Is cost containment top of mind for you? Like most leadership teams, you may be stuck between a rock and a hard place attempting to navigate lowering costs, retaining talent and preparing for (or managing) the looming recession. You’re juggling a lot. But what if we told you that quality healthcare could help you combat each of those issues head-on?
According to Johns Hopkins Medicine, “Every year, chronic illnesses and injuries among the U.S. workforce cost employers billions of dollars due to absences and lost or reduced productivity. In fact, the total cost to employers is $530 billion.”
$530 billion – and the largest portion of that is due to decreased productivity from unmanaged or poorly managed chronic health conditions.
How much are your employees, and better yet, your company dollars contributing to that statistic? There’s a solution that will not only take better care of your employees but cut your costs and position you as an employer of choice.
Keep reading to learn how quality healthcare can help you nip low profits in the bud.
Getting Your Employees to Quality Healthcare
Before we go any further, we know what you’re thinking – better quality healthcare must come with a higher price tag – but that is not the case.
When your employees see the top doctors in their area, there is a 35% lower cost of care — for both you and them. At Totem, we work to ensure our members are directed to the top physicians every time.
The result of directing your employees to top-notch physicians? Better health outcomes for your employees — like well-managed chronic illnesses.
While the lower cost of care is a clear value, it’s also important to communicate to employees that you care about their health and well-being. So much so that you’ve invested in employee benefits that prioritize them. Totem knows what it takes to fix healthcare for clients by delivering better benefits, lowering your costs and holistically enhancing the employee experience, positioning you as the employer of choice.
Lower costs, higher employee satisfaction, boosted recruitment and retention — all stemming from optimizing your employee benefits plan and directing your employees to high-quality healthcare.
Optimize Your Employee Benefits, The Totem Way
We’re firm believers in the value of employee benefits to cost containment strategies and recruitment and retention efforts. That’s because on average, we deliver 8%-29% annual savings to our customers who adopt our recommended health benefits plans that incentivize employees to utilize the highest quality care possible. This approach positions employers like you to offer better benefits that make a difference and retain top talent, all while significantly lowering your costs.
Our solutions change the way employers approach benefits. By strategically optimizing benefits packages tailored to each client we work with, our clients have seen:
- 10.5% decrease in employee turnover
- 8-29% in savings on medical spend
- 12.5% increase in the perception of benefits
- 700%+ increase in employee engagement
How do we do it? By getting your people to top-quality care through a plan design incentive of completely free care pathways when members choose high-quality options.
Is your current employee healthcare plan optimized to get your people the best care in the area?
Quality healthcare truly makes the difference – for your employees, your recruitment and retention efforts, and most of all, for your ongoing cost containment strategies.
Totem is ready to help you achieve the most out of your employee benefits plan. Book a consultation with us today to learn more.
