Can you assist me with this question? You were referred to me.
Consider the following scenario:
You are the worksite wellness manager of a health care organization in tight economic times. You realize the organization must make budget cuts. The worksite wellness program seems to be a money pit, and the CFO is encouraging the organizational leader to have it dropped.
Write a one- to two-page professional letter to the CFO justifying the value of your program. Use a bit of creativity. Address the following in your letter:
- What positive behavior changes due to your worksite wellness program can you show?
- What cost savings can you show?
- How might you change the program to produce better financial outcomes?
Remember, the CFO is finance-oriented, so he or she will want to hear facts that support your justification. Search for articles on this subject to support your statements, and gather statistics that show real dollar-cost savings. Provide complete APA references for your resources.
THE COST OF WORKSITE WELLNESS SCORING GUIDE GRADING RUBRIC
| Criteria | Non-performance | Basic | Proficient | Distinguished |
|---|---|---|---|---|
| Write a justification letter to a CFO using appropriate language and resources. 30% |
Does not write a justification letter to a CFO using appropriate language and resources. | Writes a letter to a CFO, but may not use appropriate language or resources. | Correctly writes justification letter to a CFO using appropriate language and resources. | Writes a justification letter to a CFO using appropriate language and resources, and includes similar case studies. |
| Analyze work site wellness program behavioral outcomes in relation to cost savings to the organization. 30% |
Does not identify behavioral outcomes in relation to cost savings to the organization. | Identifies behavioral outcomes in relation to cost savings to the organization. | Describes at least two behavioral outcomes in relation to cost savings to the organization. | Describes and evaluates at least two behavioral outcomes in relation to cost savings to the organization. |
| Develop a plan of action to address necessary changes in a work site wellness program to appeal to a CFO. 30% |
Does not identify a plan of action to address necessary changes. | Identifies a plan of action to address necessary changes. | Describes at least two plans of action to address necessary changes. | Describes and evaluates at least two plans of action to address necessary changes. |
| Substantiate thoughts and ideas for a CFO audience based on referenced research. 10% |
Does not provide a reference list. | Provides incomplete reference list, or the list is not in APA format. | Provides a partial reference list in APA format, but list may contain errors. | Provides complete reference list in proper APA format. |
Expert Solution Preview
Introduction:
As a health and wellness expert, I have been tasked with the responsibility of preparing assignments and providing guidance to college-level medical students. In this scenario, I have been approached to assist in justifying the value of a worksite wellness program to a CFO who is considering dropping the program due to budget cuts.
Answer:
To the CFO,
I understand the complexity of the budget cuts underway and the need to make strategic financial decisions. However, a worksite wellness program should not be considered a money pit, but instead a vital investment. Firstly, I would like to highlight some of the positive behavior changes created by the worksite wellness program. Since the introduction of our program, employees have reduced their absences, which has resulted in increased productivity, and a more satisfied workforce. Additionally, we have had employees who have quit smoking and lost weight, leading to an improvement in their overall health and well-being.
In terms of cost savings, I would like to highlight that the program has contributed significantly to reducing the cost of healthcare. Participants in our program have shown a decrease in the use of prescription drugs, resulting in over $75,000 cost savings for the organization. Moreover, as employees’ health and well-being improve, there is a reduction in healthcare costs incurred due to chronic illnesses such as diabetes.
To appeal to a CFO and achieve better financial outcomes, it is essential to incorporate changes in the program. One change could be to introduce more technology-based solutions. For instance, incorporating virtual wellness coaching and online tracking tools can be more cost-efficient than hiring in-person coaches. In addition, the program can be structured to reward employees who comply with specific wellness targets, leading to a decrease in healthcare costs.
It is imperative to acknowledge that your primary concern is the organization’s finances, and that is why I have taken up the initiative to support my claims with research and statistics. According to a study conducted by Harvard Business Review, organizations that invest in employee wellness programs experience reduced healthcare costs, improved employee productivity, and a decrease in absenteeism. Furthermore, research conducted by the Institute of Health and Productivity Management reported that for every dollar invested in worksite wellness programs, there is a potential to save between $2.30 and $10.10 in healthcare costs.
In conclusion, as the worksite wellness manager, I believe that the program is an investment that should not be terminated. Rather, the introduction of strategic changes is necessary to ensure better financial outcomes for the organization while improving employee well-being. Thank you for considering my arguments, and I hope that you will re-evaluate your decision.
