COVID-19 Report: Cost Containment Amidst the Pandemic
By Hannah Chi | Published June 23, 2021
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.
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.
