Diabetes, a widespread chronic condition, not only takes a toll on individuals but also poses a significant financial burden. According to a study published on PubMed, people with diabetes incur staggering annual medical expenditures, averaging $19,736. Approximately $12,022 of this sum is directly attributable to diabetes, making the economic impact undeniable. Furthermore, individuals diagnosed with diabetes face medical expenditures 2.6 times higher than those without the condition (Source: “Productivity and medical costs of diabetes in a large employer population – PubMed (nih.gov)“). This financial strain affects both employees and employers, emphasizing the need for proactive measures to mitigate the costs associated with diabetes.
The Costly Reality:
The financial repercussions of diabetes extend beyond individual budgets, affecting businesses through increased healthcare premiums and lost productivity. In the face of this challenge, employers must recognize the need to address diabetes management as an integral part of their employee wellness strategy. While many employers believe their healthcare packages adequately cover diabetes services, the reality is more nuanced. Employees may find themselves grappling with expenses beyond what their plans cover, creating a financial strain that impacts both parties. The status quo approach is no longer sufficient, and employers must consider innovative solutions that extend beyond traditional policies.
Navigating Complexity with Diathrive Health:
Acknowledging the complexities of living with a chronic disease, Catapult has partnered with Diathrive Health to revolutionize diabetes management in the workplace. Diathrive Health goes beyond conventional solutions, offering personalized care that not only increases productivity but also enhances the quality of life for employees with diabetes. Diathrive Health simplifies the process by providing personalized plans, granting participants direct access to top-quality testing supplies at frequencies tailored to their needs. This strategic approach allows employers to address the root causes of lost productivity, rising costs, and increased absenteeism associated with diabetes.
Integrating a diabetes management solution into your employee benefits package can significantly alleviate stress and cost burdens for individuals dealing with diabetes. The solution should not only cut costs for the company but also remove financial barriers for employees. Key components include tools for monitoring and managing blood sugar, individualized care plans, and comprehensive clinical support.
Recognizing the significant impact of diabetes on both individual well-being and business costs, proactive employers are turning to innovative solutions. The partnership between Catapult and Diathrive Health offers a compelling model for businesses looking to enhance employee health, reduce costs, and foster a more productive workplace. By prioritizing diabetes management in the employee benefits package, employers can make a positive impact on the lives of their workforce while simultaneously bolstering the financial health of their organization.
Contact me to delve into the innovative solutions that are reshaping the landscape of diabetes management at martha.barker@letscatapult.org.
