Keeping your employees healthy may already be a core objective for your company, but did you know that there are also some productivity and financial benefits? Generally, the healthier and happier employees are, the better they can do their job. But why is this?
Well, it all boils down to absenteeism and presenteeism. Absenteeism is when employees miss work due to ill health, whereas presenteeism occurs when employees are ill but still attend work. These issues are not an employer's desired outcome, and there are some significant reasons why. Healthier employees are not only at work more, but they are better able to focus on their work, leading to increased productivity.
A study showed that the cost to the UK economy of lost output among people due to poor health is around $180 billion annually, about seven percent of Gross Domestic Product (GDP). Productivity is the most significant cost; in fact, it’s almost twice as costly as the other expenses combined.
Healthcare costs are also expensive; only some things are covered under most packages. Employees and employers often feel gaps in the modern healthcare system in areas such as weight loss and allergy treatments. Next, we will explore different ways companies can work towards lowering their healthcare costs. Later, we will dive into how My Root Cause RX can help cover some of these gaps in traditional healthcare.
A more considerable upfront investment in employee health may be cheaper in the long run. In fact, employees with more risk factors, including being overweight, smoking, and diabetes, actually cost significantly more to insure compared to people with fewer health concerns.
Workplace Health Programs are comprehensive strategies to maintain employee health through knowledge, skills, and behaviors. Companies with robust workplace health programs often address most of their employees' health needs while making them feel valued. Examples of these programs include programs for quitting smoking, preventative services, and wellness competitions. These programs not only keep employees healthy but also boost morale and general office productivity, which in turn helps to save costs over time.
From an employee satisfaction perspective, the best companies use workforce data to inform their healthcare decisions. They use general workforce data and surveys of their employees to determine if specific strategies are working and benefiting their employees. Fifty-three percent of the best-performing firms and only 34 percent of others use data to analyze benefit results. These businesses may conduct multiyear evaluations of employee feedback and claims data to determine if their decisions positively impact their employees.
Often, large providers offer health insurance that doesn’t cover all employee health-related needs. There are noticeable gaps in areas such as weight loss, chronic pain, and allergies. While often overlooked, these issues can significantly impact a company's bottom line. Finding a targeted benefit package can help bridge these gaps in your coverage.
My Root Cause RX can help provide the care missing in your company's healthcare plan. We offer services for weight loss, chronic pain, and allergies. Our medications are purchased in bulk, so we pass the savings on to you and your employees. Additionally, we don't have any enrollment fees or other associated costs, so we can provide your employees with 100 percent free medical consultations. The medications are directly accessed through us and are covered by all HSA and FSA plans.
With no enrollment period, you can start with us right away. Registering your company takes five minutes, and we will create a custom landing page for your employees in 48 hours. Best of all, your employees won’t need to miss work for doctor appointments, and their medications will be shipped directly to them.
If you want to register your company or learn more, contact us below. We are excited to see how we can help your employees live healthier, more productive lives!
