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How employers can leverage workforce data to improve benefits offerings, reduce costs and help employees achieve better health outcomes.
Businesses are powered by the adept use of data. From distribution methods to market insights, we expect and rely on our data to make decisions that grow our impact. Yet, when it comes to optimizing benefits or managing claims cost, the data needed to make decisions is scarce.
Employers are realizing a solution that starts with uncovering the actionable healthcare data within their workforce – like medical procedure costs and future health risks. Just as you use data to measure effectiveness in other aspects of business, you can leverage insights about your workforce to thrive in the rapidly changing healthcare landscape and achieve the following goals:
No one organization is like another, so healthcare needs will differ accordingly. To retain valuable employees and reach your financial goals, you need a plan tailored to your unique workforce.
Good data can help you and your team identify benefits to attract and retain a competitive workforce, determine custom plan structure and offer additional benefits that drive the best health and financial returns.
It pays to build a plan around the needs of your workforce through identifying known and predicting future risk. Choosing a health plan and health plan administrator is a decision that can be based on and supported by your custom data.
Employers can also leverage data to identify additional benefits that drive the highest return. For instance, if your population has a higher prevalence of diabetes or heart disease, implementing a health coaching program with these specifics in mind. Knowing which health risks impact your workforce can help you and your team determine the best outreach protocols.
Data can also uncover barriers to care, for instance, a record of employees avoiding care until it becomes critical—and more expensive—because they lack a primary care doctor. Employers can then use this information to research onsite or near-site medical clinics.
Employers accept the broad use of discounts to protect against rising costs, but discounts don’t address the underlying cause of overcharging.
Prices for common procedures vary significantly, over 900% in one sample. But since this information isn’t readily available, it’s likely that your company and your employees are overpaying for care.
In general, our healthcare system isn’t set up for employees to be smart consumers. Data is hard to find and can be confusing, making it hard to use. But by combining transparent medical cost data with one-on-one concierge guidance, employees can make cost-saving care decisions.
Smart data helps employees receive the right care at the right time and for the right cost.
Predictive algorithms anticipate when employees will need additional care, enabling them to put in place programs that provide employees helpful guidance. For example, employers who partnered with Healthgram in 2017 avoided over $45 million in unnecessary spending by using data to steer employees to the appropriate level of care.
Just as group-level data informs business decisions, individual health data fuels meaningful, customized care for employees.
With health coaching and onsite medical clinics, employees can receive personalized action plans based on real-time lab data and a complete record of employee and family history. Such data can fuel smarter interventions and promote greater engagement.
Another example: data from wearable devices and smartphone apps syncs to Healthgram’s points-based incentive platform. The platform allows employees to sync their devices to earn points in wellness programs and employers to easily track engagement and participation.
Discover how to leverage your workforce’s data to improve care and lower costs with a custom demo of our health management solution.
The Thrive team is made up of journalists, executives, health coaches, advisors and other experts who take what we know and turn it into helpful guide for you to achieve your business goals. Have a question for us to tackle? Tweet it to us at @healthgram.
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