It’s no secret: healthcare costs in the United States have been increasing for decades. With most employers handling health benefits for their employees, these rising costs can place an ever-growing burden on companies. Today, U.S. employers spend more on healthcare coverage than any other employee-related expense.
The Culprit Behind Rising Healthcare Costs
So what’s driving up your company’s healthcare costs? Chronic conditions are more preventable—and more costly—than other health problems. In fact, Americans with five or more chronic conditions account for 41 percent of total spending on healthcare but make up just 12 percent of the population.
Because about 60 percent of Americans report having at least one chronic condition and 42 percent report having more than one of these conditions, it’s easy to see the financial impact chronic disease has on a company’s healthcare budget. However, in addition to the cost, undertreated chronic illnesses decrease the effectiveness and happiness of your employees.
How You Can Lower Costs
While chronic illnesses are very prevalent, they are also highly preventable. Behavioral and lifestyle choices, such as lack of exercise, tobacco use, and poor nutrition, are largely to blame for chronic illness. By providing health screening services, disease management programs, and nutrition and health education, St. Luke’s Health Corporate Solutions provides the tools to help your employees lead healthier lives—and lower your overall healthcare spending, too.
Employers are increasingly pursuing corporate well-being services as a way to improve healthcare costs and reduce the effects of chronic illness on their employees. In fact, according to a recent survey of human resources professionals whose companies offered wellness services, over two-thirds reported these efforts were effective at reducing healthcare costs.
By providing services employees want to use, St. Luke’s Health Corporate Solutions promotes high levels of employee engagement. With on-site services and personalized program offerings, our approach provides straightforward and modern solutions for businesses of all sizes. With the resources of our integrated network, your company—and your employees—can overcome the implications of chronic illness. Download our free brochure today to learn more about how St. Luke’s Health Corporate Solutions can work for you.