Witnessing the rapid advancements in modern medicine, paired with the emergence of wearable technology, mobile apps to monitor personal health and the rise of digital programs to replace traditional health plans -- healthcare remains one of the most progressive industries in the global economy.
Over $2.9 trillion is spent on healthcare annually, with 75% of this spending directly tied to chronic illnesses resulting from preventable behaviors and lifestyle choices. While the volume of workplace wellness programs continues growing exponentially, the success rates have declined, despite a staggering 80% increase in health insurance premiums. This decline in sufficiency is, in part, the consequence of measuring the effectiveness of wellness programs by engagement, not active participation and proven results over time. In an effort reverse the trend, billions of dollars are invested each year into extensive research aimed at creating new products, solutions, programs and health plans to better identify and treat various forms of health-related illness.