MAXIS has launched a brand-new, analytics-led, report for global multinationals that can significantly help improve the impact of employee health and wellness initiatives and helps mitigate the cost drivers of medical claims and employee benefits (EB) programmes. This report, which uses extensive global medical claims data, is the first of its type in the market.
Our new Population Health and Risk Stratification reports allow multinationals to categorise employees and their dependents by health risk – into high, rising and low risk segments – to better understand management practices and initiate programmes that help prevent chronic diseases, stabilise current chronic conditions, and prevent an acceleration to higher-risk categories and higher associated costs.
This new health and wellness solution complements and extends our established suite of medical reports and analytics for multinationals, alongside the Paid Claims & Country Benchmark and Incurred Claims reports. With the addition of the Population Health and Risk Stratification report, the offering is one of the most comprehensive in the EB sector.
In addition, the new report has a specific area focused just on diabetes, delivering deeper, specific insights on diabetic complications, including a severity index, patient comorbidity and in-patient admission reporting. The focus reflects the significance of diabetes in terms of health and wellbeing and its growing impact globally.
Dr Leena Johns, Head of Health & Wellness, MAXIS Global Benefits Network, said: “Many employers remain uncertain about the type and nature of wellness activities they should encourage, and the impact they can have on staff. Health insurance costs continue to remain the second largest expense beyond payroll for many employers and is linked directly to employee health. An organisation that succeeds in moving a population from a high-risk category to a moderate-risk category can expect reduced cost levels.
“Our new Population Health and Risk Stratification report uses data based on a client’s global population, country by country, and shows the nature, type and magnitude of the health problem and the type of employee engagement required to improve this based on identifying three strata of population. The report assigns a health risk status to the client population, and that information is then used to help direct and improve wellness initiatives.”
In our recent report “MAXIS GBN Global Perspectives: in the changing world of employee benefits, does one size still fit all?”, we concluded that data and digital innovations will underpin the successful delivery of global EB programmes. The near limitless number crunching capabilities available mean employers can successfully price risk while powerful data analytics mean organisations can better manage costs and understand where employee benefits budgets are being spent.
Dr Leena Johns added: “Technologies and data analytics are driving the future of the ‘smart’ EB sector, and MAXIS GBN believes it is at the very forefront of this evolution. For instance, our new Population Health and Risk Stratification data reports are able to clinically map diabetic complications and offer all stakeholders dedicated, specific insights. Looking ahead, we will build on this and offer further unique data and reporting services for multinationals.”