Over the past year, putting health and well-being at the forefront of business strategy has been paramount in helping employees manage unprecedented stress, anxiety, and burnout. The American Institute of Stress reports that 80% of managers and employees feel stressed at work. Further, 6 in 10 adults have at least one chronic disease, driving the nation's $4.1 trillion annual health care costs.
As an employer, type 2 diabetes impacts more than just employees at risk or living with a chronic condition. According to the Society for Human Resource Management, type 2 diabetes costs U.S. employers more than $20 billion annually from unplanned time off from work alone.
Healthier employees make for a happier, more productive workforce. More employers are beginning to move beyond traditional health insurance and retirement plans to invest in digital health programs that provide tools to empower employees to manage their diabetes better and thereby drive behavior change.
There is an undeniable relationship between employee well-being and all business outcomes that matter most to your C-Suite.
Learn how to make a case for employee well-being for your executives in their language.
Employer Healthcare Trends and New Approaches to Diabetes Management
- According to the American Diabetes Association, the estimated cost of diagnosed diabetes is $327 billion, a 26% increase from previous years' estimate of $245 billion.
- It is projected that medical care for pre-diabetes and diabetes will account for 10% of the healthcare spending, and U.S. employers will bear a significant portion of this financial burden.
- The need to explore new approaches to control the costs associated with diabetes is inevitable.
- Employers can pursue alternative ways to deliver care to increase employee engagement, educate employees on adopting and maintaining healthy habits, and showcase how to navigate their health care effectively.
- Studies show that participating in an integrated diabetes management program has a significant positive impact on glycemic control, which can increase productivity, reduce absenteeism and help to brand a company as a caring employer.
- The goal is to empower employees with the tools to build healthier habits or manage chronic conditions so untreated diseases don't become costly.
What Do Businesses Need to Know?
- To make optimal decisions on which health and well-being benefits to offer and how to pay for them, HR and Benefits professionals need to understand the business case and communicate it clearly to stakeholders, board members, executive teams, and frontline staff.
- Leaders can be more convinced through grounded data and sound plan design. There is meaningful and measurable well-being ROI for employers in areas around engagement, loyalty, and productivity — not just those pertaining to medical spending.
- Businesses can construct a business case by gathering data and evidence to answer four critical questions about the value of investing in employer-sponsored health programs.
- What do my employees need?
- How will my employees benefit?
- How does the benefit address my business's pain points?
- What is the demand for the benefits among their employees, and how does it vary by type of employee, location, etc.?
In addition to educating management and taking steps from a cultural perspective, HR leaders must ensure that the offered benefits align with the company narrative. That includes ensuring:
- Health benefits are in place for health and well-being
- Management should be well-versed in recommending these benefits to decrease the stigma associated with seeking treatment.
- Employees have guidance and access to the resources they need, whether that’s in-the-moment support, ongoing coaching or more in-depth counseling.
- Employees have proactive ways to deal with stress in healthy ways, such as using wellness treatments.
Discovering a New Approach to Diabetes Management
Surprisingly, many diabetes programs are not designed for the real journey of a person living with diabetes. Some programs make patients go to the pharmacy and pay for test strips for their blood glucose meter. Other programs have a "one-size fits all" approach that is not tailored to the individual and how it fits into their lives. That's where Diathrive Health comes in.
Our employer-sponsored benefits for employees with diabetes include:
- Counseling from our Health Advisors, such as a Registered Nurse, Certified Diabetes Care and Education Specialist (CDCES), Registered Dietician, and Nurse Practitioner, on how to stay healthy while living with diabetes, addressing diet, exercise, and ways to stay on top of their medication and monitoring protocol.
- Digital tools that generate a long-term value of 60-85% in immediate savings on supplies alone.
- Better employee engagement with human-powered guidance that empowers them with a refreshing level of access.
To start investing in diabetes care today, learn more at Diathrive Health.