Tips a Fortune 500 Company Used to Cut Healthcare

A fortune 500 client (who will remain anonymous) is a global manufacturer and marketer of high-quality foods and simple meals including soup, baked snacks, and healthy beverages. This company employs over 8000 workers and provides employee benefits. This company, like many other employers was struggling with healthcare costs and related medical quality issues linked to employee lifestyle. Many employees have recently been diagnosed with high cholesterol and blood pressure. Many of these diagnoses have been linked to obesity.

Business Challenges
The challenge this company is facing is that three percent of the employee population drove over 50% of healthcare costs. A key strategic decision was made to actively involve consumers through their medical decision making process.

A Strategic Approach
The challenge of informing employees about their medical decision making has now been outlined. A strategic approach is to be initiated to reach these goals. The following tips outline was used in consideration when approaching the goal.

• Employees must trust the source in order to be successful.
• Target the top 21 expensive and complicated conditions, mostly heart disease related.
• Employees must have access to medical products and research information specific to their diagnosis.
• Phone and internet service that provides comprehensive decision support.

* These tips were formulated for this company however they can be used for all companies looking to save money in health care costs.

Health Care Saving Conclusion
After initiating these tips for a successful strategic approach, this fortune 500 client was able to achieve a $3:1 ROI in healthcare costs saving. This fortune 500 company also saw that 88% of its employees became more involved in decision making, 76% improved communication with doctors, 85% improved peace of mind as a result of the new information gathered. Finally and most importantly, 93% of employees indicated that requesting this information saved them time in researching their illness.