By: Gowtham Raj Viswananthan Ranjit Kovilinkal Hygeia e-Services Pvt Ltd | PRIVATE PROPRIETARY. Contains private and/or proprietary information. May not be used or disclosed outside, except pursuant to a written Agreement. Health & Productivity Linking Health & Productivity @ the workplace @myHealthvalet
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By:
Gowtham Raj Viswananthan
Ranjit Kovilinkal
Hygeia e-Services Pvt Ltd | PRIVATE PROPRIETARY. Contains private and/or proprietary information. May not
be used or disclosed outside, except pursuant to a written Agreement.
Introduction The growing prevalence of non-communicable diseases like cancer, heart disease and diabetes is on the rise, growing at an alarming rate year after year. Developed and developing countries alike are struggling to cope with the high cost of these diseases, in terms of lost lives, lost productivity, infrastructure financing and the human capital required to treat them.
In the past 20 years,
information technology
has revolutionized virtually
every facet of our lives.
Organizations of all types
have long seen that
information technology—
viewed comprehensively
and deployed effectively—
can replace old challenges
with new possibilities.
However, one of the areas
of slow evolution is our
healthcare system. Rising
incomes in developing
countries are propelling
rapid growth of demand
for health goods and
services, while disruptive
technologies and
innovations are creating
new ways of meeting this
demand. All these present
a huge challenge to
employers on
understanding how
employee health is
affecting productivity and
raising costs like never
before.
Statistics @ the Workplace As per the Wills Health &
Survey Report, 2014
61% identified
employees’ health
habits as the primary
challenge in controlling
health care costs.
93% believe that
healthier employees
are more productive,
yet very few are
measuring the impact
of productivity on
employees’
absenteeism and
presenteeism (when
employees are at work
but preoccupied with a
health issue and not
performing their best).
On average, it costs
employers more to
insure unhealthy
employees. Patients
with chronic
conditions, account for
75 percent of health
care costs each year.
Absenteeism and
presenteeism cut
individual productivity
by as much as 1/3rd
and cost organizations
$2 to $3 for every $1 of
direct medical costs
such as health care
premiums or pharmacy
expenditures.
The business case for Health digitization Companies will immensely benefit from heath digitization of the employee. They can negotiate lower premiums for a healthier employee population. Others will pay less as a share of employee health expenditures. All companies will benefit from reduced employee absenteeism and lost productivity associated with poor health.
As per organizations like Johnson and Johnson, every USD 1 invested in employee health care results in a USD 4 reduction in health care costs, lower absenteeism and improved productivity. And let’s not pass up an opportunity to let Harvard weigh in. Its recent study showed that for every dollar invested in health and wellness programs, large companies got back $3.27 in reduced healthcare costs, and $2.73 in costs connected to absenteeism. Companies need to expand their scope to address the longer-term effects that chronic illnesses and poor health have on employee productivity and healthcare costs. This focus on keeping employees well includes
preventive care and disease-management care for chronic conditions such as cardiovascular disease, diabetes and obesity. Caring for ill spouses and children can also tax an employee’s time, Hence the family too needs to be taken into consideration. By seamlessly integrating the company’s doctors, labs and pharmacies, a healthcare hyper loop is created with the employee at the center of the ecosystem, thereby providing the convenience, reach and access to avail health care services and information in real time. Through making
healthcare digital,
employers can integrate
their Health Assessments
for new joinees and
annual health checkups of
their employees to create
a health rooster, thereby
enabling the conception of
customized health
programs, rather than
having general health
camps and other programs
which are a waste of
resources and time.
Once a culture of health is
created within the
organization, employees
can be motivated to take
good care of their health
and engage in prevention
measures for themselves
and their families.
As per Harvard University,
every $ invested in health
programs got back $ 3.27
in health care costs and
$2.73 in absenteeism costs
myHealthvalet…
Towards a Healthier U! The business case for expanding employee healthcare services is evident as stated above, but the technology infrastructure required to support that move hasn’t been as easy to find. Relying on last-generation, “safety first” systems, employers are bogged down developing a complex series of workarounds to manage today’s demands for health digitization.
It’s a ridiculous waste, and totally unnecessary. Our Enterprise Health solution,
myHealthvalet is designed, developed and built to support today’s employee health management model with a single, web-based system that includes a clinical EHR, and employee engagement tools. The system integrates seamlessly with health care service providers like doctors, hospitals, labs and pharmacies to consolidate information from across the health care community.
myHealthvalet’s health risk assessments engage employees to understand and improve their health behaviors. After completing a health risk assessment employees receive a confidential report focusing on their personal health risk factors. Each report includes customized suggestions on what he/she can do to improve his/her health - and reduce health risks. He or she will also receive an overall wellness score based on the number of positive health indicators found in the assessment. By reducing
employee health risks, absenteeism and health care costs are minimized. The health risk assessment is the first step to improving the health culture in the workplace. By making changes to their daily habits, employees can improve their long-term health and wellness.