GlaxoSmithKline (NYSE:GSK) has launched an online resource to help employers improve the health of their workforce and better manage overall healthcare costs. The Center for Value-Based Health Management was developed to assist employers, health plans, and benefit consultants in the design and implementation of employee health management initiatives.
An employee in control of his diabetes might incur $5,000 in costs per year, but an employee who is not could cost up to $45,000 annually with such expenses as emergency room visits and hospital stays. Using value-based health management (VBHM), a cross-disciplinary approach to managing employee health, decision makers use innovative practices that demonstrate the greatest total value by invoking primary prevention, risk intervention, and chronic disease management.
The Center for Value-Based Health Management will enable companies to benchmark current health management practices, learn from best-practice organizations and provide the business rationale for value-based health management initiatives. It will feature podcasts, case studies and news updates.