Orriant Chief: CEOs with rising healthcare costs have options
Orriant, a wellness company based in Sandy, Utah, with a presence in all 50 states, has made it clear to CEOs everywhere that the usefulness of corporate health and wellness programs can solve the variety of issues associated with high healthcare costs.
A leader in the health industry, Orriant was recently featured in Forbes magazine where its chief, Darrell Moon, chastised the nation’s CEOs on not taking the proper steps in lowering rising healthcare costs which is now the third biggest expenditure for businesses nationwide after wages and benefits.
“If CEOs bought supplies the way they buy health care, they’d lose their jobs,” Moon said. “They buy health plans through vendors who have no incentive to lower costs. And then they give it to employees who have no incentive to get healthier and reduce claim costs to the company. It’s nuts!”
Employers have options when it comes to implementing corporate health and wellness programs to lower healthcare costs including providing incentive-based offers to motivate employee adoption of exercise and other healthy lifestyle choices in losing weight and ceasing other unhealthy activities.
Moon added the majority of employers purchase their health insurance coverage through brokers that reap the benefits when the company pays more in premiums. However, companies can save money if they provide bonus-based incentives to brokers who lower their insurance costs. So, incentives placed on internal and external factors could be an effective way to lowering healthcare costs as much as possible.
Meanwhile, Plus 3, a “health meets philanthropy” social network, and MedeAnalytics, provider of performance management solutions across the healthcare system, recently announced a new collaborative partnership with the goal to produce an innovative health and wellness solution that includes payers, providers, employers and employees as well as their dependents.
“Plus 3 is the best employee wellness environment I’ve seen,” said Adam Cox, director of wellness for Hefferman Insurance Brokers. “It’s outside the corporate ‘intranet’ which helps individuals feel more at ease, involve friends and family, thus more willing to participate. We will be baking Plus 3 into every wellness package we provide our clients.”
Dan West, product marketing manager at MedeAnalytics, added the integration of key stakeholders to create a wellness solution that is not only sustainable but will help employers reach their employees on the importance of reducing healthcare costs.