In 2018, the city estimated that it had reduced absenteeism by $430,360 and improved presenteeism by $171,910. The time saved by reducing travel time, wait time and other factors came to $229,760, and the savings from retaining employees (rather than having to recruit, hire and train new employees) added another $223,780 in savings. In all, the city estimates the total productivity savings to be more than $1 million.
At the same time, by redirecting primary and preventive care, the city was able to reduce utilization of higher-cost providers, specialists and laboratories, resulting in more than $1.3 million in additional savings.
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The key, of course, is that rather than passively offering health benefits like everyone else, the city became engaged in ensuring that its benefits were being used. That has been the key difference-maker.
By using data and analytics to discover the current state of utilization and match them against employee needs, employers can devise a whole-person approach to health and wellness that employees will love — and use.
About the author: Nicole Stec is senior well-being manager for Banner HealthBack to HCB News