Report Finds Employers Recognize Untapped Potential of Personalization in Health Benefits
Mar 28, 2019
Findings Released from New Survey of Large Employers from Castlight Health
and National Business Group on Health
SAN FRANCISCO and WASHINGTON, D.C., March 28, 2019 — Castlight Health, Inc. (NYSE: CSLT) and the National Business Group on Health today released Employer Perspectives of Personalization in Digital Health, a report on the current state of personalization in digital health benefits. The report covers results from a nationwide survey of benefits leaders at large U.S. employers, on how they define, perceive, and use personalization in their employee health benefits programs.
“Our survey found that employers widely recognize the power of personalization, but most believe they are not tapping into its full potential,” said Maeve O’Meara, Executive Vice President of Product and Customer Experience at Castlight Health. “Industry advances in machine learning and data liquidity have created new opportunities to tailor benefits to the individual employee and unlock additional value for employers.”
The report highlights personalization’s potential to impact the employee experience, how employers are using personalization today, and gaps between the potential of personalization and current use. Notably, a large majority of employers (84 percent) believe personalization has “high” or “very high” potential to match employees with the right health benefits and resources to meet their needs. However, most employers (71 percent) report they are only tapping into that potential “a little bit” or not at all.
“Employers are keenly focused on benefits strategies that address rising health costs and improve the employee health experience,” said Brian Marcotte, President and CEO, of the National Business Group on Health. “One of the most effective strategies relies on leveraging the many data resources and digital health solutions available today to offer personalized recommendations that connect employees with the right health benefits at the right time.”
The report also identifies opportunities to address these gaps that will allow employers to improve their implementation of personalization in their employee health benefits programs, including expanding the types of data sources employers are using to drive personalization.
The full report can be found at: https://www.castlighthealth.com/resources/personalization/.
About the survey:
Conducted in mid-2018, survey respondents included benefits leaders from 58 large U.S. employers, 45 percent of which had more than 30,000 employees and 94 percent of which had more than 5,000 employees. The vast majority (86 percent) of survey respondents work in benefits administration or human resource roles and are in senior roles (88 percent manager or higher).
About Castlight Health
Castlight is on a mission to make it as easy as humanly possible to navigate healthcare and live happier, healthier, more productive lives. Our health navigation platform connects with hundreds of health vendors, benefits resources, and plan designs, giving rise to the world’s first comprehensive app for all health needs. We guide individuals – based on their unique profile – to the best resources available to them, whether they are healthy, chronically ill, or actively seeking medical care. In doing so, we help companies regain control over rising healthcare costs and get more value from their benefits investments. Castlight revolutionized the healthcare sector with the introduction of data-driven price transparency tools in 2008 and the first consumer-grade wellbeing platform in 2012. Today, Castlight serves as the health navigation platform for millions of people and is a trusted partner to many of the largest employers in the world.
About the National Business Group on Health®
The National Business Group on Health is the nation’s only non-profit organization devoted exclusively to representing large employers’ perspective on national health policy issues and helping companies optimize business performance through health improvement, innovation and health care management. The Business Group’s mission is to keep its membership on the leading edge of innovation, thought and action to address health care cost and the delivery, financing, affordability and consumer experience with the health care system. The 436 Business Group members, which include 74 Fortune 100 companies, provide health coverage for more than 55 million U.S. workers, retirees and their families. For more information, visit www.businessgrouphealth.org.