Wellness Programs Reduce Healthcare Costs and Improve Productivity
Integrating Workforce Health and Employee Benefits is the focus for this years IBI Forum.
Portland, ME, February 14, 2016 --(PR.com)-- ClaimVantage is attending the Annual IBI forum, which takes place in the Westin St. Francis, San Francisco on February 15th through 17th. This year’s forum focuses on expanding the value proposition for Workforce health: Connecting all the pieces. More than 430 employers, suppliers and thought leaders will gather to explore innovative solutions to the evolving issues in the Health, Wellness and Productivity space.
A recent DMEC article by Tom Garner, HRDive, suggested that the Affordable Care (ACA) has given employers a push towards preventing employee illness, through the introduction of wellness programs. Since introducing these initiatives, 60% of employers have experienced reduced healthcare costs, and 80% reported that these programs have indeed reduced absenteeism and improved productivity.
When employees need to take a leave of absence, these integrated benefits programs can help to get employees back to work more quickly. A Spring Consulting survey revealed that 59% of employers that have integrated their absence, and disability programs reported an increase in RTW rates. This reduces costs associated with absenteeism for employers, and can avoid employees being absent for longer than necessary.
Integrating wellness programs with employee benefits give employers and HR professionals an overall view of an employee at a glance. For example, if Bob is experiencing stress at work, he may avail of an employer paid stress-relief service, such as an on-site masseuse. Looking at Bobs file, HR may notice that Bob may be experiencing stress at work, based on his use of the service. As Bob is at risk of going out on leave, HR can intervene beforehand. And if Bob does go out on leave, they can also initiate an interactive process to get him back to work more quickly.
Integrated Disability and Absence Management programs offer significant benefits to both plan providers and plan sponsors. Carriers and TPA’s providing integrated benefit products differentiate themselves in a competitive market, offering a one stop shop for plan sponsors. An integrated offering can improve end-to-end claim management, offering additional return to work and wellness programs to compliment the claim management process.
Leo Corcoran, ClaimVantage CEO and Angie Brown, FMLA product manager will be attending the upcoming IBI Forum. Please contact them if you wish to meet and discuss integrated benefits over the course of the event.
About ClaimVantage
ClaimVantage provides Life, Health, and Absence claims management software products to Insurance carriers, TPA’s, and employers, including two of the top 3 carriers in Canada, and two of the top 10 carriers in the US. This automated solution, which supports both group and individual lines of business, can completely or partially overtake manual processing. The software has features aimed at improving the efficiency and accuracy of claims processing, including claim intake, assignment, eligibility, workflows, tasks, case management, correspondence, benefit calculations, and payments. For more information about ClaimVantage, visit www.claimvantage.com and follow us on Twitter @ClaimVantage.
About AbsenceDirect
AbsenceDirect is an easy-to-use, guided absence management solution that ensures regulatory compliance for Employers and Third-Party Administrators (TPA’s). The software incorporates Federal, State and Company specific leaves, including FMLA and ADA, which are continually updated on the cloud-based platform. Rather than simply tracking employee leaves of absence, AbsenceDirect allows you to manage your employee leave data. AbsenceDirect is a Software as a Service (SaaS) solution built on the Force.com platform, allowing flexibility to integrate with other HR solutions.
A recent DMEC article by Tom Garner, HRDive, suggested that the Affordable Care (ACA) has given employers a push towards preventing employee illness, through the introduction of wellness programs. Since introducing these initiatives, 60% of employers have experienced reduced healthcare costs, and 80% reported that these programs have indeed reduced absenteeism and improved productivity.
When employees need to take a leave of absence, these integrated benefits programs can help to get employees back to work more quickly. A Spring Consulting survey revealed that 59% of employers that have integrated their absence, and disability programs reported an increase in RTW rates. This reduces costs associated with absenteeism for employers, and can avoid employees being absent for longer than necessary.
Integrating wellness programs with employee benefits give employers and HR professionals an overall view of an employee at a glance. For example, if Bob is experiencing stress at work, he may avail of an employer paid stress-relief service, such as an on-site masseuse. Looking at Bobs file, HR may notice that Bob may be experiencing stress at work, based on his use of the service. As Bob is at risk of going out on leave, HR can intervene beforehand. And if Bob does go out on leave, they can also initiate an interactive process to get him back to work more quickly.
Integrated Disability and Absence Management programs offer significant benefits to both plan providers and plan sponsors. Carriers and TPA’s providing integrated benefit products differentiate themselves in a competitive market, offering a one stop shop for plan sponsors. An integrated offering can improve end-to-end claim management, offering additional return to work and wellness programs to compliment the claim management process.
Leo Corcoran, ClaimVantage CEO and Angie Brown, FMLA product manager will be attending the upcoming IBI Forum. Please contact them if you wish to meet and discuss integrated benefits over the course of the event.
About ClaimVantage
ClaimVantage provides Life, Health, and Absence claims management software products to Insurance carriers, TPA’s, and employers, including two of the top 3 carriers in Canada, and two of the top 10 carriers in the US. This automated solution, which supports both group and individual lines of business, can completely or partially overtake manual processing. The software has features aimed at improving the efficiency and accuracy of claims processing, including claim intake, assignment, eligibility, workflows, tasks, case management, correspondence, benefit calculations, and payments. For more information about ClaimVantage, visit www.claimvantage.com and follow us on Twitter @ClaimVantage.
About AbsenceDirect
AbsenceDirect is an easy-to-use, guided absence management solution that ensures regulatory compliance for Employers and Third-Party Administrators (TPA’s). The software incorporates Federal, State and Company specific leaves, including FMLA and ADA, which are continually updated on the cloud-based platform. Rather than simply tracking employee leaves of absence, AbsenceDirect allows you to manage your employee leave data. AbsenceDirect is a Software as a Service (SaaS) solution built on the Force.com platform, allowing flexibility to integrate with other HR solutions.
Contact
ClaimVantage
Sarah Courtney
207-221-0560
www.claimvantage.com
Sarah Courtney
207-221-0560
www.claimvantage.com
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