National, 19 July 2024 – MediBuddy, India’s largest digital healthcare platform, and CII launched a report today, highlighting a significant stride towards digital healthcare adoption and corporate wellness. Titled "Mapping India's Corporate Health and Wellness Landscape," the report highlights that a massive number of job seekers consider employee wellness programs crucial in their decision-making process. This underscores a notable surge in digital health adoption and a growing demand for personalised wellness solutions, reflecting an increasing awareness of how employee well-being impacts corporate performance. This shift signals a transformative evolution in corporate health strategies across India.
India's digital healthcare sector is experiencing unprecedented growth driven by technological innovations, a vibrant startup ecosystem, and proactive government initiatives. Despite the challenges posed by the pandemic, these factors have significantly accelerated the adoption of digital health solutions nationwide. Key technological advancements including AI, data analytics, and 5G are revolutionising healthcare delivery in India, enabling personalised care. The Ayushman Bharat Digital Mission (ABDM), a cornerstone government initiative, aims to establish the world's largest digital health ecosystem, focusing on universal health coverage and robust digital infrastructure.
The report highlights some compelling statistics:
- Alarming Burnout Rates: 62% of Indian employees experience burnout, triple the global average of 20%. Work-related stress, remote work challenges, and poor work-life balance are primary contributing factors.
- Financial Burden of Healthcare: 71% of employees spend an average of 5% of their annual income on out-of-pocket healthcare expenses. This underscores the need for more comprehensive employer-provided healthcare options.
- Dissatisfaction with Current Wellness Offerings: Only 24% of employees feel satisfied with their current workplace health options. This indicates a significant gap between employee needs and existing corporate wellness programs.
- Impact of Wellness Initiatives on Productivity: Companies implementing comprehensive wellness programs report a 22% boost in employee productivity. Organisations with wellness programs see a 14% decrease in medical costs per employee based on healthcare claims.
- Evolving Employee Priorities: 72% of job seekers consider employee wellness programs crucial in their decision-making process. There's a growing demand for personalised prevention strategies and convenient healthcare access.
- Preference for extension of OPD benefits to preferred dependents: Today, more firms are offering benefits that go beyond just IPD insurance, such as consultations, medicines, lab tests and mental health counselling, compared to pre-pandemic days. Extending wellness benefits to dependents, like parents, kids, partners (including same-sex partners), and even siblings. Offering choices in wellness programs attracts top talent and keeps them happy, all without breaking the bank on expensive insurance.
Satish Kannan, Co-founder & CEO, MediBuddy said, “We're witnessing a pivotal moment in Indian healthcare, particularly in the corporate sector. Employee well-being has evolved from a peripheral concern to a core business strategy, driven by technological advancements and a growing recognition of its impact on organisational success. The landscape of employee well-being is evolving rapidly, traditional wellness initiatives, while valuable, are no longer enough. This report highlights a significant opportunity for Indian corporations to enhance their approach to employee health and wellness. This report serves as a roadmap for that transformation, offering insights that can shape the future of corporate wellness in India.”
Insights from the report:
The report emphasises the importance of customised wellness programs based on employee demographics and personalised prevention strategies. Employees seek wellness programs that extend benefits to their loved ones, including dependents, and offer convenient healthcare options like teleconsultations. Today, more firms are offering benefits that go beyond just IPD insurance, such as consultations, medicines, lab tests and mental health counselling, compared to pre-pandemic days.
Employees also prefer adaptable wellness programs that accommodate flexible work options, such as virtual fitness classes and mental health apps. Clear information about benefits and data protection is crucial. Regular surveys can address health issues and measure outcomes. Tech-powered wellness platforms are rising to meet the diverse needs of India's corporate workforce, prioritising preventive healthcare with regular screenings and healthy habits to prevent chronic illnesses, boost overall health, and improve productivity and job satisfaction.
