Pre-pandemic, as more data emerged on the benefits of preventive health initiatives, employers focused on creating robust wellness programs, seeking better health outcomes from engagement in proactive health initiatives, navigator solutions, and digital apps.
Post-pandemic, employers have yet to realize these projected gains from their large portfolios of point solutions and programs. A lack of integration between tools and technologies and an excess of primarily superficial data have failed to deliver the deep insights needed to develop cost-effective benefit strategies. In many instances, point solutions have de-aggregated programs that should be aggregated. Worse, many companies are not seeing the desired health outcomes as a result of their investments.
As we look down the short road to 2024, more benefits specialists and consultants are analyzing every part of their employee benefits programs to determine individual and aggregate return on investment (ROI). As noted in a recent article from SHRM, this includes taking a strategic look at employer benefits packages to evaluate what they're offering, and whether those benefits resonate with their workforce.
This shift from evaluating value on investment (VOI) to ROI reflects a growing need for data on crucial metrics like employee engagement, health outcomes, health equity, and other benefits-based KPIs, particularly from point solutions. This includes one segment of the employee population that holds unparalleled opportunity when it comes to maintaining costs while boosting health outcomes.