Are corporate wellness programs cost effective?
This is a question that is being debated on cfo.com.
“You know there’s a hot debate around an issue when people on both sides of the matter insist that there’s really no debate at all,” according to the website’s introduction to the debate.
Wellness programs lose 50 cents on the dollar, says Soeren Mattke, a senior scientist, about the $6 billion industry in the United States, while Michael Booth president of Axion RMS – a risk management company that consults with CFOs on their benefits packages and business growth – says wellness programs work if they are properly designed.
Then there is Mike Tinney, founder and CEO of Fitness Interactive Experience, a health and fitness platform used by large companies like Coca-Cola, who says wellness savings are real.
In South Africa, corporate wellness programs seem to be growing with even large health care groups such as Life getting involved, and medical insurance companies giving credits and discounts to members who prove to live healthy lifestyles.
To follow the American debate, click here.