The ability to track results, submit and save healthcare receipts, and provide necessary IRS documentation makes MINDBODY Exchange unique in the marketplace.
San Luis Obispo, CA and New York, NY (PRWEB) May 20, 2014
MINDBODY, the leading provider of business management software for beauty, health and wellness, has created a new workplace wellness product, MINDBODY Exchange, mirrored after the company’s own successful wellness program.
MINDBODY Exchange offers employers a program designed to be sustainable by recognizing that each employee has unique healthcare needs. Employees use the nationwide directory to choose the wellness activity that works best for them. If their interest wanes, employees have the freedom to try something new. MINDBODY Exchange offers the largest online network of Integrative Healthcare providers nationwide with over 80,000 practitioners in over 25 different disciplines, from acupuncture to health coaching to yoga.
MINDBODY created this wellness product as a result of its own success using these same tools with their employees. MINDBODY has seen a 4% reduction in insurance rates, 66% of employees participate in the program, and dozens have quit smoking.
“MINDBODY Exchange enables employees to take control of their own health and wellness. At MINDBODY, our wellness program works because it’s not one-size-fits-all,” said Jill Shah, Senior Vice President of MINDBODY Corporate Wellness. “Prevention is the key. Chronic health issues like obesity, diabetes and heart disease are a growing part of our health insurance coverage claims, which can skyrocket in cost. MINDBODY Exchange has helped us combat the effects of these issues—loss of productivity, absenteeism, stress—and we want to share this success with other companies nationwide.”
With healthcare expenditures soaring, recent research shows there is increasing interest in work-based disease prevention and health promotion as a means of improving health while lowering costs. According to a 2013 report conducted by US Corporate Wellness Inc., 75% of healthcare spending is attributed to illnesses that are preventable; wellness programs reduce cost per employee by 25%; and retention of wellness program participants can be two or more times better than non-participants.
With MINDBODY Exchange, employees are not confined to the office or a gym. They can find wellness services in their local community and even on vacation as the platform provides access to a nationwide directory. Additional product features include:
- A mobile app for finding and booking services on the go (MINDBODY Connect)
- An employer-subsidized wellness card to pay for, reward or reimburse activities
- User reviews of listed providers
- A system for requesting doctor referrals
- Compatibility with company Flex Spending and Health Savings Accounts
- Employer dashboard to track employee participation
“The ability to track results, submit and save healthcare receipts, and provide necessary IRS documentation makes MINDBODY Exchange unique in the marketplace,” said Michael Framberger, a Registered Employee Benefits Consultant who advises MINDBODY. “The platform allows any sized business to implement a health and wellness program with minimal cost and effort.”
Companies that add MINDBODY Exchange to their traditional healthcare benefits package provide employees with a more comprehensive way to manage their health. “We are offering employers the other side of the healthcare menu,” said Shah. “Employees want preventive care and already are seeking it on their own.”
According to a 2007 study by the National Institutes of Health, nearly 40% of Americans use some form of Complementary and Alternative Medicine (CAM) in addition to traditional medicine to treat health issues. MINDBODY Exchange facilitates collaboration between doctors and CAM practitioners through a partnership with athenahealth, a leading provider of cloud-based services for electronic health record (EHR), practice management, and care coordination. This integration enables over 38,000 physicians to refer their patients to wellness practitioners through MINDBODY Exchange.
“Our partnership with MINDBODY Exchange puts our physicians at the cutting edge of healthcare by allowing them to track and support care delivery across multiple settings,” said David Harvey, Vice President of Product Strategy for athenahealth. “By collaborating with wellness practitioners, our doctors can build relationships that allow for better treatment of the whole patient.”
For more information, please visit mindbodyexchange.com.
MINDBODY is the leading provider of business management software in the health, wellness and beauty industry. The company's corporate culture has been recognized by Outside Magazine’s Best Places to Work list in 2010 and 2013 and Glassdoor’s Top 50 Medium-Sized Companies to Work For in 2013. The company has also been listed on the Inc. 500/5000 list of fastest-growing companies nationwide for the past six consecutive years. MINDBODY's workplace wellness platform, MINDBODY Exchange, encourages companies nationwide to add preventive healthcare services to their corporate wellness programs—furthering the company's core mission of leveraging technology to improve the health and wellness of the world. Learn more at mindbodyexchange.com.