optimity jan webinar - roi of wellness programs
TRANSCRIPT
ROI of Wellness Program:2016 statistics and
2017 cost-containment strategies
Expert: Jane WangCEO, Optimity
A Optimity Webinar
Sponsored by
Host: Trista ChanAdvisor, Wellness Strategies @myOptimity
Webinar Tips● Connect to audio using your computer’s microphone and speakers OR
Select “Use Telephone” after joining the webinar to turn on sound
● All guest lines are muted to avoid background noise
● Type in your questions in the tool and we will answer them in the Q&A period
● The slides and webinar recording will be sent out to you to share with others
● In the handout section there is a Willis Wellness Industry Trend report and Optimity Case Studies available as BONUS downloadable materials
About Optimity
The Optimity Digital Wellness Platform is used by organizational leaders to produce an ROI through holistic health support for their employees 24/7.
The digital platform is mobile-first and strategically targets high-cost issues to proactively coach employees on making better lifestyle choices, everyday.
[email protected] | 1-416-450-7585
Easier Management and Better Data
Our customers can run more initiatives, faster and easier, and coordinate multiple sites. The cohesive database allows them to be data-driven on their initiatives to adapt and drive outcomes
Reduced Benefits and Claims Costs
We have proven results in targeted wellness programs that reduce drug claims, absenteeism, STD/LTD. Clients are getting $1.50 to $6.50 back for every $1 spent on wellness.
● 7x previous year engagement● Improved employee health
during audit season● Reduced attrition ● Promoted PwC culture
● Saved 200 hours for HR in 2016● Ran 3x number of successful programs● 4x engagement prior to Optimity● 25% improvement from previous year
engagement on Optimity
● Drug costs went from 20.3% YoY increase change to 7.4% YoY
● Reduction of absenteeism● $1.80 back for every $1 spent● 6x previous year engagement
Control drug claims, benefits costs, and boost engagement
RESULTS AND CASE STUDIES
● Jane: Wellness ROI and Industry trends
○ Top ROI challenges and HR technology trends
○ Best practices on effective wellness programs - Industry benchmarks and statistics 2016
○ Expected ROIs for different types of initiatives
○ 2017 checklist to of cost-containment strategies for management
● Trista: Optimity Digital Wellness Implementation Strategies
○ 4 Tips on getting the highest participation, and strongest returns for every $
● Q&A
Agenda
About Trista Chan & Jane Wang
Trista is an Advisor for Corporate Wellness Strategies at Optimity. Her background is nutrition and health promotion programs. She works with clients to customize wellness programs for targeted health support and to drive better outcomes.
Jane is the CEO of Optimity. Her background in global clinical trial management and proactive disease flagging provides the backbone for the cutting-edge disease prevention IP of the Optimity system.
1. Takeaways from the Best Practices in achieving ROI from wellness● Definition and Facts on ROI calculations● 2016 Case sample and ROI calculations ● Why this is important● How to get to started - Checklist to achieve ROI
2. Employee Wellness Digital PlatformOptimity allows HR managers to leverage cutting-edge technology to run customized, engaging and adaptive employee programs from one hub.
