Health Fair Personal Pampering

CEOs and CFOs know bottom line numbers and their Health Fair Return on Investment (ROI). Medical self-care programs have been shown to provide a significant return on investment

• A comprehensive health management program at Citibank generated $4.45 to $4.73 in reduced health care costs for every $1.00 invested.
• A blood pressure control program at General Motors generated $3.10 in reduced absenteeism (year 2); $3.90 in reduced absenteeism (year 3) for every $1.00 invested.
• A medical self-care (demand management) program at Union Pacific Railroad produced a 12.5% reduction in unnecessary physician visits and an ROI of $2.78 in reduced outpatient costs for every $1.00 invested.
• From a review of 13 studies of worksite health enhancement programs, $1.00 invested returned $3.48 (average) in reduced health care costs and $5.62 (average) in lower absenteeism costs.

Source: Leading by Example - Partnership for Prevention

In-Network Health Fairs are Guaranteed to save you money! Are you maximizing your health fair ROI?

Health Fairs Direct charges a coordination fee for all non-Manhattan health & wellness fairs. This fee is automatically paid back within 1 year through savings in your health insurance premium through Health Fairs Direct's health fair ROI:

- The savings in your health insurance premiums alone should show a 3 or 4 to 1 health fair ROI. (The following example assumes a $2,000 expenditure on the Health & Wellness Fair)

Ex: If a company has roughly 100 lives — at $600 per month this totals to $60,000 monthly or $720,000 annually in health care premiums. If only 10% of their population goes out-of-network for their medical needs, the overall premium goes up by 9% (based solely on this metric). By introducing the population to local, in-Network doctors, OHD helps to reverse this trend.

So by moving 10% of the population (or just 10 employees) to in-Network coverage, the client stands to save almost $65,000 on their premiums annually.

To break this down even further, if only 5 people start going in-Network for their health care it still equates to almost $33,000 in reduced premiums , or if only 1 person starts using in-Network doctors for his/her provider it should lead to a $7,200 savings — over a 3:1 heatlh fair ROI on the health fair alone!!!

This also works in reverse. For every out-of-network doctor or medical practice that you have at your health fair you are encouraging and even recommending to your employees that they should receive their medical care through out-of-network doctors. The burden of the resulting unnecessary cost increase will be shared by you, your company and the rest of your employees. Having out-of-network medical doctors at your health fair eliminates and even reverses the health fair ROI that Health Fairs Direct provides.

The only way to ensure a positive return on investment for your health and wellness fairs is insist on 100% in-network medial exhibitors. Here is why:

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According to the Actuaries at Lockton Companies LLC, (Employee Benefits Specialists), if 10% of a company's employees see out-of-network doctors the company will have an additional 9% increase in their next insurance renewal. (For more information about how out-of-network exhibitors increase your insurance premium contact Matthew Schmidt at matthew.schmidt@lockton.com)

In order to take advantage of the potential health fair ROI that can be gained, even in the first year, corporations need to become pro-active in health programs. Health Fairs Direct provides that opportunity and ensures no hidden costs or back end out-of-network billing.