Study Says Worker Vision Benefits Save $4.5 Billion in Healthcare Costs
A study just published by VSP® Vision Care, a 56 million-member non-profit vision benefits and services company, reports that VSP has saved its clients $4.5 billion in potential healthcare expenditures via early detection of chronic eye diseases.
According to the study, VSP’s insurance clients, which include profit, non-profit, and government organizations, realized a $1.27 savings in eye-related healthcare costs for every $1 they invested in coverage.
The study, conducted by consulting firm Human Capital Management Services Group (HCMS), based the $1.27 figure on savings from avoided medical costs and increased employee productivity. By taking advantage of comprehensive annual eye exams offered under VSP’s insurance plan, employees were more likely to catch potential eye problems early, the study said.
It also said the eye exams often help healthcare professionals detect other medical conditions that can lead to absenteeism and lowered worker productivity. “Individuals who have a VSP vision plan are three times more likely to get an annual eye exam than a routine preventive physical,” said Susan Egbert, director of eye health management at VSP Vision Care. “This means VSP providers are more likely to detect the first signs of common chronic diseases like diabetes and hypertension.”
HCMS matched medical data over a two-year period for more than 200,000 members covered by VSP Vision Care. Those data included medical and prescription costs, absenteeism, disability, workers’ compensation, and productivity costs. It compared chronic patients whose conditions had first been identified by VSP Vision Care against with those whose conditions had been detected via traditional means. The study identified more than 9,000 VSP members who were first identified with early signs of diabetes, hypertension, and high cholesterol by a VSP doctor.
To view the study, visit vspeffect.com.