Five signs you might need EHM

What is EHM, you ask?

Enterprise Healthcare Management (EHM) is the practice of managing a company’s healthcare investments using spending and healthcare trend data to gain insights that inform your comprehensive benefits strategy. In order to gather those data insights, you need technology; EHM solutions are integrated platforms with a comprehensive suite of apps and services that give benefits managers the insights needed to make smarter, more strategic decisions – and then implement them.

Essentially, EHM solutions simplify healthcare management, help reduce healthcare costs, and improve healthcare outcomes as well as the level of productivity for employers and their employees.

How do you know if your company would benefit from an EHM solution? This is where we can help – keep reading to learn the key indicators of whether or not you need to implement an Enterprise Healthcare Management Solution.

Below are the five main symptoms:

1)  You’ve lost hope of ever being able to manage healthcare costs, let alone lower them.

Your employees are great, but they’re not always the best healthcare consumers. They often don’t fully understand their benefits or how the healthcare system works. That’s primarily because they don’t have easy access to the right information – or an incentive – to make informed healthcare decisions. It’s a challenge to get your employees to change costly behaviors like, say, rushing to the ER for a sore throat instead of consulting a telemedicine provider. They don’t even realize that a choice like that can have a significant impact on their employer’s expenses.

Bottom line: Without a way to better enable healthcare consumerism in your employees, your ability to deploy healthcare spend in a more strategic way is limited.

2)  Changing your benefits programs is TOO HARD.

And by hard, we mean disruptive and costly. Kicking off a big change to your benefits program always starts with optimism – visions of your carefully crafted rollout strategy running perfectly or the announcement of your new benefits program being met with a round of applause from your employees, followed by stellar adoption and engagement. The reality is always different. You and your team work hard to educate and prepare your workforce for the change, but employees are often suspicious of any change to the status quo and learning curves for new benefit plans and features can be long. As a result, adoption is slow and building engagement is an uphill battle.

Bottom line: You know there must be a better way to manage changes to your benefits programs and more effective methods of communicating them to your employees.

3)  Your employee benefits satisfaction levels could be improved.

Your company offers great healthcare benefits, which should be giving you a leg up in the talent war. But your employees don’t fully understand the real value of their benefits package, resulting in less than perfect employee satisfaction levels. As a result, you find yourself in a race to provide benefits packages that set you apart from other employers. But when you do, there’s no discernible improvements in employee recruitment and retention.

Bottom line: You need to find a way to more clearly convey the true value of your excellent healthcare benefits package to your employees.

4)  You’re struggling to provide employees with a fully integrated benefits experience.

The value-add is obvious: A fully integrated healthcare benefits package is easier for you to promote and easier for your employees to use. The reality is that you’re struggling to navigate a patchwork of tools that are complicated for your employees to use, and expensive to boot. The programs you offer that are designed to improve employee healthcare are underutilized, and you and your team struggle to boost engagement with no clear return on investment.

Bottom line: In your opinion, offering a fully integrated healthcare benefits experience to your employees would be the Holy Grail of benefits management. If you could do it today, you would.

5)  You have little-to-no access to the data insights and analytics you need to pinpoint specific, actionable opportunities for improvement.

You probably have a solid idea of what the key healthcare issues in your company are (e.g., ER overutilization). It’s harder for you to see the specifics around when and where employees aren’t choosing high-quality providers or getting the preventive care that can lead to improved employee health outcomes and performance. Getting employees to change their behavior to promote overall wellness and keep everyone’s costs lower is a challenge.

Bottom line: You know that when employees take full advantage of the healthcare benefits available to them, their wellbeing improves and the business thrives. It’s a win-win situation on paper, but you lack the data insights to be able to make it a reality.

If any of these five pain points sound familiar, you’re not alone. A recent Forrester study of U.S. benefits leaders like you found that 59% of companies are actively looking for a technology solution to help systematically address these enterprise healthcare benefits challenges.

To learn exactly how EHM solutions can help simplify healthcare management for you and your employees (and how leading companies are already leveraging EHM platforms), check out our latest guide: “Solving the benefits puzzle: A guide to understanding Enterprise Healthcare Management.”