Mahatma Gandhi said, “The future depends on what you do today.” While Gandhi was, clearly, not speaking on the corporate wellbeing movement, his words can certainly be put into context for this rapidly changing industry.
As the cost of unwell workers continues to rise (obesity, for example, is expected to cost the United States more than $210 billion per year, up from $147 billion) due to increased number of chronic illnesses, lack of transparency, consumerism and decision tools, and the traditional fee-for-service model, it’s more important than ever to make decisions now that can help you prepare for the future – A future that not only has an impact on the success of your business but, more importantly, the health and wellbeing of your employees and their families.
With Gandhi’s words in our minds, it’s important to understand what’s changing in the world of corporate wellness and wellbeing in order to understand and leverage those changes in ways that can set up future success and, ultimately, better population health.
Last week, our very own VP of Employer Solutions, Will Herold, hosted a webinar that jumped right into the topic of the “Future of Wellbeing.”
“There’s a lot of gloom and doom when you look at the healthcare industry,” Herold said. “But it doesn’t have to stay that way. When you think about how to build a strategic plan towards a successful wellbeing program, there is a huge need to do something today to have an impact on what’s going to happen in the future.”
In order to start preparing today, what do we know about what’s to come?
1. New technology
Modular connected devices and apps will change our approach to wellness
2. Need for integrated data
Data from all areas will come together to form a complete picture of an individual’s wellbeing
3. Extended life spans
Individuals are living (and working) longer, creating new opportunities and challenges for corporate wellbeing
4. Rising retiree medical cost
This cost has hit a staggering $400,000
5. Millennial generation
Challenging the traditional healthcare model through use of technology and more
6. Government oversight
Legislation like the Affordable Care Act continues to impact wellbeing programs
“The key to preparing for the future is to recognize the need because, ultimately, the future is now,” Herold said. “After you’ve recognized the need, evaluate what you have in place, build a strategy, measure it and then finally, continue to revise it as needed.”
Click to request a full version of the original #FutureOfWellbeing webinar, including expanded discussions on the topics listed above.