CloudMD Software and Services Inc. (DOCRF)

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CloudMD Study Uncovers why Employees are not Utilizing Employer-Paid Health & Wellness Benefits when Stress and Burnout are at Record Levels.

Source
https://finance.yahoo.com/news/cloudmd-study-uncovers-why-employees-114500319.html

March 1, 2023 at 12:45 PM

- The study conducted by ANDx Research Group shows that employee’s want more choice, better communication, and support with navigating options and coverage.
- Unlocking the Potential of Employer-Provided Health Benefits.

CloudMD Software & Services Inc. (TSXV: DOC, OTCQX: DOCRF, Frankfurt: 6PH), an innovative health services company transforming the delivery of care, is pleased to share the results of its study conducted by ANDx Research Group.
https://www.andx.co/

Unlocking the Potential of Employer-Provided Health Benefits.
https://www.cloudmd.ca/event/unlocking-the-potential-of-employer-provided-health-benefits/
CloudMD sought to investigate what kind of healthcare benefits employees are using, what services aren’t being used and why, and what could be done to improve utilization. Overall, the study identified a misalignment in the market today between the rise of employee mental health struggles and the limited utilization of support programs offered to them.

Key findings include:
- Employees are feeling more stress and burnout, leading to lowered mental health and productivity in the workplace. Despite this, only 37% of employees are utilizing their mental health benefits. The least utilized services were Paramedical benefits for Mental Health and Employee and Family Assistance Plans (EFAP).

- Employees who used paramedical benefits for mental health support reported greater satisfaction with their benefits offering than those who didn’t utilize them.

- The three biggest barriers to utilization include: confusion around costs and services available, lack of time to participate with the programs offered and wait time to access the services.

- Employees want more choice in services, help navigating their benefits and coverage, proof that the programs work, and a better customer experience with less waiting.

- Younger employees want more choice in services, while male employees wanted more evidence that the programs work.

There is a clear opportunity for companies to increase employee wellness and job satisfaction and thereby reduce burnout and absenteeism by removing the barriers that prevent employees from fully benefiting from the supports offered to them.
“This survey tells us that employees want help in understanding and navigating their mental and physical health benefits. Employers’ investment in health & wellness programs needs to include navigation services to enable people to gain access to care that meets not only their needs, but also their preferences,” said Karen Adams, CEO of CloudMD. “If employees aren’t fully utilizing the care available to them, this diminishes the value that both employees and employers receive, resulting in lower employee satisfaction, deteriorating mental and physical health, and higher rates of absenteeism.”

Karen Adams continued, “We’ve repeatedly demonstrated that health navigation closes the utilization gap and increases return on healthcare investments. Historically this approach was used to navigate complex disability cases. Now we use that same process to help connect employees to the right services and support them throughout their entire journey. Our unique set of services are proven to break down traditional barriers around availability, time, confusion, and stigma and provide the widest choice in access and delivery to meet patients where they are.”
CloudMD will present the study findings and recommendations at the inaugural HRD Wellbeing Summit Canada on March 1st which is bringing together thought leaders and HR innovators from across the country to share their strategies for launching the workplace into the era of wellness.
CloudMD will also present a session with Manulife on implementing TAiCBT in the workplace to improve mental health and disability outcomes.

The HRD Wellbeing Summit Canada will also see presentations from Air Canada, Hootsuite, Cowan Insurance Group, Marriot Hotels, LCBO, RBC Insurance, Ontario Teachers Pension Plan, Starbucks, and many others. The full agenda is available at https://www.wellbeingsummit.ca/

About ANDX
ANDX has been supplying Customer Experience research, reporting, and consulting services for more than two decades working with some of the largest brands across an array of verticals in the US, Canada and around the globe. We have experience managing enterprise-wide Customer Experience programs, measuring multiple moments of truth across and several lines of business. ANDX provides a leading-edge Customer Feedback Management (CFM) platform that enables our customers to analyze results in real-time, together with an account team of industry professionals that become an extension of your team.

About CloudMD Software & Services
CloudMD is an innovative North American healthcare service provider focused on empowering healthier living by combining leading edge technology with an exceptional national network of healthcare professionals. Every day, our employees and health care providers live our values of deliver excellence, collaboration, connected communication and accountability to solve complex health problems. CloudMD’ s industry leading workplace health and wellbeing solution, Kii, supports members and their families with a personalized and connected healthcare experience across mental, physical and occupation health. Kii delivers superior clinical health outcomes, consistent high engagement, and measurable ROI for payers such as employers, educational institutions, associations, government, and insurers. CloudMD is also a market leader in workplace absence management through data-driven prevention, intervention and return to work programs.

In addition, the Company sells health and productivity tools to hospitals, clinics, and other healthcare service providers to empower them to deliver better care.
Visit
https://www.cloudmd.ca/
to learn more about the Company’s comprehensive healthcare offerings.



ON BEHALF OF THE BOARD OF DIRECTORS
“Karen Adams”
Chief Executive Officer