Practical Strategies For Implementing A Wellness Plan

319 views

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
319
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
0
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide
  • April 16, 2008
    Powell Goldstein LLP -- Annual Employment Law Program
  • April 16, 2008
  • Practical Strategies For Implementing A Wellness Plan

    1. 1. Practical Strategies for Implementing a Wellness Plan
    2. 2. • Wellness: why all the buzz? – Get the picture: • Annual healthcare 39% over average • Prescriptions 105% over average • $300/employee/year more • $39M annually in lost work hours
    3. 3. • How much could it really improve? – Prudential: • Disability days lower by 20%; per capita down 32% • Medical costs 42% lower – Providence General Medical Center: • Workers’ comp down 83% • Other savings in sick leave and healthcare costs – HHS: $3.11 median savings for every wellness dollar
    4. 4. • What is a wellness plan… – The Wellness Tripod: • Education • Application, daily habits • Incentive/benefit integration/measurement • …and what is not? – Short resources (knowledge, time) – Piecemeal efforts (lack of follow-through and measurement)
    5. 5. • Challenges: – Cost – Fluff – Privacy
    6. 6. • Squash “fluff” – Healthier populations more productive – Non-work time • Protect against privacy invasion – Compliant plan, provider – Outsourcing to third party
    7. 7. • Justifying the investment – Healthcare savings take time (~2+ cycles) • Chronic-illness claims, maintenance Rx, workers’ comp and disability can be expected to drop – Interim leverage: • Recruitment, retention • Corporate citizenship • Teambuilding • Productivity • Corporate message
    8. 8. • Brass tacks: – Initial budgeting challenges • Component adjustment • Payment over time • Employee investment-share – How much? • Desired outcome dictates investment
    9. 9. • Long-range offsets – Recruitment, turnover costs – Productivity measurements (www.shrm.org) – Marketing/PR payoff – Purchasing power • Set short-term goals to indicate progress – Participation – Feedback, mood, morale – Benchmark today
    10. 10. • Choosing a provider – Certification, safety, insurance – Compliance (HIPAA, ADA, etc.) – Measurement and reporting – Flexibility, midstream adjustment – One-stop shop
    11. 11. Practical Strategies for Implementing a Wellness Program

    ×