If you are an employer or an HR professional, you have watched healthcare costs rise about 6% every year for a long time. This year, experts predict those costs may increase by as much as 10% . With employers everywhere still managing the impact of the COVID-19 pandemic, these types of numbers could be devastating. But healthcare innovation and advocacy could help reduce the burden, while also improving the overall care for your team.
Lower healthcare spend
Personalized advocacy solutions from Accolade can help keep your healthcare costs down. A study from the independent consulting firm Aon confirmed how much employers can save.
The Aon study analyzed the impact of Accolade on healthcare spend over one- and two-year periods for six self-insured employers. The results showed:
Customers that started using Accolade in 2019 saw 0% healthcare trend compared to 8.3% in a precisely matched market control group.
Customers implementing Accolade in 2018 saw a two-year trend of 2% compared to 6.1% in the matched market control group.
Savings across conditions and categories
This independent study also showed that Accolade helped employers save regardless of their employees’ age or health conditions – whether they had no chronic conditions, or more than four. This infographic shows how Accolade helps employers save across conditions, age groups and categories.
Improved employee experiences
Accolade not only helps lower employer healthcare costs; we also deliver 90% member satisfaction rates. This is because employees that use a personalized advocacy solution from Accolade get:
A better understanding of their benefits, so they know what support is available to them and their family, and how to use it.
An experience focused on individual needs, which they will stay engaged with and return to over whenever they need healthcare help.
Complete support that addresses their healthcare and benefits needs.
Assistance that keeps track of their health, enabling integrated care that can help contain costs and improve health outcomes.
Better bottom lines and outcomes
To address healthcare costs that continue to change year over year, employers need to do something different. An innovative personalized advocacy solution can reduce your company’s costs and help your employees experience better health outcomes.