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Wolf's presentation, entitled "Measuring and Communicating the Value of Wellness," is scheduled for Tuesday, April 20 from 10:15 a.m. to 11:45 a.m. at the SALGBA conference in Indianapolis. Alere is recognized as one of the nation's leading providers of health and wellness programs, and through the Alere Center for Health Intelligence, it has conducted and published numerous employer and health plan-based research studies on the value of health and wellness programs.
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Highlights will include a description of several factors critical to successful outcomes and methods for reporting the value of program investment, including the importance of recognizing employees as human capital investment and the need for company executives to become champions of creating "cultures of health."
"We know that one of the most important factors contributing to the success of wellness programs is executive and middle management's commitment to creating a culture of health throughout the organization," said Wolf. "Health and wellness programs work - they save money and improve the health of employees. But for optimal results, management throughout the organization has to be involved, supportive and serve as an example to the entire workforce population."
With regard to cost savings, Wolf will highlight that a number of recent studies are beginning to give employers the value proposition that builds an economic case for wellness programs. Recent studies have shown that medical costs fall by about $3.27 for every dollar spent on wellness programs.(1)
While recognizing that employers focus on specific costs for pharmacy and medical benefits, Alere's research also shows the importance of understanding the full cost of poor health on employer costs. Alere has shown that an employee with $3,376 in medical and pharmacy costs actually costs an employer $10,128 in health-related productivity costs, including absenteeism (e.g., short- and long-term disability) and presenteeism (turnover, administrative costs, poor workmanship, etc.)(2). Research also shows that the more illnesses an employee has, the higher their lost-productivity costs(3).
"If we can change cycles by helping people become healthier, we can improve an organization's financial performance," said Wolf. "The key is developing programs that incentivize all employees to participate and that reward employees not only for the end results, but for their overall effort to improve their health."
Other key topics to be presented in the presentation will include:
For additional information on topics related to health, please email [email protected].
About Alere
Alere (www.alere.com) is a wholly-owned subsidiary of Inverness Medical Innovations, Inc. (www.invernessmedical.com) (NYSE: IMA). Alere, a Latin verb, meaning "to care for" or "to support", offers the most patient-centered health management services available from a single provider in the industry. Alere services provide health interventions that are designed for the entire lifespan from pre-cradle (high-risk pregnancy and NICU management) to end-of-life care (complex care) as well as the continuum of health from wellness (health and productivity programs) and prevention to total health management of the individual for those having various chronic illnesses.
© 2010 Inverness Medical. All rights reserved. Alere is a trademark of the Inverness Medical group of companies.
(1) Health Affairs 2010. 29:2
(2) JOEM, 2003; 45:349-359
(3) JOEM, 2009; 51:411-428
-- The wellness "value chain" and how it leads to risk reduction -- Using wellness programs to increase job satisfaction and decrease turnover -- The role of wellness programs in improving customer satisfaction -- The importance of a comprehensive and integrated benefit strategy, including design, absence and disability management, wellness programs and incentives
SOURCE Alere
