The occupational health field has seen a shift in thinking to include a holistic attitude to health and wellness. PayScale reflected this transformation in the occupational health market when it listed Population Health Manager among the top 10 hottest jobs in 2019 with 157% growth. Population health is more than just a buzzword; it’s a concept that is here to stay.
What is Population Health Management? Population Health Management (PHM) is a fast-growing market designed for the overall well-being of each member of a community. Because of its newness, complexity and various measurements, there is no standard definition of Population Health Management. However, there are several reoccurring themes in the field, which include:
• Improvement of holistic health of a community
• Identification of the medical needs of a community
• Using insightful data collection and analysis as a process of identifying an issue in a community
• Finding the common good of a community at reasonable to low health care costs
While the healthcare providers segment is estimated to account for the largest share of the global PHM market, employer groups are increasingly becoming part of this market. With population health, employers take back control over staggering health premium costs and chronic diseases while creating happier, healthier workforces. Willis Towers Watson, an insurance broker company, illustrates this in a 2015 survey that found nearly 38% of employers either had or planned on developing an onsite health solution. The employers believed onsite health options improved the collective productivity and health and their workforces.
Growing market: PHM has a bright future and is a vastly expanding market. Currently, the U.S. is the largest market for population health in the world due to the rising costs of health care and the prevalence of chronic diseases. The North America PHM market is now forecast to grow to $6.8B by 2022, at a CAGR of 9.6%. One need look no further than the acquisition of Aetna by CVS to see the future of integrated healthcare, big data, and location-based services on population health cost and outcomes.
Examinetics’ services: At Examinetics, we support population health through Workforce Health solutions and our state-of-the-art technology. With our technology, data is transformed into operational intelligence and reports, allowing you to easily identify trends in your workforce. XM Solutions includes employee test histories and trends, departmental facility-specific summaries and HIPAA-compliant data management securely situated in one convenient location.
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This is business-to-business information intended for EHS (environmental health and safety) professionals and not intended for the final consumer. Companies should check the local regulatory status of any claim according to their individual needs, requirements and intended use.