The cost of healthcare and healthcare spending continues to rise. In fact, “healthcare benefit costs are still rising at two times the rate of wage increases and three times general inflation, making this trend unaffordable and unsustainable over the long term,” according to a recent publication by the Society of Human Resource Management (SHRM). “The total cost of healthcare, including premiums and out-of-pocket costs for employees and dependents, is estimated to average $14,800 per employee in 2019, up from $14,099 this year.”
This is the bad news. The good news is employers are learning there are actionable steps they can take to reduce the rising costs of healthcare.
Employers Take Control of Healthcare Spending and Costs
At an increasing pace, U.S. employers are implementing different methods of providing quality care for their employees, without breaking the bank. “More than 77 percent of U.S. employers with 500 or more employees said helping these claimants manage their care effectively was important or very important.” Employee health benefits now enable employers to take control of their spending while providing supportive resources to improve workforce health.
A Convenient Solution to a Costly Trend
Worksite healthcare provides high-quality, convenient care directly at or near the worksite. In an effort to improve health and reduce healthcare costs, one third of U.S. employers with 5,000 or more employees have introduced this health benefit to their workforce. Providing individualized clinical care, health coaching, and health programming at the worksite helps employees identify health risks and supports overall health improvement.
Read more: Getting in front of high cost claims
With Marathon Health worksite healthcare solutions, employers experience a 25 percent reduction in healthcare claims for employees using their worksite health center. Even more pronounced is the 36 percent claims savings for patients with chronic conditions. At Marathon Health, we continually analyze healthcare claims data to ensure employers receive the value of their investment in worksite healthcare. Our focus on healthcare analytics provides insights on hard dollar claims savings as well as workforce health improvements to prove the effectiveness of your worksite health center.
Engaged vs. Non-Engaged
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