Wearable Wellness Technology Going beyond counting steps to impact your employee wellness program

Wearable wellness technology can be as simple as a pedometer used to count steps, or as complex as technology currently being designed and tested by Google’s research unit, Google X, that aims to detect and destroy blood cancer cells. There are wristbands that look like jewelry, watches that track sleep patterns, clothing that monitors heart rate and even smart contact lenses that will someday automatically test blood sugar levels of a patient with diabetes. Whatever the device, one thing is for sure, wearable wellness technology isn’t a fad.  It is a growing billion-dollar industry with an exciting future.

The wearable wellness tech market was estimated to be worth $2 billion in 2011. It is predicted to reach $6 billion by the end of 2016. IMS Research recently reported the rise in wearables from 14 million devices shipped in 2011 to an estimate of 171 million devices to be shipped by the end of 2016.   And while only 16% of the U.S. adult population used some sort of wearable technology in 2015, that number is predicted to increase to more than 33% by 2019.

What does this mean for employers?

Wearable wellness technology has great promise and opportunity for employer wellness programs. Wearables can be personalized to set and track individual goals and they can continuously measure important metrics such as blood pressure or calories burned. The ease of use and accessibility of data made possible by these wearables allow employers to inject fun and competition into once-dull wellness programs. Additionally, wearables foster community and social support as individuals are able to establish networks for accountability and encouragement.   For the employer, the technology offers a measurement paradise complete with data aggregation to monitor progress, quantify program outcomes and offer all types of incentives.
 
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Presrciption Bottle With Pills

Pharmacy Benefit Managers Report Significant Decrease in Trends for 2015

It’s that time of year again, the time when Pharmacy Benefit Managers (PBMs) release their annual drug trend analyses for the prior year.  To the surprise of many, the two largest PBMs in the country, CVS Caremark (CVS) and Express Scripts (ESI), reported 2015 trends at less than half of 2014 trends. CVS reported their annual trend at 5.0% while ESI reported a trend of 5.2%.  Compare these trends to the approximate 12% trend reported in 2014 – a shocker right?  According to CVS, brand-name drug inflation drove to 80% of aggregate drug trend.

Let’s break these numbers down a bit more.  ESI reported that specialty drugs trended at 17.8% while non-specialty drugs trended at -0.1%.  High specialty drug trends are nothing new and are here to stay. You should expect specialty drug trends to remain around 17% and drive an overall drug trend of roughly 7.5% over the next several years.

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Why the Latest ACA Repeal Attempt Actually Means Something

On January 8, President Obama vetoed the bill that would repeal significant parts of the ACA and defund Planned Parenthood for a year. On its face this just seems like another pointless repeal attempt by the GOP, (as they have tallied over 50 attempts at this point). However, this one needs to have an asterisk beside it.

The reason this one is different is because it actually made it to President Obama’s desk to get vetoed.  Why that means something is because most prognosticators believe that Republicans will keep the House and the Senate in the 2016 election so only the White House is really up for grabs.  While Republicans probably won’t have a veto-proof majority in 2017 (just like they don’t now), this proves they don’t need one to get at least a version of repeal to the president’s desk.  So if the president in 2017 is Trump, Rubio, Cruz, Bush (insert name here), then they have proven they will be able to get a bill to repeal significant portions of the law through budget reconciliation to their desk.

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