● Digital solutions and best practices● Holistic health can be scalable and engaging● Use data to support progress
Healthy Workplace Strategies: Summary
HR’s Top Challenges and Opportunities
• 60% hold HR accountable for business results
• “technology is making data-driven HR decision making possible”
• HR is strategic for cost-containment and organizational success
Wellness’ Top TrendsDigital coaching model • Mobile-first • Wearable and app syncing• Personalized content delivery• Holistic health content
Data analytics• Wellness engagement gets “big data
treatment” so C-level sponsors can easily identify the best programs to return real results >> outcomes focus
$1,100,000,000Milken Institute, CA, USA
EMPLOYEE HEALTH COST
● Drug claims
● Benefits Utilization
● Stress & sick leave, short-term disability, long-term disability
● Absenteeism
● Turnover
● Tracked ROI for Current Wellness Initiatives
Why a Strategic Focus on Outcomes
Traditional Wellness Programs
Disease Management
Programs
77% PARTICIPATION
Employee Participation
POCKET HEALTH COACH
ADMIN CONTROL
Easier, Centralized Management
OPTIMITY HELPS COMPANIES THROUGH★
★
★
Building a Solid Business Case - Large Enterprise
5-Year Investment - 2500 employees● Flex Benefits Plan● Employee Health Review● Chronic Disease Mgmt● Disability Mgmt.● Incentives● Mental Health Support● Online / Mobile Wellness Platform● Strong Communication Plan● Executive Dashboard
Hard Savings● Program design cost● Admin and operational costs● Number of disability claims
and duration● Drug and medical consumption
Soft Savings● Absenteeism● Turnover● Cost and time in recruiting● Productivity
$3.2 M
$13.8 M
ROI: 4.3
Building a Solid Business Case - Mid-sized
2-Year Investment - 860 employees● Comprehensive Online/ Mobile Wellness Platform
○ Incentives○ Employee Health Self Assessment ○ Holistic Health Support○ Chronic Disease Mgmt○ Disability Mgmt.
● Targeted Cultural Intiatives (reduce absenteeism and turnover)● Strong Communication Plan● Executive Dashboard
Hard Savings● Drug and medical
consumption● Program design cost● Admin and operational costs● Number of disability claims
and duration
Soft Savings● Turnover● Absenteeism● Cost and time in recruiting● Productivity
$150 K
$980 K
ROI: 6.5
Building a Solid Business Case - Small Employer
1-Year Investment - 110 employees● Employee Health Review● Chronic Disease Mgmt● Disability Mgmt.● Incentives● Mental Health Support● Online Wellness Platform● Strong Communication Plan● Executive Dashboard
Hard Savings● Program design cost● Admin and operational costs● Number of disability claims
and duration● Drug and medical consumption
Soft Savings● Absenteeism● Turnover● Cost and time in recruiting● Productivity
$15 K
$31 K
ROI: 2.1
““ Year -1 ROI: 1.81
More Results From Partners
● 21% reduction in absenteeism over 3 years, 66% reduction in grievances - Homewood Health
● 10.66 to 6.55 days reduction in absenteeism, 7% reduction in healthcare costs - Michael Garron Hospital
● 30% reduction in sick leave - Upper Canada District School Board● 9 % increase in engagement, 12% above industry average for
employee engagement (Ontario Hospital Association) - North York General Hospital
Checklist to Get ROI
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Optimity provides gamified wellness solutions to companies that achieve ROI in employee health through easy and scalable
implementation of best practices in wellness.
● Multiple demands ● Hard to coordinate● New requirements● High employee to
HR ratio● Metrics driven &
data analytics
Employee Healthy Activities
Healthy Workplace
Fully-integrated Ecosystem
Devices & Health apps
Centralized Admin Dashboard
& Database
Connected Wearables
Customized Mobile Experience
Retargeting for Highest Cost
Issues
● Recruit champions across the organization● Build leadership culture within staff● Decentralize effort, but centralize coordination and results
● Bring-your-own-device● Right information at right time● Decrease clutter: reduce emails with push notifications
● Capture attention of the busy● Boost likelihood of employee engagement● Micro-habits lead to macro-results
● Get metrics● Leverage subject experts’ support● Improve and customize your offering over time
1. Takeaways from the Best Practices in achieving ROI from wellness● Definition and facts on ROI calculations● 2016 case sample and ROI calculations ● Why this is important● How to get to started - Checklist to achieve ROI
2. Employee Wellness Digital PlatformOptimity allows HR managers to leverage cutting-edge technology to run customized, engaging and adaptive employee programs from one hub.
● Digital solutions and best practices● Holistic health can be scalable and engaging● Use data to support progress
Healthy Workplace Strategies: Summary
Learn more about employee health strategiesand ROI for wellness:
Trista [email protected]
www.myoptimity.com/roi
Jan Promotion: Get a free historical claims assessment with Optimity
