COVID-19 Report: Cost Containment Amidst the Pandemic
In our latest blog series, we take a closer look and examine 6 main issues that employers are still combating, even after a year of a global pandemic. In the fourth blog of our six-part series we will be discussing healthcare cost containment. Check out the full series .
As employee needs continue to rise because of the pandemic, budget pressures have also increased significantly for HR departments. Cost containment is becoming a high priority for HR professionals. Because of remote work, there has been major cost reduction in areas like downsizing office space or cancelling leases.
According to our recent COVID-19 report, 75% of employers do not anticipate any cost reduction in healthcare costs. Those who are reining in healthcare costs are turning towards virtual care services and telemedicine as a lower-cost alternative. Not only is it more budget-friendly for companies, but employees can also get access to virtual care within minutes and in the comfort of their own home. Instead of spending a few hours at the doctor’s office, employees can spend less than half an hour at a telehealth appointment and have their needs met. What is your company doing to reduce costs and simplify healthcare for your employees?
Click to access the full COVID-19 report.
Contact us today to find out how virtual healthcare can save you money and improve your employee experience.
About the author
Hannah Chi
Marketing Coordinator
As Newfront's Integrated Marketing Coordinator for Employee Benefits, Hannah supports the marketing team through developing and distributing best in class marketing and communication resources for Newfront and our clients.
The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Newfront shall have no liability for the information provided. While care has been taken to produce this document, Newfront does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided.
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