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Self-Insured Employers: A Route to New Clinical Laboratory Revenue

by Carolyn Woods | November 15, 2021 | Blog, What’s New

Employers want employees to be present and productive in their jobs. But when employees are suffering from ill health or chronic disease, it’s no surprise that their job performance suffers. Employers measure lost productivity in absenteeism (work days lost to illness) and presenteeism (reduced productivity while at work), and they are very keen to reduce both.

With tens, hundreds and maybe even thousands of workers on their rosters, increasingly more employers have self-insured their own health plans to better manage the cost of health insurance coverage. Healthcare Finance reported in 2019 that nearly 60% of U.S. workers had insurance through an employer’s partially or fully self-funded healthcare plan. Those self-insured employers are motivated not only to keep group healthcare costs in check, but also to minimize both absenteeism and presenteeism by keeping employees healthy.

Drawing on her experience serving communities in New Mexico and Illinois, strategic consultant Kristine Bordenave, MD, FACP, spoke to attendees at Dark Daily’s Executive War College 2021 conference earlier this month about increasing lab revenue by expanding lab outreach programs to include self-insured employers. The clinical lab is the front line for test result data, key indicators of employee health and wellness. Using the lab’s test results as actionable indicators of employee health, the data can be the basis for community-based wellness initiatives focused on early detection, early intervention and better disease management.

In the hands of a savvy community health network and a well-constructed wellness program, lab data—over time and using multiple measures—can be monetized. Revealing seemingly healthy employees who are at risk of developing disease and allowing clinicians to increase workers’ success at managing chronic conditions, lab data as the basis for better disease prevention and management schemes speaks dollars to self-insured employers. Absenteeism and presenteeism go down. Productivity and profits go up.

Our Sunquest Atlas™ solutions, namely the Sunquest Patient Centric Repository, Sunquest Advanced EMR Connectivity SM and Sunquest Physician Portal SM, give laboratories of all sizes the ability to expand their outreach for inclusive population health initiatives on any scale. And to the benefit of a self-funded employer, Sunquest Atlas solutions connect an entire community of providers—irrespective of the EMRs they use—to your lab’s test results for patient-centric views of employees’ health and better outcomes for workplace productivity.

About the author
Carolyn Woods Marketing Content Writer
Carolyn Woods
Marketing Content Writer

Carolyn has spent most of her career in B2B software marketing. Her background in healthcare marketing comes from many years working for a national blood provider. She is an advocate for healthcare cost transparency to U.S. consumers and is fascinated by applications for big data, artificial intelligence and personalized medicine.

About the author
Carolyn Woods Marketing Content Writer
Carolyn Woods
Marketing Content Writer

Carolyn has spent most of her career in B2B software marketing. Her background in healthcare marketing comes from many years working for a national blood provider. She is an advocate for healthcare cost transparency to U.S. consumers and is fascinated by applications for big data, artificial intelligence and personalized medicine.

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Posted on by Jay Griggs