Enjoy The Work is excited to announce the recent addition of population health management leader, Spark360, to its portfolio.
Spark360 provides world-class population health management expertise and strategy to companies that offer self-insured health plans. Through Spark360, companies enjoy healthcare savings, while employees enjoy improved health, happiness, and healthcare guidance.
Choosing to self-insure is a big business decision. When managed properly, a self-insured company can save substantially on health care costs. Instead of paying monthly premiums to a third party that charges both for actuarial risk and additional profit, a self-insured company assumes the risk instead. And if employee health is maximized and claims are kept to a minimum, the case for self-insuring is a strong one.
Spark360 knows this all too well, and they’ve successfully navigated a tricky puzzle – one that involves bringing together three parties (self-insured companies, benefits brokers, and employees) into one integrated system. They do so using a system they’ve dubbed the (3C)t Method.
(3C)t consists of four elements: Consulting, Coordination, Coaching, and Technology. The first of which represents a company’s first step towards a well-oiled population health management program.
Spark360 has a team of expert consultants who work directly with companies to deliver customized plans for improving employee health and subsequently reducing employer risk. They collect data and talk to relevant figures (often CEOs, CFOs, CHROs), in order to lay the groundwork for each employer-specific strategy. From there, an implementation plan is created.
The Spark360 team then creates a communication and engagement strategy for employees to make sure they actively understand and participate in the program. This process is covered in the Coaching and Coordinations stages of 3C(t). The goal here is to focus on preventative health measures, behavioral change, and general knowledge and understanding of the health benefits provided.
Much of this process is purposefully done on a human-to-human basis. Through plenty of research (and 20 years of first-hand experience), founders Jordan Taradash and Chris Downie know that real relationships with health practitioners is key to plan adoption.
But by infusing technology into this process as well, adoption becomes even more successful. It’s the mix between human and tech touch points that ultimately gives Spark360 its competitive edge.
Each participating employee is given access to a portal where they can set and track goals, read articles, watch videos, access a supportive community, and participate in Spark360’s gamification system. Some companies offer rewards based on this system, leveraging the benefits of keeping employees healthy and healthcare costs down.
“When a company adopts one of our plans, we have coaches and navigators on-site regularly,” says Spark360 co-founder, Jordan Taradash. “These professionals form personal relationships with employees. Combined with the technology side of our offering, we’re able to deliver a fully-integrated solution that produces inordinate levels of engagement.”
Benefits brokers are to gain too, as Spark360 offers a new, easy-to-deploy solution. Before, brokers would have to cobble together a series of unintegrated vendors to create a disjointed plan. That, or spend a tremendous amount of money creating a department within the company. Now, they can just turn to Spark360 to do the legwork.
“Our solution serves a handful of different parties, but the real reason we’re in this business is to serve the employee, the human being,” says co-founder, Chris Downie. “We want to maximize and support the well-being of millions of people.”
Enjoy The Work partner Ned Renzi is inspired by what Jordan and Chris have achieved, and he believes this is just the beginning. “Spark360 sits at the middle of a hugely important trilateral dynamic,” he says. “As the company continues to integrate and perfect its offering, I expect we’ll see exciting new opportunity for growth and expansion.”