Evidence-based insights to help organisations quantify behavioural change impact on health and productivity
A digital service to allow organisations to calculate potential medical cost savings resulting from changes in employees' behaviours and lifestyles has been launched by MAXIS Global Benefits Network.
Developed alongside actuarial consultancy Habits at Work, MAXIS WIT (Wellness Intelligence Tool) provides evidence-based insights to help organisations quantify the impact that behaviour change could have on the health and productivity of employees.
The service integrates global data sets from bodies such as the World Health Organisation (WHO) and Centers for Disease Control and Prevention (CDC), as well as actuarial assumptions benchmarked against technical actuarial standards. It is customisable to allow organisations insert their own company's values such as medical claims data, employee turnover and identified medical cost trends.
At launch, the tool includes data for 26 global markets including the UK, Russia, China and the UAE, with the inclusion of further locations planned for the future.
Users can create a report that calculates the potential savings they could make on their organisation's medical costs, having selected the country in which they wish to implement a wellness campaign.
Sliders represent seven health-related behaviours - exercise, healthy eating, sleep, smoking, stress, management, talk intervention and drug adherence. These include the current status for employees' specific health-related behaviours, detailing the percentage who currently display optimal behaviours. The tool then enables to estimate potential cost savings for each health-related behaviour.
Matthias Helmbold, head of technical & services, MAXIS Global Benefits Network, said: "MAXIS WIT empowers employers and helps them to build an evidence-based case for funding and implementing targeted wellness programmes. Caring for employees' health and wellbeing is becoming increasingly important for multinational employers as it can help improve retention rates, reduce sickness absence and boost productivity. Targeting negative health-related behaviours with specific wellness interventions can help companies improve their employees' quality of life while reducing medical costs, which continue to rise at a rate faster than inflation across the world.
"MAXIS WIT isn't intended to evaluate the quality or success of a corporate wellness programme but simply to provide an indication of the potential savings that could be generated by a change in employees' lifestyles and behaviours," said Helmbold. This can be extremely useful when evaluating the benefits of one initiative over another or building a business case for implementing a behaviour change programme."
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