Businesses thrive on efficient employees. Examine Big Brown (United Parcel Service) and you will find that profits are hidden within all processes. UPS was a pioneer in measuring the “little things”, like which foot a delivery driver used to enter his package car, or using a key ring large enough to fit around his finger. These tenths, or even hundredths of a second added up to substantial improvements in efficiencies and in PROFITS!
Today, we have tele-medicine, an industry that is growing around 25% annually. Tele-medicine is already included in many employer-sponsored benefit programs. It is fast, convenient, and provides results!! On average, a tele-medicine consultation has a smaller copay that traditional in-person physician visits, and employees are shifting to its use at a national average of 30%. However, tele-medicine as it is currently being utilized still creates medical claims affecting the employer-sponsored medical plan.
Through our Tele-Medicine vendor, Strategic Benefit Alliance, Inc. has negotiated a program which has NO COPAY for employee utilization and NO MEDICAL CLAIMS affecting the employer-sponsored medical plan.
With a simple shift of current tele-medicine utilization to our vendor, a company of 100 employees will move approximately 115 visits and eliminate almost $29,000 in medical claims and eliminate almost $5,300 in employee paid copays.
APEX Membership gives every employee unlimited access to tele-medicine. We believe with our education, and engagement tele-medicine utilization will climb to 50%. For the same company of 100 employees, that translates into almost $48,000 of medical claims eliminated and over $7,500 in employee paid copays!
A 30% utilization of tele-medicine could reduce premiums by approximately 3.5%, while our target of 50% utilization could reduce premiums by almost 6%!
Investing in education and support programs that promote healthy habits in terms of nutrition, exercise and improved health yield greater results.