• EPIC: Corporate Synergies’ Lifestyle Management Tool
Hi, I’m Gary Cassidy and welcome to another edition of the WellnessMINUTE. Today, we continue a series dissecting a case study to help provide you perspective, and possibly realign expectations, on what you can reasonably expect to see and uncover from your first two to three years of a participation-based health & wellness strategy.
As the company in this case study was self-insured they were able to get access to all of their claims and pharmacy data. And, working through their wellness partner, were able to combine that information with the metrics compiled from biometric and health assessment results to see an aggregate, measureable hard dollar Return on Investment by year three.
From a hard dollar point-of-view, let’s take a look at how this case study’s risk stratification translated into increased medical costs:
- Low risk participants (0-2 risk factors): $0 additional dollars
- Medium risk participants (3-4 risk factors): $2,027 additional dollars
- High risk participants (5+ risk factors): $8,197 additional dollars
It’s important to understand that the base cost (0-2 health risks) is defined as the average cost for participants which is $4,536.
The percentage of excess costs is estimated to be 17%, or $1.3M, of this company’s total annual benefits spend.
In its inception, wellness programs were challenged with showing measurable results; however, over the past 10+ years, more reports are becoming available that reinforce the success and importance of implementing a broad-based wellness strategy. Regardless of where you are in your wellness journey, the successes of other programs can help guide and inform your own wellness initiatives.
For more information on this and other health & wellness topics, visit our Knowledge Center at corpsyn.com. Thank you.