Employee wellness programs offered by business owners to workers may be one of the better ways entrepreneurs can save on health care expenses while advancing productivity at the same time, a new study suggests.
Independent health policy think tank organization RAND recently looked at some of the employee wellness programs that were offered by soft drink giant PepsiCo. By it's conclusion, researchers discovered that the company saved itself nearly $3.8 billion in health care expenses for every dollar that was invested.
Dr. Soeren Mattke, senior author of the analysis and scientist for the non-partisan think tank, indicated that the employee wellness model studied one that other companies might consider adopting.
"The [wellness] program provides a substantial return for the investment made in helping employees manage chronic illnesses such as diabetes and heart disease," said Mattke.
It cautioned, however, that while employee benefits were provided, there were areas in which costs exceeded savings.
They suggested that this can be corrected by encouraging workers to be more actively engaged in managing their well-being through diet and exercise.
"While workplace wellness programs have the potential to reduce health risks and cut health care spending, employers and policymakers should not take for granted that the lifestyle management components of the programs can reduce costs or lead to savings overall," said Mattke.
Large employers typically offer some type of wellness program to their staff. In a prior study performed by RAND in 2012 on behalf of the U.S. Department of Labor, nine in 10 companies with 50,000 workers or more made wellness programs available, and approximately 50 percent of employers that had at least 50 employees.
Many employers provide incentives to their staff for living a healthy lifestyle, typically in the form of a financial reward, according to a 2013 report from Aon Hewitt.
