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Healthier employees are happier employees – and they can also help their employers save money. Population Health Management (PHM) programs can reduce the amount employers spend on coverage by motivating their employees to lead a healthy lifestyle.
A 2013 U.S. Department of Labor and Rand Health study found that more than 60 percent of companies claimed their wellness program “reduced health care cost, and around four-fifths reported that it decreased absenteeism and increased productivity.”
With PHM programs, brokers can help reduce what employers spend on coverage by motivating their employees to lead a healthier lifestyle.
Integrated technology can make PHM and wellness programs even more effective with features that automatically flag members at risk of developing catastrophic or chronic conditions. The program can then quickly adjust to help the individual get back on the path towards health and well-being and away from unnecessary doctor visits. Most PHMs, however, don’t offer these high-tech features, so partnering with the right one is key.
Great tech requires great service
Even great technology can underperform if it lacks attentive and knowledgeable client service. To that end, brokers should research vendors and demand dedicated, competent and flexible operations to save clients time, money and frustration.
Top 5 “must-haves” for great service from a tech vendor include:
- Avoids costly enrollment and implementation issues.
- Quickly corrects mistakes.
- Streamlines employee education.
- Personalizes and simplifies the enrollment experience.
- Creates tailored products and services to meet unique needs.
Studies continue to reflect that HR technology is a top priority among employers. Investment in HR management systems is growing exponentially, and organizations are frequently replacing older systems.[iii] Employers are searching for knowledgeable partners to guide them through the complex process of finding the best tech solution for their financial and organizational needs. This is an ideal scenario for brokers who can provide expert advice and contribute to the decision-making process.
Today’s brokers must fully understand the technology solutions available and their related cost savings in order to help clients make the most informed decision possible.To learn more, download Maestro Health’s comprehensive whitepaper on the ROI of benefits technology.