Automating employee medical benefits

HOMEGROWN startup HealthMetrics is looking to expand its reach as it banks on organisations’ increasing need to automate the management of employee healthcare.

HealthMetrics provides companies with a platform that automates medical claims, tracks employees’ visits to clinics, enables digital Medical Certificates as well as provides real-time data analytics that can be fully integrated into existing human resource (HR) software.

“We saw the need for an automated platform to manage corporate healthcare more seamlessly after many years of working in the insurance and medical claims industry.

“We wanted a more connected and insightful process so that companies would know exactly what they are paying for in terms of their employee’s healthcare and how the benefits are being utilised.

“Ultimately, we want to help companies be healthier, happier and more productive,” says HealthMetrics co-founder and chief executive officer Alvin Yuan.

The startup has also rolled out its employee self-service mobile app, which connects them to 2,300 clinic partners, 300 optical partners, 200 dental partners and over 100 outpatient specialists and hospitals.

Employees will also be able to enjoy cashless medical services, obtain guarantee letters and view their benefit entitlements and balances through the app.

The platform currently serves more than 500 corporate partners with a total of about 100,000 users in its database.

Among the companies registered with HealthMetrics include FamilyMart, Papparich, Estee Lauder, Jaya Grocer, Campbell’s, TNB Energy Services, iPay88, Mr.DIY, Unisteel and Pullman Hotels.

Yuan notes that health benefits have become an increasingly important factor in staff retention.

According to a report by The Society for Human Resource Management in 2018, it was found that 92% of employees place great importance on their benefits in relation to their overall job satisfaction.

However, it noted that nearly one-third of those employees stated that their benefits package was among the reasons they would be looking for a new job in the next 12 months.

While attractive health benefits are important, Yuan adds that HR departments need to make data-driven decisions to ensure they get a healthcare package that best suits their employees’ needs. This is where data analytics can increase transparency between companies and their employees and aid in increasing employee satisfaction.

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