TORONTO, Feb. 26, 2019 (GLOBE NEWSWIRE) -- In Canada, about $64 billion is spent annually on direct and indirect costs for five key modifiable risk factors; physical inactivity, smoking, excess weight, low fruits & vegetables and excessive use of alcohol.
BestLifeRewarded operates the gold standard behaviour change technology platform for several Canadian insurance companies, along with its own direct member platform BestLifeRewarded.com. It currently supports employee well-being for over 12,000 Canadian organizations and 3+ million Canadians.
BestLifeRewarded has now quantified the significant behaviour change of its members, demonstrating tangible cost savings in the overall healthcare system and directly for employers. A team of external experts reviewed a sample of 6,899 BestLifeRewarded.com members who completed both an initial health risk assessment (HRA) and a follow-up HRA, at least one year later. They validated that the platform demonstrated significant improvements in health behaviours (Fig 1), which represent a total savings to the Canadian economy of $73.28 annually per member.
Based on the costs typically paid by employers, such as medications, short and long term disability, the BestLifeRewarded platform demonstrated a $30.45 (or 42% of the total cost savings) per member per year savings. With premature mortality, this number increases to $60.17 (or 82% of the total cost savings) per member per year.
Making a business case for disease prevention initiatives can be challenging for employers given that the ‘return on investment’ may not be recognized for years. BestLifeRewarded and its partners can now provide tangible cost savings figures to employers that demonstrate a significant return within 12-months.
“For almost a decade, we’ve delivered exceptional behaviour change results, so having access to the tangible savings for both the healthcare system and directly to employers reinforces that our proven interventions provide meaningful outcomes. We are excited about continuing our mission to improve the health of Canadians and positively impact our economy,” said Susanne Cookson, co-founder of BestLifeRewarded.
For the full detail of the Economic Modeling of Modifiable Risk Factor Reduction: A Report for BestLifeRewarded Innovations, please visit https://www.bestliferewarded.com/research.
About BestLifeRewarded (BLR)
BestLifeRewarded is the most comprehensive evidence-informed program that is tailored for the individual, customizable for the employer and includes a robust library of health education, health tracking tools, integration with Fitbit and other wearables, and offers multiple rewards structures. What we do works. Most wellness offerings are light on substance, but BLR builds real engagement through science-based wellness with built-in assessment models and robust measurement.
BestLifeRewarded
Better people. Exceptional business.
www.BestLifeRewarded.com
For more information please contact BestLifeRewarded:
Susanne Cookson, Co-Founder
Susanne@bestliferewarded.com
(905)336-1000 x103 office
(905)599-6045 cell
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e0876137-502b-4f22-9926-1141c4e2cca3