plan that includes a combination of newly-approved weight loss prescription drugs, counseling and coaching for lifestyle changes could unlock cost-saving capabilities, while supporting those employees who are eager to make a real difference in their lives.
Consider that just a 10% reduction in total body weight can reduce the risk of many health conditions, like cardiovascular disease, type 2 diabetes and high blood pressure, helping to reduce long-term medical expenses. Supporting employees with a benefits plan that includes wellness and weight loss options can create more than cost savings. Showing support to those interested can improve employee morale and increase employee satisfaction and engagement.
Read more about the benefits of weight loss drugs when paired with other health initiatives: New class of weight-loss drugs may be worth the investment
Ensuring access to high-quality care while identifying opportunities for cost savings is essential for prioritizing workforce wellness. This requires looking past the traditional methods for health benefits to find innovative solutions.
Whether it's looking into self-funded options to control costs and ensure high-quality health plans for their employees, or managing pharmaceutical benefits by having open conversations with brokers, employers are exploring new ways to optimize engagement by their workforce.
Read on for a comprehensive guide to aligning your healthcare benefits with employees' needs: 2024 health benefits strategies: A guide to reducing costs while supporting employee well-being
