How your company can join others that saved millions of dollars in health care costs
DID YOU KNOW....
In 2010, we as a nation spent nearly $2.6 trillion on healthcare and it is predicted that by 2020 we will reach $4.6 trillion (CMMS). Over the last decade, employer-sponsored health care costs have increased 131%. Recent studies indicate that approximately 50% of corporate profits now go towards health care costs versus only 7% three decades ago. A 2009 study conducted by Dr. Ron Loeppke found that lost productivity costs due to presenteeism and absenteeism are 2.3 times higher than direct health costs.
According to Dr. Steven Hotze, the annual cost of lost productivity to employee fatigue is $136 billion. Dr. Hotze on presenteeism:
"Presenteeism, an employee who works at a lower productivity rate due to health reasons, results in an annual cost of $6,721 per employee. A common misconception among employers is that employees who are absent due to illness are a bigger threat when in fact presenteeism is 10 times as costly. Several studies have shown that the top contributors for presenteeism health conditions are anxiety, depression, migraines, diabetes, arthritis, and back and neck pain."
Employers are actively seeking new ways to reduce health care costs without jeopardizing their ability to attract and retain workers. These factors have prompted many organizations to actively promote health and wellness at the work site. According to a survey released by Buch Consultants in 2011, 74% of responding employers in North America said they now offer wellness programs, providing incentives to encourage healthier lifestyles among employees. As an example, Johnson & Johnson reported that it spends $4.5 million each year on its comprehensive preventive-healthcare programs, but it estimates that without these programs its medical bills would be at least $13 million higher.
ORGANIZATIONAL BENEFITS OF EMPLOYEE HEALTH EDUCATION
By providing education to employees specifically on how to improve eating habits, reduce stress, and increase healthy lifestyle activities like exercise, your organization will experience the following benefits:
Reduction in chronic disease - Up to 80%!
Decreased healthcare costs - One example sites a 2% reduction in the first year alone!
Increased employee morale
Enhanced workplace culture
Attract more talented employees and experience less turnover
EXAMPLES OF BENEFITS ACHIEVED
A study at NASA found that while the productivity of non-exercising employees decreased 50% during the final two hours of the workday; those who had an exercise plan in place worked at full efficiency all day. This represents a 12.5% higher overall productivity level in exercisers as compared to non-exercisers.
Studies at Dupont and General Mills, which implemented comprehensive wellness education and programming, found 14% to 19% reductions in absenteeism. General Electric report an astounding 45% decrease in absenteeism.
In a study from the Milbank Quarterly, one company that sponsored a corporate wellness program for 324 of its employees saved over $1 million and saw their participants' medical costs drop 40% over a three-year period.
YOUR FIRST SOLUTION? EMPLOYEE HEALTH & WELLNESS WORKSHOPS
Let our certified Health Coaches create a program perfect for your company and reduce your healthcare costs too!