MAXIS GBN launches Global Wellness solution for multinationals seeking to control costs
MAXIS Global Benefits Network in June 2018 launched ‘MAXIS Global Wellness’, a centralized wellness proposition based on comprehensive health analytics to help multinational organizations mitigate the soaring costs of healthcare. The solution is delivered via corporate employee benefits plans. It allows multinationals to target country-specific cost drivers identified via analytics to deliver focused wellness solutions to employees.
The new product is underpinned by over four years’ global health data analytics across 37 countries. It provides multinationals with the tools and data required to understand their healthcare cost drivers across multiple jurisdictions. The solution also offers a suite of products and services to help organizations cut their costs. Wellness programs are tailored to better address current deficiencies in healthcare provision in particular markets and concerns that impact employees’ health.
The Medical Inflation Issue
The launch comes at a time when global medical inflation is running at 8.4%, well in excess of the general inflation rate of 3.1%. In some regions and markets such as Middle East & Africa, Latin America & Caribbean, annual medical trends are even higher at 15.3% and 13.9% respectively. How to better manage this cost pressure, while also delivering competitive employee benefits programs to employees, has become a fundamental issue for many multinationals.
Recent research by MAXIS identified that monitoring employee wellness is a major concern for 70% of multinationals. The increase in mental health claims is a particular issue, identified by 63% of multinationals, yet it is still seen as a taboo in many markets.
The core services provided by MAXIS Global Wellness include:
- Topic specific, educational Health & Wellness toolkits
- A business case modeler to calculate the impact on benefits spend and productivity
- A wellness technology marketplace of carefully selected third-party suppliers of technology
- Telemedicine services with a local network of doctors, operating with both international and local licenses
- Second medical opinion services
- Mental health helpline offering counseling sessions with a mental health expert
- A chronic disease management platform with one-on-one coaching for the management of chronic diseases.