Wellvibe, as a browser based health management platform, is a member-centric platform. It delivers an infinitely adaptable, personalized experience. It charts a clear, incentivized strategy with real-time accountability and communication.
The starting line is the same for everybody: Biometric screenings, a health-risk assessment and regular preventive care, like flu shots and annual checkups. This is standard wellness. After that, health management kicks in.
Let’s look at two plan members, Linda and Lou.
Linda’s biometric screening reveals she is prediabetic and is on track to develop full-blown diabetes in the near future.
Linda is not alone — she represents about one-third of American workers, prediabetics who appear healthy today but will be tomorrow’s big claims.
So Linda is put on a clinically driven path to reverse her diabetes risk.
It might include activities to educate her or programs to modify her nutritional choices.
Lou is already diabetic; there’s no going back for him.
But going forward, Lou’s personalized strategy will help him better manage his condition and better utilize medical services when needed.
In other words, he is far less likely to end up in the hospital than a diabetic who doesn’t manage their condition.
And it’s not just diabetes. Our health management platform does the same thing for other risk factors, such as tobacco use, hypertension and obesity.
Identifying risk is the first step; management is the second step; and effective utilization is the third step.
The decisions plan members make have a tremendous impact on your claims costs, so it is essential they get the right information at the right time. Our platform includes cost-utilization tools, which can be accessed anytime: at work, at home, or on mobile devices.
So it’s easy for plan members to use, but that doesn’t mean they’ll use it. That’s where accountability comes into the picture. Incentives and consequences in the form of premium differentials are the way to drive engagement and hold people accountable.
Now let’s say you’re an employer. What will health management do for you?
Well, as the workers reduce their risks, the employer will realize a reduction in claims costs, and that’s money in your pocket. And reduced risk and lower claims history, when applied to your actuarial modeling, will give you greater leverage at renewal time.
In addition, healthier and engaged employees have reduced absenteeism and improved presenteeism, which means higher productivity.
When health management becomes part of your corporate culture — when it is embraced and practiced from the top down — it becomes an effective recruiting and retention tool, as well.
What about carriers? Health management work for them, too.
Health management gives carriers a competitive edge, delivering more value than the basic services offered by other carriers. And because health management is a longer journey that goes beyond annual renewals, client retention is improved.
Carriers also gain leverage for better contractual rates for services. Once risk is identified within a geographical population, carriers can align with the provider community. For example, carriers can specify that all diabetics from Group A go to Provider B.
So it’s not really a question of “whether” you should implement a health management plan if you’re serious about controlling health care costs; the question is “when. “
The upward trajectory of health-care spending is unsustainable. A significant amount of regulatory pressure is moving into the market, focused on employers, carriers and providers. The longer you wait, the higher your costs will climb.
It’s time to take control of your costs, and hold employees accountable for their choices. It’s time to get on the road to a healthier workforce, lower claims costs and sustainable results.
Questions or Comments?