You probably know that employee turnover is expensive and can lead to a lack of continuity. But you might not be aware of how much it costs your company every time an employee walks out the door.
The cost of replacing an employee goes beyond just the cost of recruiting and training a replacement. When you calculate the amount it costs your business to replace an employee, you need to include:
- Lost productivity — The longer it takes to replace someone, the more money you lose in productivity while the job sits empty or is filled by a temporary worker.
- Training costs — It costs money to hire, train and onboard new employees. The more you have to do that, the more money you lose.
- Lost knowledge — Every time someone leaves your company, you lose some of the institutional knowledge they carried in their heads about customers, procedures, culture and more.
- Demoralization for the rest of your staff — If you’re constantly having to hire new people, it might seem like no one wants to work for you — or that there must be something wrong with your company culture if so many people leave so quickly. This kind of thinking can spread like wildfire through your office, leaving everyone feeling unsettled.
- Diminished team cohesiveness — When there’s frequent turnover, it’s difficult for workers to form close relationships with one another or feel like they’re part of a cohesive team. This can lead to frustration or resentment among employees who have been with the company for longer periods of time and result in less collaboration among teams.
What is remote therapeutic monitoring?
Remote therapeutic monitoring (RTM) refers to the use of telehealth technology to monitor and manage patient care at a distance. This technology allows patients to send information about their health status to a provider, who then uses this information to adjust patient care accordingly.
Remote therapeutic monitoring can be used for both chronic and episodic conditions, such as cardiovascular disease and diabetes, but it has particular benefits for people with chronic conditions. In addition to reducing hospital readmissions, RTM can help reduce the need for in-person clinical appointments and increase medication adherence.
How can Agile Virtual Physical Therapy’s remote therapeutic monitoring help my company?
RTM is a cost-effective way to motivate patients to take an active role in their care, boost adherence to treatment plans and provide more comprehensive care without requiring them to travel. RTM can also reduce health care costs and improve outcomes.
Here are three ways you and your employees can benefit from RTM:
- Lower health plan costs — Chronic conditions are responsible for the majority of health care spending, but with RTM, employees can receive the support they need at lower costs than in-person visits.
- Reduced absenteeism — RTM not only saves patients time and money by eliminating the need for in-person visits, but it also helps keep chronic conditions under control so employees don’t miss work due to illness or fatigue.
- Improved productivity and engagement — RTM allows for early detection of employee health issues before they worsen and affect performance at work. Employers can also use RTM technology to survey employees about their satisfaction with their benefits package, health plan or health management programs that include RTM. Such surveys can help identify opportunities for improvement that will further boost employee satisfaction and engagement.
Telehealth technology has gained acceptance by physicians, patients, and employers as a viable option to monitor patients outside of the hospital and physician’s office.
The positive trend toward telehealth continues to gain momentum due to its proven clinical outcomes. Physicians are able to remotely monitor patients, assess their treatment effectiveness and adjust their regimens accordingly to achieve optimal results.
Agile Virtual PT is ready to establish RTM for the overall benefit of your company
One of the greatest telehealth benefits is the ability to monitor patients in real time from any location. This allows for more efficient use of care team resources and enhanced collaboration. If you see the value in remote therapeutic monitoring for lowering health plan costs, cutting the cost of absence, and improving productivity and engagement, that’s where Agile Virtual Physical Therapy comes in.
Contact our team today for more information or to schedule an initial appointment.