The work/health dilemma
How can executive physicals benefit you? Every organization strives to build a workforce that is passionate about what they do. But what is the cost of this passion when it leads to chronic overtime work? Studies show that working more than a regular 40-hour work week can put us at risk of preventable chronic diseases such as cardiovascular disease, respiratory disease, diabetes or pre-diabetes. Working long hours means less time for healthy priorities like eating proper meals and daily exercise. Employers recognize the relationship between the workplace and health and are implementing benefit strategies, like executive physicals, that strive to prevent illness before onset.
Problems stemming from overwork can go beyond physical symptoms. Work-related stress can take a toll on sleep quality, work-life balance and mental health. Which parts of our workforce undoubtedly take on the most stress? You guessed it: management and execs. With more responsibility and often extended hours, the most valuable employees are often the most at risk.
The grave impact of chronic disease on care costs
A study surveying 600,000 working Americans found that respondents working over 55 hours a week were 13% more likely to have heart disease than those working a regular work week. Chronic health issues are driving cost of care exponentially higher. According to the CDC, American businesses lose $36.4 billion annually when employees miss work due to high blood pressure, diabetes, and conditions stemming from smoking, physical inactivity and obesity. With an overwhelming price tag of $500 billion a year, medical spending due to chronic conditions accounts for over 80% of health care and pharmaceutical costs.
The cost sharing predicament
Employers are faced with a looming challenge. With unemployment at an all-time low, employees have control of the job market and will look for standout benefits, like executive physicals, in new opportunities. Employers are forced to creatively adjust to these market conditions to attract and retain their talent.
As cost of care rises, something’s got to give. Employers need to balance attractive benefits with combating the rising costs. Passing more cost onto employees in the form of cost sharing may not be a smart tactic in this employment climate. Employers are seeking methods to reduce the cost of care itself through wellness initiatives and prevention programs. The Gallagher 2019 Benefits Strategy & Benchmarking Survey notes that “[e]mployers continue to balance employee cost sharing with other methods of proactively reducing the financial burden through a focus on preventing disease and improving workforce health.”
How ArmadaCare’s executive physicals can help
Our Ultimate Health product is a unique way to help combat workplace stress and bolster compensation for your top contributors. They will experience unsurpassed coverage, as well as invaluable medical resources and convenience. They’ll also have the opportunity to frequently assess their health status with in-depth executive physicals. Cultivating a healthier workforce through education, prevention, quick diagnoses and swift action will lead to lower direct health care costs and reduced indirect costs through lost productivity and absence. Give your workforce the gift of prevention. Contact us today to learn how Armada can help.