Employee Benefits with Big Data and Technologyassets.humanresourcesonline.net/conferences/2017/EHi/CXA_CeciliaDeasy.pdf · Health Engage Individual Prove ROI. 6. Insights & Feedback
Post on 26-Mar-2020
0 Views
Preview:
Transcript
Transforming
Employee Benefits
with Big Data and
Technology
6th October 2017
Employee Healthcare Interactive
© 2017 CXA Group Pte. Limited | All Rights Reserved
2
© 2017 CXA Group Pte. Limited | All Rights Reserved
Employee Only $180
Employee + Spouse $360
Employee + Child(ren) $255
Family $445
3
Current Employee Benefits Value Chain
© 2017 CXA Group Pte. Limited | All Rights Reserved
HRA
Employees
Screening
Wellness
Clinics
Brokers
Insurer
Employer
4
Redefining the Value Chain
5
End to End Solution
Transaction to Value
Treatment to Prevention
One Size Fits all to Individual
I Believe to I Know
Transform
Services
Improve
Health
Engage
Individual
Prove
ROI
6
Insights &
Feedback
Assessment
& Health Risk
Personalized
Marketplace
Corporate
WellnessIncrease EmployeeAwareness & Engagement
Annual
Cycle
7
Insurance Assessment
Simple
questions to
understand
employees’
insurance
needs
8
Instant Feedback & Suggestions
9
Upload Health Screening
10
Personalized Marketplace
Suggested insurance and
wellness products or services
Shop using remaining wallet (cashless
to employees) or credit cards
11
Corporate Wellness Programs
Use data to target those who
need wellness
We will consolidate program participation and vendor invoices
12
One-stop Administration
13
Solving Pain Points Using Technology
✓Increase Employee Engagement
✓Reduce HR Workload
14
Algorithm
Data
Warehouse
Workforce Segmentation
Valuable Insights
ROI Measurement
Predictive Modeling
Wearable/Med Devices
Health Risk Assessment
Medical Claims
Health Screening
Wellness Participation
Portal
Data Analytics
Absence Data
Engagement
15
Workforce Segmentation
21% Low Risk
6% Cost
56% Moderate Risk
46% Cost
23% High Risk
48% Cost
Clear Correlation Between Risk And Cost
16
Valuable Insights
87%Chronically Ill
>80%Inpatient Cost
>5XConsultation Visits
50%Diabetes
43%Depression
52%Sleep Deprived
23% EE
48% Cost
High Risk
17
Valuable Insights
82%
16%
2%
0% 20% 40% 60% 80% 100%
Wellness Participation
2
6
25
0 5 10 15 20 25 30
Sick Days
70%
80%
85%
0% 20% 40% 60% 80% 100%
Drug $ as % per visit
25%
20%
35%
0% 10% 20% 30% 40%
Specialist Referral
Cost Drivers and Tangible Solutions
18
Key Cost Drivers
Prescription Drug Cost
Specialist Referral
Chronic Disease
Virtual Clinic
Remove
Personal Health
Tangible Solutions
19
Predictive Modeling
Current 2018 2019 2020 2021 2022
Total 5 Year Savings: 700K to 1.5M (10% to 20%)
1.0
1.61
1.39
1.19
1.26
Current
Virtual Clinic
Specialist Referral
Personal Health
ROI Measurement
20
Ability to measure
• Cost, engagement
& risk improvement
• Each program
effectiveness
• Return on
investment
• Same population
cohort
21
In Closing
Data InsightsTechnology +
MEASURABLE
RESULTS
Targeted and Real
Solutions
T +65 6659 8082
E info@cxagroup.com
W cxagroup.com
401 Commonwealth Drive,
#05-03/05 Haw Par Technocentre,
Singapore 149598
Reg. No. 201303355E
CXA Group Pte. LimitedFollow us on
@CXAGroup
Facebook.com/CXAGroup
Linkedin.com/company/CXAGroup
Thank you!
top related