Ivy Hartman: Health is important to small firms, a bottom line in many ways, but few small businesses have a Chief Wellness Officer actually on the payroll. Our guests think that should change. Our guests today, welcome to SBTV.com Dr. Bob Hoffman and Dr. Jason Deitch, co-authors of the book, Discover Wellness How Staying Healthy Can Make You Rich.
And we’re going to tell you a little bit more about how you can implement a wellness program, but really tell us more about Chief Wellness Officer, and what that is?
Dr. Jason Deitch: A Chief Wellness Officer really an evolution that’s been a profession creates a lot of need. Employers are desperately seeking solutions such to how to reduce their health care costs and how to get more productivity out of their employees. Chief Wellness Officers really are degreed professionals oftentimes doctors sometimes DC’s, DO’s and indication holistic oriented MDs that understand the relationship between businesses health, businesses growth and productivity, and their employees health, growth and productivity.
And understands how to create strategies and programs that actually allow both to really meet their needs, so that everybody’s incentives are in the right place and ultimately benefit from staying healthy and being well.
Dr. Bob Hoffman: And I think that was very articulately said, but I would like to take it even further if I can. CWO is a new term for many people certainly many business owners. But CWO, Chief Wellness Officer is like any other C in a company. It could be the CFO, the Chief Financial Officer or the CIO, the Chief Information Officer. This is the individual that you want to have who leads the parade on wellness, whose consciousness, whose action steps, whose attitudes, whose standards are all about improving the overall level of wellness. The wellness quotient inside that company and it’s a very important job because if someone is not leading it, it doesn’t get done.
Ivy Hartman: I understand that effectively, but as a small business owner I’m thinking about the cost of that person, is there really going to be enough work for that person? And am I going to see the return on that having that person if I’ve got a very, very small staff?
Dr. Bob Hoffman: Well, the answer to the question is yes, absolutely, un-equitably yes. But it really depends to someone on what the owner, the CEO wants in a wellness program. It could be something as simple as having a walking club. It could be something as simple as having healthier foods at lunch time. It could be something very basic, but it can grow from that. It could be having game memberships. It could be having a telephonic coaching session that your employees can call toll free and get information on everything from getting off of medications to smoking sensation, to losing weight things of that nature. It could be having someone on board 24 hours a day as part of the company matrix that’s responsible for this process.
And studies have clearly documented that conservatively there’s a three to one return as we’ve seen where studies as high as 15 to one return that every dollar you invest in wellness you get back that kind of return with the average being about six to one return. And you know what, there are a lot of businesses getting six to one return on many things that they do.
Ivy Hartman: No on productivity, you should be the best thing as the bottom line.
Dr. Jason Deitch: In fact, that was the research shows, is that there’s as much as you save your hard cost and decrease medical health year cost. The fact is there’s usually two to three times the savings in the softer cost things like reduced absenteeism reduce presentism. Greater retention and attraction of better employees, the fact is that there is really no better investment in your business than investing in your people.
Ivy Hartman: So if I determine as a small business owner that a Chief Wellness Officers where we’re going to go to implement our wellness program? How much can I expect to spend on something like this?
Dr. Bob Hoffman: Well, it got to depend on how far you want to take it. But the first step is to contact people like us to help consult with you, to set up a Chief Wellness Officer position, so that you know what you do and part of that is interviewing you and finding out what your needs and wants are, and what is the basic prototype employee you have. You know is it an overweight staff, is it an aging staff, is it that staff that has alcoholic issues or smoking issues and we can then help you custom tailor a program. Actually, do a health assessment on each employee, which really helps, create the road map to fix the problem and take you to a level of productivity?
Dr. Jason Deitch: Look, the fact is that this is an evolution. We’re both doctors and we’re both business people, and so we understand both sides of the equation. And we understand what patients, are people need in order to be able to help promote their health and well-being. The fact is there’s never been a more important time for businesses to now engage their people in these types of programs because ultimately everybody went.
Dr. Bob Hoffman: And what’s really interesting is the most recent studies show J.D. Power Study shows that the people their employees listen to about their health the least are their employers.
Dr. Jason Deitch: And their insurance company.
Dr. Bob Hoffman: And their insurance company. Those are the two lowest on the spectrum. The highest on the spectrum are their doctors.
Ivy Hartman: Sure.
Dr. Bob Hoffman: So when there’s a doctor led program. A doctor led CWO it is far more effective, greater level of the implementation, greater level of results and return on your investment.
Ivy Hartman: Than just delegating to somebody else who maybe has an interest in fitness or something. And that’s one of your employees and saying, “Hey, I think I’m going to make you our Chief Wellness Officer, here’s some training to go to. Here’s a book you know and let’s implement it.”
Dr. Jason Deitch: The metaphor that the experts actually used in suggesting that they outsource assisted an outside company is that when the employers implement things like 401k plans employees would be very suspect if they were to implement that plan, but also provide the financial advice.
And so by outsourcing this program it allows them the third party distance to be able to know that they are getting objective advice from doctors and that’s what we’ve taking these programs to the next level. It has been tremendous success in the research we’ve seen has been based on really basic wellness programs. We set a new standard.
Dr. Bob Hoffman: And part of what the CWO is supposed to do is create incentives and rewards for people to improve their level of health and wellness. So that there is that return, and it’s not just a fantasy to help people get healthier. It’s actually having goals, realistic goals, accomplishable goals, and then producing the results that you want because by doing that by driving down health care course and driving a productivity having less absenteeism, less work man complaints, etcetera, etcetera it’s endless. The profitability for the person driving this, the CEO is enormous.
Ivy Hartman: Thank you, gentlemen for being here. Doctors Bob Hoffman and Jason Deitch, co-authors of the book, “Discover Wellness, How Staying Healthy Can Make You Rich”, our guests today and this is a great book. They actually start with it, and motivate you if you have or start a wellness program. And also, you can contact the doctors through their website for more specific on how to contact them and have them consult you.
Dr. Bob Hoffman: At www.discoverwellnesscenter.com.
Ivy Hartman: Discoverwellnesscenter.com.
Dr. Bob Hoffman: Yes.
Ivy Hartman: Thank you again for being with us at SBTV.com where small business is our only business.
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