MAXIS Global Wellness Solution
MAXIS Global Benefits Network (MAXIS GBN), set up by MetLife and AXA in 1998, is a leading international employee benefits network. Its new Global Wellness product is a centralised wellness proposition that utilises comprehensive health analytics to help multinational organisations mitigate healthcare costs. The solution is delivered through corporate employee benefits schemes, and allows multinationals to target country-specific cost drivers identified by health data analytics to deliver in-depth, targeted wellness solutions to employees, MAXIS says.
The product is underpinned by over four years’ global health data analytics, across 37 countries, and the core services include:
Topic specific, educational health and wellness toolkits. These can help employers implement a wellness campaign on education and awareness worldwide, effectively driving global-to-local health management strategies.
A business case modeller. This is used to calculate the impact on benefits spend and productivity resulting from changes in behaviours alongside access to exclusive country reports.
A wellness technology marketplace. Supplied by third party technology suppliers, this delivers global wellness solutions and can be managed globally. It includes:
Telemedicine services with a local network of doctors, operating with both international and local licences. This can help avoid expensive specialist consultations and hospital costs and also have an impact on absenteeism and presenteeism. Employees don’t have to wait for doctor appointments, or face delays in getting immediate appointments, MAXIS says. There are no out of pocket expenses or member share factors such as deductibles or co-payments associated with using the telemedicine services, so employees can save on out of pocket expenses when consulting their physician.
Second medical opinion services to help reduce the spend on preventable surgeries and procedures, as well as providing specialised consultation services when local resources or specialists are lacking.
A mental health helpline offering counselling sessions with a mental health expert. MAXIS says mental health is still seen as a stigma in many countries, so this aims to help those suffering with mental health issues and effectively empowers employees to deal with situations that overwhelm them.
Chronic disease management platform. This offers one to one personalised coaching for managing chronic diseases such as diabetes, hypertension, obesity and cardiovascular diseases. The platform provides a sustained and consistent approach to tackling chronic diseases and includes health risk assessments, personalised recommendations, virtual lifestyle management, coaching services and a chronic disease risk reduction service.
Comment: The IMF’s Economic Outlook Database 2017 said global medical inflation had been running at 8.4% - significantly above the average general inflation rate of 3.1%. In the Middle East & Africa and Latin America & Caribbean, annual medical trends were even higher, at 15.3% and 13.9% respectively.
Against this background, earlier this year MAXIS GBN research found that monitoring employee wellness was a major concern for 70% of multinationals. Higher mental health claims was a particular issue, identified by almost two thirds (63%) of multinationals, yet mental health was still seen as a taboo in many markets.
MAXIS’s solution gives multinationals both the information they need to better understand wellness issues locally and also the tools to best manage those situations.
Working with multinationals is a tough market for the non-specialist, but MAXIS’ solution offers a range of tools to help such firms. Once the underlying risk is managed as well as possible, then insurance solutions can help manage what’s left.
Plus points: A comprehensive wellness solution providing information and tools for multinationals on health and wellness; Includes local level information; A better solution than pure insurance alone.
Not so plus points: This is a very specialised sector and so won’t be on most advisers’ radar; The information does not cover all countries (although it covers most significant markets).
Website: http://www.maxis-gbn.com
Rating (max 10): Innovation: 8. Overall: 8.5. Gold
Tags: Other; MAXIS