Corporate and government-sponsored wellness incentive programs go far in cutting healthcare costs, according to a new study released by the Incentive Research Foundation (IRF).
The study, “Energizing Workplace Wellness Programs: The Role of Incentives, Rewards & Recognition,” examines whether workplace-wellness planning and healthier choices play a significant role in reducing certain health risks that contribute to skyrocketing healthcare costs. Healthcare costs are predicted to comprise 25 percent of the Gross Domestic Product by 2025.
“The U.S. is spending about $2.5 trillion per year on healthcare. As much as 75 percent of that is spent on preventable conditions, so the potential savings through preventative healthcare measures that include workplace wellness programs could be as high as $1.9 trillion per year,” said IRF chief research officer Rodger Stotz. “And this doesn’t even consider productivity gains or worker quality of life improvements.”
The study shows that corporate-wellness programs result in a cost-to-savings ratio of more than $3 saved for every $1 invested.
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