How employers can meet demand for holistic health care benefits
As an employer, what are the next steps to propel health care and well-being benefits into the future?
Moving into 2021, there’s widespread acknowledgment that the workplace–and what employees expect from it–has changed forever. We can expect larger consumer-focused trends in health care, like telehealth and patient-centered care, to begin spilling over into employees’ benefits wish lists. As companies determine how to keep employees engaged during remote and hybrid ‘work from home’ models for the foreseeable future, the boundaries between work and home are increasingly blurred, and employees are looking to their employers for resources that go beyond traditional benefit offerings.
While COVID was a catalyst for telehealth, other major forces coming together will change how we consume health and wellness in the future. Offering virtual care has become a basic expectation, and may prove to be the easiest piece of this puzzle for employers to fulfill. Gen Z employees, as they enter the workforce, are also changing the dynamics of the health care system, and will be a game-changer for employers and benefit providers.
Related: Employees raise expectations for employer-paid benefits during pandemic
Benefits professionals need to be tuned into these changes moving forward. For the first time, mental wellness was defined as its very own ($121 billion) market. Meanwhile, younger workers are expressing that they want convenience beyond just virtual care, as they eye non-traditional care like retail clinics and digital engagement tools. Millennials and Gen Z are an empowered, resourceful generation, and that translates into taking control of their own health as well.
In our work with hundreds of health and wellness providers, as well as the consumers on our platform, we have come to see an increasing interest in 360o degree care and holistic wellness. Holistic wellness is not a buzzword: it’s the idea that mental, physical and spiritual health are all equally important elements of health care.
Providers are no longer just physicians. Younger employees have expanded past a physician-only approach and towards a digital-first attitude that focuses on convenience and preventative health. They incorporate health coaches, nutritionists, life coaches and counselors, creating a personalized array of individuals who can help with physical, mental, emotional and spiritual health.
Consumers have come to expect a personalized brand experience, and that extends to their continuum of care. As a benefits provider, understanding this shift in mentality is key in choosing the right products and services to remain a competitive employer–particularly as workers struggle with the physical and mental implications of a shift to remote work.
So, as an employer, what are the next steps to propel health care and well-being benefits into the future and ensure that what you are offering is targeted to what employees truly need? Let’s start with the needs that employees are already expressing. There are a few concrete steps companies can take now to better serve their workforce.
Add mental wellness resources to help employees cope with everyday challenges
Stress, fatigue and burnout have always been a concern for companies. Job stress costs American companies more than $300 billion a year in health costs, absenteeism and poor performance, and 40% of job turnover is due to stress. These issues have come front and center during the pandemic, affecting work, family and social life–which incidentally are colliding during the past year.
The pandemic has catapulted a culture shift that was already gaining momentum: both individuals and businesses are becoming aware that a holistic approach to health is needed to combat these issues. This approach can also have significant impacts on the bottom line. Aetna estimates that since instituting its mindfulness program, it has saved about $2,000 per employee in health care costs, and gained about $3,000 per employee in productivity. Beyond mindfulness, companies have long been funding initiatives in other approaches such as meditation, yoga, and even sleep to help mitigate the effects of stress.
But now, it’s time for employers to become even more proactive with mental wellness offerings. Seeking mental wellness is an active process, one that helps increase resilience, connect with others, flourish and function, according to the Global Wellness Institute. Successful employers will understand this process, recognize the importance of mental wellness, and equip employees with the proper resources–and encouragement–to proactively engage with these benefits.
Fulfill the consumer need for convenience and virtual care
Transition to virtual care has accelerated in the past year, but it’s not the only element that employees are looking for when they think of convenience in health care. We are looking at younger workers who have grown up online and who view the world from their smartphone, accustomed to instant delivery, online ordering and conducting most of their business online. health care is no different. Millennials are more likely to use apps for scheduling, viewing medical records and paying bills, and more receptive to telehealth, than prior generations.
As employees expand their wellness programs, they must think critically about how they’re delivering programs as more Gen Z employees enter the workforce. Not only will the program offerings matter, but the technology infrastructure, ease of use, and accessibility will play a huge role in uptake.
Empower employees to take control of their own health
Advances in technology provide an incredible opportunity for individuals to increase their involvement in their own health care. They can track and monitor their health from apps, smartphones and wearables. They can order test kits online to get insight into genetic data, food sensitivities, hormones and other potential health issues. From these tests, they can find a wide range of coaches and interventions that allow them to take proactive steps to course correct, stay healthy, or just serve as a personal guide. They can even access compound pharmacies online and get personalized medicine shipped to their doors.
Virtual, patient-centric and customized health care is no longer “the future of health.” The demand for it–and the tools, technology, resources and practitioners to serve it–is here. The pandemic exacerbated the technology adoption and forced the majority of the market to embrace this new technology-first approach to care.
Patients have already begun using digital self-management tools, with 51% of Gen Z patients saying they use a wearable or digital app to help manage their health and 53% using virtual nurses to monitor health conditions, medications and other therapies. These tools are now staples for an employees’ day-to-day health and fitness and employers should embrace this shift and ensure their benefits products and service offerings incorporate them.
Provide flexible and innovative care options
Employers can differentiate with versatile and innovative self-care and wellness programs. Millennials and Gen Z spend more money on self-care and wellness than any other generation. Having a workforce that prioritizes their physical and mental health outcomes and self-care is great news, as preventative health efforts can significantly reduce long-term costs. Now, it’s up to employers to select innovative programs that provide individuals with choices on their interventions and type of care. Flexibility is key.
Employers who stay ahead of this shift and offer the benefits their employees are looking for will earn their loyalty, better handle disruptive forces and ensure a more cohesive, resilient workforce.
Riley Rees is the founder of Sofia Health, an online health and wellness marketplace that provides 360 degree, whole-person care services and products.
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