Corporate healthcare costs are rising. Companies are straining to support chronically ill employees. To reduce those expenses, employers are encouraging participation in wellness programs using incentives like annual cash bonuses averaging nearly $700.
Adopting a low-cost solution means lower insurances premiums along with a healthier, more productive, and more present workforce.
OF CORPORATE HEALTHCARE COSTS
Save by understanding how you perform as individuals and groups
Accurately stratifying employee groups has shown to reduce healthcare costs, improve participation numbers in wellness programs, identify target candidates for specific health initiatives, and quantify program success over time.
Stel’s devices provide effortless, continuous monitoring for population health management. A passive vitals system creates an accurate data pipeline, ultimately giving a complete picture of an individual's health status. Reliable and more frequent checks facilitate personalized coaching and content. Alert thresholds and continued learning can assist with quicker and easier intervention.
Organizations can reduce expenses by improving how they evaluate their employee's health. One of the most common ways to assess an individual's status today are Health Risk Assessments (HRAs), which rely on questionnaires and sporadic vitals data. Employee incentive programs like cash bonuses are proving redundant and costly to corporations.
Without proper instrumentation, employers will be limited in their ability to monitor chronic conditions, accurately assess employee risk, and reduce healthcare costs.
Equip your employees with tools to succeed
The employee benefits space has become increasingly fractured. The App Store approach of small, specialized programs is being viewed as counter-productive to a cohesive experience for employees.
Integration as a preferred design strategy isn't limited to smart homes. Uniformity of experience ensures employees aren't bogged down by poor usability or needing to grapple with single-use mobile applications across multiple devices.
With studies showing smart devices as effective engagement tools, employers must take a step further to guarantee their long-term value. Simplifying data collection from tools like fitness trackers and blood pressure monitors amplifies their role in wellness programs. Program success demands as few barriers possible and depends on high quality data.