CORPORATE WELLNESS EXAM
Corporate Wellness Exam
The Wellness Firm was created during the pandemic by fireman who wanted to make a difference. As the pandemic wore on, we saw that the creation of an employee wellness program could improve public health in the workplace. For this reason, The Wellness Firm added annual corporate health and wellness assessments to our portfolio.Healthcare expenditures are rising exponentially within the United States. According to the Centers for Medicare and Medicaid Services, national healthcare spending comprised a shocking almost 20% GDP in 2021.
Since the 60’s, total health expenditures have increased at a significantly faster pace than the economy. One must wonder: What is the culprit? Approximately 75% of healthcare expenditures are spent on the treatment of chronic diseases. This percentage comes as no shock given that over 100 million Americans presently live with at least one chronic disease. However, disease does not only take a toll on individuals and their families; the burden of disease on employers is financially significant as well.
Employers now spend, on average, at least $18,000 per employee per year on costs directly related to illness and the impact of illness on worker productivity. Poor employee health is anticipated to cost the national economy at least $260 billion each year in lost productivity. Many US employers do offer some type of employee wellness services however, programs can be quite basic, and a recent survey released by the International Foundation of Employee Benefit Plans revealed that 30% of American employers currently do not offer any type of employee wellness programs.
Others that do offer wellness initiatives lack a physical examination component. Even though there is a cost associated with implementing a new program, physical examinations have a measurable, positive return on investment on both your employees ’health and your company’s financial statements through reduced health care costs, lower rates of absenteeism, and enhanced productivity and possibly lower insurance rates.
Let’s quickly look at the seven most common chronic Diseases
How does a corporate wellness
exam affect your business?
These well known diseases cost employers over 1 trillion dollars each year. Interestingly many of these diseases can be readily detected and addressed during their early stages via basic tests performed during a typical physical examination such as blood pressure monitoring, complete blood panels, pulmonology testing and urinalysis. Early detection saves money!
By providing employee wellness programs that include event specific physicals, many nationwide employers have decreased their employee health care cost burden by $1 – $3 for every dollar spent. Studies have shown that wellness programs including annual physical exams, have reduced employers ’health costs by over 25%.
Employee productivity is a primary concern for all the employers and The Wellness Firm are here to help. Across the globe, organizations are reacting to employee presenteeism by developing worksite clinics and offering wellness programs with annual physicals to their employees. Now, will you add a wellness component with well health screening for your employees with The Wellness Firm?