With health care costs on the rise, it’s so important to keep your employees healthy. A corporate wellness program helps keep employees productive, lowers health care costs for an organization and reduces sick days and workers’ compensation claims. AgeFocus can help employees of an organization take a more active role in their health, and track their results.
Here is a brief overview of the many benefits of implementing a Corporate Wellness Program:
• Comprehensive scientific reviews identified 378 peer-reviewed research studies showing that Corporate Wellness Programs improve health knowledge, health behaviors and underlying health conditions.
• Research studies have demonstrated that lifestyle modification may often be more effective and cost-effective than medical intervention in lowering morbidity and mortality.
• Several scientific reviews indicate that Corporate Wellness Programs reduce medical costs and rates of absenteeism and produce a positive return on investment.
• The most definitive review of financial impact reported that 18 research studies indicated that these Corporate Wellness Programs reduce medical costs, and 14 research studies indicated that they lower rates of absenteeism costs.
• Thirteen research studies that calculated benefit/cost ratios all showed the savings from these Corporate Wellness Programs are much greater than their cost, with medical cost savings averaging $3.48 and the rates of absenteeism savings averaging $5.82 per dollar invested in the Corporate Wellness Programs.
• Medical costs are expected to exceed 16% of United States gross domestic product (GDP) in 2005 and to grow at 7.2 percent annually through 2015, when medical expenditures will account for 20% of GDP.
• Per capita medical costs in the United States are the highest in the world and more than double the median for OECD countries, yet the United States ranks 26th in terms of healthy life expectancy.
• Medicaid is the second largest item in the majority of state budgets, and its portion of the total budgets is increasing annually.
• Rising medical costs for United States employers continue to outpace general inflation, averaging 12 percent per year for the past 10 years. This trend is causing a tremendous financial hardship on United States employers.