Before COVID-19 hit, there were many challenges for American employers when it comes to healthcare. But during these challenging times we are all experiencing, that has changed significantly. Here’s how COVID-19 is impacting workplace healthcare and some ideas about what we can do.
Before COVID-19 hit us, our American workplace insurance had many issues. However, at least there was some kind of predictability as far as what services were required and how much it would cost. Challenging issues could be addressed by developing strategies to get the most out of our healthcare costs and help to influence behaviors. Examples of this include developing employee health incentive plans like smoking cessation, gym memberships, and so on. Pre COVID-19 seems to be a more manageable time now, shining some light on what we thought was complicated just a few months ago.
Dealing with COVID-19
The need for healthcare services is experiencing a drastic paradigm shift caused directly by COVID-19. Although the overall demand for healthcare has decreased, there has been a massive increase in the need to test and treat coronavirus. This has caused a fundamental shift in workplace healthcare that we are still continuing to figure out and develop solutions for. Even when our “new normal” takes place and the virus is relatively in our rearview, these changes seem like they are here to stay.
What We Can Expect Post COVID-19
When the COVID-19 pandemic is finally over, the healthcare system will probably be permanently changed. At least for the next year or so, providers will experience burnout, hospitals will consolidate, and the behaviors of workplace healthcare participants are likely to be completely different. It is difficult to predict how things will look after this unprecedented time is finally behind us, but the treatment and healthcare technology we are using now will likely impact how we use workplace healthcare in the future.
There is very little data to go off of right now, but micro-trends are emerging and we do have a small amount of historical data with which to go on. For instance, there will be future health concerns for those workers or their loved ones who have had coronavirus. On top of a majority of coronavirus survivors experiencing decreased lung capacity, we understand that mental health is being highly impacted due to a lack of socializing and working in a group environment because so much is done at home now. Perhaps most importantly, there will eventually be a vaccine available. And most organizations that employ workers who perform day-to-day tasks in close quarters to other employees will no doubt be interested in the cost of these vaccines and will want to know the costs so they can pay for these vaccines. These are just a few examples of things we know for sure and what we can build a foundation on in order to maximize our healthcare effectiveness.
Prodigy is Here to Help
Prodigy stop-loss insurance is here to help you manage these times impacted by COVID-19. Staying socially distanced is important, but we can still help you add any stop-loss insurance to your self-funded policy or answer any questions you may have. This can be done digitally or over the phone. Contact us today to see if we can help provide some relief to your workplace healthcare issues.