Kohlberg Kravis Roberts & Co. (KKR), a global investments firm, and the American Heart Association (AHA) have recently teamed up to launch a new research collaboration to study how effective workplace wellness initiatives have been at KKR and four of its portfolio companies.
The four companies enrolled in KKR's Wellness Works Model – First Data Corporation, HCA Holdings, Inc., Sealy Corporation and Visant Corporation – represent more than 140,000 employees.
"In terms of the depth and breadth of the initiative, this has the potential to be among the most comprehensive analyses ever conducted on workplace wellness programs," said George Roberts, co-founder and co-CEO of KKR, in a press release. "Our goal is to support individuals in improving their wellness thereby building stronger communities and companies.”
The companies participating in the KKR Wellness Works Model, at a minimum, commit to providing employees with incentives of $250 or more for completing certain wellness requirements, including completing an annual biometric screening. The results from the screening, along with health management resources, are provided to the employees to allow them to optimize their screening results. These resources can include access to health coaching, incentives tied to making lifestyle changes and tools for tracking and reducing health risks, among others.
The KKR and AHA study will examine the overall impact of wellness programs on employees' health, as well as the effectiveness of the tools and incentives used at these KKR portfolio companies.
Currently, KKR's companies are responsible for designing and paying for the vast majority of healthcare for those under age 65. An estimated 25 to 30 percent of the companies' annual medical costs are spent on employees with major risk factors for chronic diseases, such as heart disease, stroke and diabetes. The most common risk factors include cigarette smoking, obesity, hypertension, dyslipidemia and physical inactivity. Research shows that many of these can be reduced through providing information on wellness and changes in lifestyle.
As previously reported by Healthcare Finance News, a majority of employers that measure the performance of their employee wellness and value-based healthcare programs show a return on investment (ROI). According to research published by the International Foundation of Employee Benefit Plans (IFEBP), for example, a significant number show savings of $3 or more for every dollar spent. IFEBP's research found that among employers who measure their ROI, 84 percent of them are achieving healthcare savings.
Employees at the participating portfolio companies will gain access to educational tools and support resources including a "My Life Check" wellness portal to help them improve and maintain their overall health. The tools will supplement existing wellness efforts already underway at participating companies with the goal of providing more resources and a greater impact for employees.
"Our hope with this collaboration is to ultimately improve workplace wellness by helping individuals build healthier lives free of cardiovascular diseases and stroke," said Donna Arnett, AHA president, in a written statement. "By gaining research and insights on which elements of workplace wellness programs are most effective, we can help provide employees the resources they need to live healthier lives and improve their quality of life."