As the costs stemming from COVID-19 continue to climb, reinsurers are collaborating with healthcare executives on how to mitigate the impacts of the virus on the sector. Virtual healthcare options are becoming increasingly commonplace, and the growing use of telemedicine and capacity constraints within our healthcare system will potentially dull utilization increases.
The novel coronavirus pandemic has undoubtedly shifted the way people think about and deliver healthcare. As the situation continues to evolve, employers are suddenly becoming a critical component in workers’ overall health and wellness — especially now, as they grapple with how to send their employees back to work safely. If they haven’t already, employers must go back to the drawing board regarding their employees’ health benefit plans, safety concerns and illness protections and invest in digital health options as part of this “new normal.”
Oliver Wyman’s “Health on Demand” report, generated in collaboration with Mercer Marsh Benefits and Mercer, surveyed over 2,000 Americans to understand the pulse of employer and employee digital health reactions, needs and wants. Oliver Wyman, Mercer and Marsh are affiliates of Guy Carpenter.
Since people’s health statuses are quite personal to the individual, how different people feel about having their health data monitored, stored, and recorded in a workplace setting is critical to determining what offerings will benefit employees long-term versus which are perhaps more just “nice to have.”
This report highlights the extent health and well-being may shape future corporate decisions as businesses work to adjust to COVID-19.
Sam Glick, Partner, Health & Life Sciences, Oliver Wyman, Helen Leis, Partner, Health & Life Sciences, Oliver Wyman and John Rudoy, Director, Healthcare, Marsh & McLennan Advantage contributed to this report.
Guy Carpenter has been developing a view of how COVID-19 may impact the medical (re)insurance market.