Global Employee Health Management IT Market, Forecast to 2024
NEW YORK, July 18, 2019 /PRNewswire/ --
Description
The purpose of this research service is to present a comprehensive analysis of the global employee health management information technology (EHM IT) market, with respect to how digital health platforms are expected to help employers devise and scale clinical and wellness programs that ensure employee well-being and improve organizational productivity through better financial performance. This is a global study that classifies key markets based on their receptivity for employer-specific health and wellness initiatives that are delivered through digital health enablers. The study period is from 2019 to 2024, with the base year as 2019 and forecast period from 2020 to 2024. The study does not cover occupational health and safety standards, which could be subjective to a particular industry's unique legal and operational attributes. However, it focuses on various clinical and financial aspects of employee wellness and how digital health solutions can be used to establish a cohesive culture of healthy living at an enterprise level.
Read the full report: https://www.reportlinker.com/p05797039/?utm_source=PRN
According to industry estimates, 69% of an average workforce of 20,000 employees either suffer from or are at risk of major illness, resulting in significant disruption to the operational status quo. At a global level, employers lose an aggregate of $300 billion annually in direct medical costs and indirect productivity costs. Most of these employers are witnessing higher growth of employee benefits costs year over year as their employees remain vulnerable to serious clinical risks that include various chronic conditions, comorbidities, and mental health issues stemming from lifestyle and sociobehavioral attributes. Poor nutritional habits, lack of regular exercise, and care plan non-adherence are further escalating the matter for employers, who in many cases are spending as much as $12,600 per employee per year in medical costs.
To tackle this global challenge, major employers are collaborating with mature and progressive EHM IT solution providers that are devising, deploying, and scaling clinical and wellness programs that ensure employee well-being and better financial performance through improved organizational productivity. This year, for example, North American employers have spent more on employee health and wellness programs than ever before. Many of them are on a mission to establish a wellness-focused workplace that fosters the culture of preventive healthcare among all employees, regardless of their seniority, ethnicity, or designation.
However, challenges still persist as most EHM IT solution providers that employers partnered with have failed to improve employee health outcomes for a sustained period of time, and in many cases could not demonstrate tangible returns—neither in the form of better cost saving nor higher productivity. Hence, an undeniable need exists for a flagship digital health platform that personalizes employee health benefits and delivers positive outcomes quantitatively.
This study aims to pursue a deep dive on the various healthcare IT solutions that enable employers to deploy personalized wellness, behavior change, surgical rehabilitation, and benefits management services for their employees at home, in the office, or on the go.
KEY ISSUES ADDRESSED
- What triggers EHM initiatives?
- What do employers want to achieve by rolling out EHM programs?
- How are employers positioned in terms of their ability to devise and implement EHM programs globally?
- What is keeping EHM programs from being fully successful?
- What role should digital health platforms play to ensure that EHM programs are successful?
- What different types of employee data do digital health platforms normalize to implement EHM programs? How should that data be collected, processed, stored and delivered to key stakeholders?
- What role will wearables and medical devices play in ensuring that digital health platforms have access to employee data on the go or in real time?
- What are the major integrated, IT-enabled EHM programs being adopted around the world?
- What are the key financial incentives, delivered via IT platforms, that improve employee engagement in EHM programs?
- Apart from IT, what other major elements ensure successful implementation of an enterprise-wide EHM strategy?
- What is the total revenue potential of the global EHM IT market? How that market is expected to grow during the study period?
- Who are key vendors offering progressive EHM IT solutions to major employers globally?
- What are the top growth opportunities around EHM IT?
Read the full report: https://www.reportlinker.com/p05797039/?utm_source=PRN
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