Population Health Management (PHM) is a new way to approach health care that focuses on the overall well-being of your employees. It’s a proactive strategy that can help prevent illness and care for those who are ill. PHM is important because it helps ensure that your company has happy and healthy employees who are more productive and satisfied with their work.
Here are a few reasons why population health management is key for your company’s success.
Help Improve the Health of Your Employees
In the business world today, it’s true that you can’t manage what you can’t measure. With population health management services, you’re getting a complete picture of every employee’s health and well-being status. That allows everyone in your company to make better decisions about how they should be spending their time. This will help improve the overall health of your employees as well as their productivity at work.
Keep Employees Happier and More Productive
The benefits of PHM to your employees’ happiness and productivity are numerous.
A healthy employee is better able to focus on work, making them more productive. The positive effects of a healthy lifestyle also help improve employee morale, which in turn increases productivity. When employees feel valued by their employer, they are more motivated and less likely to leave the company for another job or even retire early.
Besides, when PHM policies include initiatives that make workers feel respected and appreciated by management, it can bring out the best in them. It also benefits the company overall because happy workers are more productive workers.
Prevent Illness and Care for Those Who are Ill
Population health management can prevent illness and care for those who are ill.
In 2020 alone, there were over 670,000 deaths in the U.S. because of hypertension. That’s a sign that this health issue is one to be concerned about, especially for employers. After all, the workplace often tends to be a place where people feel pressured to perform. PHM can allow you to assess your employees’ health conditions and prevent such health issues.
It can also be used to identify people who are most at risk of developing a condition and then monitor their progress as they get treatment. That way, you can predict when someone will need more intensive care before it becomes an emergency situation.
Uses Data to Assess the Overall Health of a Population
Population health management is a strategy that uses data to assess the overall health of a population and then uses that information to develop prevention programs. The use of data is key for this process because it allows for more accurate assessment, which can help tailor interventions to better target specific populations.
Population health programs can be developed from both qualitative and quantitative data sources such as surveys, medical records, claims data, patient registration systems, laboratory results, and pharmacy dispensing information. Some companies even use social media channels like Facebook or Twitter to collect data on patients’ lifestyles.
The population health management process typically begins with an assessment phase where detailed information about members of your organization’s designated target group(s) is gathered using one or more types of available sources listed above. This initial collection phase involves two key activities.
The first is collecting baseline information about members within each target group so you can compare progress over time. The other is collecting relevant demographic characteristics, such as age distribution within each target group, so you know where you need intervention efforts aimed most effectively.
The worldwide big data analytics market is currently valued at $271 billion. By 2029, that value will cross the $655 billion mark. Employee data, without a doubt, is a huge part of this market. With PHM services, you can ensure that this data is being utilized to its full potential for your employees’ as well as your company’s benefits.
Helps with Preventative Care
Population health management is all about preventing disease, illness, and other healthcare problems. You can do this by having a strong relationship with your employees, but it’s also important to have preventative care strategies in place. Preventive measures should be tailored specifically to each individual, so they feel comfortable with the process and understand its purpose.
One of the most common ways companies use population health management is through fitness programs that help employees stay healthy and active throughout their lives. These programs can include anything from gym memberships to on-site fitness classes, depending on what works best for your organization’s culture.
The population health management market is valued at $57.7 billion so far in 2022. By 2030, that value will cross $280 billion. With all of these benefits, it’s easy to see why population health management is so popular and so important.
At the end of the day, these services are there to improve the overall well-being of your employees. Once you do that, your employees will try their best to help your company succeed.