How Corporate Health Partners helped a medical manufacturer saved big on medical costs for better employee health.
In 2006, Coeur, Inc. faced a formidable dilemma: after years of double-digit increases in group medical expenditures, employee healthcare costs had begun to spiral out of control. In addition, a lack of focus on overall employee health was contributing to increased premiums and high rates of absenteeism. As a leading provider of medical products — and a company that mingles with major players in the healthcare field — Coeur leadership decided it was imperative that improvements be made.
To make it happen, Coeur began transitioning from a fully insured plan to a self-insured model — one that would be supported by a comprehensive corporate wellness program. The search began for the right partner to help implement this new approach, and in the fall of that year, they called upon the full-service wellness provider Corporate Health Partners.
Manufacturing (Medical Imaging)
Three locations – TN, NC, WI
THE CORPORATE HEALTH PARTNERS SOLUTION FOR EMPLOYEE HEALTH
Corporate Health Partners understood that to encourage employee health and wellness, customization would be key – so they got to work developing a corporate wellness program tailored to the specific needs of Coeur. Across state lines and multiple worksites, Corporate Health Partners began cultivating a culture of employee health and wellness through the implementation of its Prima corporate wellness program, which provided health insurance premium reductions for participating employees. Adoption of Prima also relieved the Coeur team of wellness management efforts, allowing them to turn their attention to other areas.
-Health assessments and analysis
– Reporting of findings
– Personal health coaching
– Weekly on-site program management
$1,600,000 net savings – that’s how much money Coeur has saved in cumulative medical costs since partnering with Corporate Health Partners. But the benefits don’t stop there:
· The company has witnessed absolutely no increase in medical costs over the last 6 years
· Employees have experienced only one slight increase in deductibles and copays
· Short-term disability has plummeted to just $4.09 per employee per month from $17.92
· Employee prescriptions are down 61%
· Overall employee health and wellness scores are up from 68 to 84
CORPORATE WELLNESS PROGRAM RESULTS: SELECT METRIC, COST, RISK DATA, AND EMPLOYEE HEALTH
Coeur’s move to self-insurance supported by Corporate Health Partner’s employee health and wellness solutions began to bear measurable return on investment in 3 years. Today, 87% of Coeur employees actively participate, and they are healthier because of that participation. The company has saved a total of $1.6 million since the program launch and continues to defy national trends with its reduced healthcare claims and contained costs. Wellness ROI for Coeur over six years is 5:1 in direct medical costs alone.
Coeur Inc. chose Corporate Health Partners (CHP) to be our wellness vendor in the fall of 2006. Corporate Health Partner’s dynamic model was critical to the success of the program. Our multi-site, multi-state footprint required special attention and custom detail at each site.
Our goal was to create a uniform corporate wellness initiative across all sites, tie participation with incentives, and to weave wellness into the overall company culture in addition to each site’s local culture. In order to accomplish this, we needed more than health portals, telephonic coaching, and health fairs from the local hospitals. Our internal staff lacked the time and expertise to manage such an undertaking.
Corporate Health Partners helped design a plan we could tie into employee premium reductions for participants. After that, Corporate Health Partners communicated and implemented the program, conducted assessments, analysis and reporting, provided appropriate interventions including face-to-face personal health coaching sessions, and most importantly, managed the program on a weekly basis at each worksite.
I highly recommend the team at Corporate Health Partners for managing a highly engaging and effective program.
- Jay Cude, President/CEO
Contact Corporate Health Partners to see how your organization can achieve similar results.