CloudMD Software & Services Inc. (TSXV: DOC, OTCQX: DOCRF, Frankfurt: 6PH) (the “Company” or “CloudMD”), an innovative health services company transforming the delivery of care, is pleased to share the results of its study conducted by ANDx Research Group: Unlocking the Potential of Employer-Provided Health Benefits. CloudMD sought to investigate what kind of healthcare benefits employees are using, what services aren’t being used and why, and what could be done to improve utilization. Overall, the study identified a misalignment in the market today between the rise of employee mental health struggles and the limited utilization of support programs offered to them.
Key findings include:
- Employees are feeling more stress and burnout, leading to lowered mental health and productivity in the workplace. Despite this, only 37% of employees are utilizing their mental health benefits. The least utilized services were Paramedical benefits for Mental Health and Employee and Family Assistance Plans (EFAP).
- Employees who used paramedical benefits for mental health support reported greater satisfaction with their benefits offering than those who didn’t utilize them.
- The three biggest barriers to utilization include: confusion around costs and services available, lack of time to participate with the programs offered and wait time to access the services.
- Employees want more choice in services, help navigating their benefits and coverage, proof that the programs work, and a better customer experience with less waiting.
- Younger employees want more choice in services, while male employees wanted more evidence that the programs work.
There is a clear opportunity for companies to increase employee wellness and job satisfaction and thereby reduce burnout and absenteeism by removing the barriers that prevent employees from fully benefiting from the supports offered to them.
The full whitepaper including suggested improvements to traditional benefits is available for download here.
“This survey tells us that employees want help in understanding and navigating their mental and physical health benefits. Employers’ investment in health & wellness programs needs to include navigation services to enable people to gain access to care that meets not only their needs, but also their preferences,” said Karen Adams, CEO of CloudMD. “If employees aren’t fully utilizing the care available to them, this diminishes the value that both employees and employers receive, resulting in lower employee satisfaction, deteriorating mental and physical health, and higher rates of absenteeism.”
Karen Adams continued, “We’ve repeatedly demonstrated that health navigation closes the utilization gap and increases return on healthcare investments. Historically this approach was used to navigate complex disability cases. Now we use that same process to help connect employees to the right services and support them throughout their entire journey. Our unique set of services are proven to break down traditional barriers around availability, time, confusion, and stigma and provide the widest choice in access and delivery to meet patients where they are.”
CloudMD will present the study findings and recommendations at the inaugural HRD Wellbeing Summit Canada on March 1st which is bringing together thought leaders and HR innovators from across the country to share their strategies for launching the workplace into the era of wellness.
CloudMD will also present a session with Manulife on implementing TAiCBT in the workplace to improve mental health and disability outcomes.
The HRD Wellbeing Summit Canada will also see presentations from Air Canada, Hootsuite, Cowan Insurance Group, Marriot Hotels, LCBO, RBC Insurance, Ontario Teachers Pension Plan, Starbucks, and many others. The full agenda is available at https://www.wellbeingsummit.ca/.
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