Bupa Global, the international insurance arm of the UK-based, privately-held health insurer and healthcare giant, Bupa, is offering its corporate clients a type of “health scorecard” that it says enables them to create for their employees “an inventory of health and well-being best practice, benchmark their performance, and understand how they can improve over time”.
Bupa’s so-called “HERO Health and Well-being Best Practices Scorecard” – available in English, Spanish and Portuguese versions – has been designed to “help businesses evaluate their health and well-being programmes, compare results with other companies, and track [their and their employees’] progress”, according to a Bupa Global statement detailing the new scheme.
It says that tests in the US have shown the scorecard to be successful in helping employers to spot trends developing in their corporate healthcare costs – and in some cases, to actually quantify “significant reductions in inflation-adjusted healthcare costs” among high scorers.
It has even been associated with improved company stock value performance, based on the US data since its creation in 2006, Bupa says.
“In addition to using the Scorecard to create an inventory of health and well-being best practice, organisations can compare their programmes to [those of] other businesses, by correlating their scores against the aggregate of all businesses in the database,” it adds.
“They can also compare their score to similar employers based on industry, size, geographic location, employee demographics or other criteria”.
‘Way to measure health initiatives’
Patrick Watt, Bupa Global’s commercial director for Europe, says the scorecard’s great benefit to employers is that it can enable them to “appreciate the commercial and strategic value of workplace health initiatives”, which few typically do, even though employees increasingly are looking to their employers “to play an active role in their health and wellbeing”.
Bupa’s involvement with the HERO programme, he adds, was a way of “[giving] our customers the means to measure and report on the impact of the workplace health programmes they have implemented”.
Information about the HERO Scorecard programme may be found by clicking here.
Founded in 1947
Bupa was founded in the UK in 1947 by the coming together of a number of provident associations and hospital contributory schemes. It was initially known as the British United Provident Association although, as it says in a history on its website, it “was never actually a provident association itself”. By July 1948 it says it had 38,000 customers “and an 80% share of the private health insurance market” in the UK.
It remains privately held, and has expanded from health insurance in the UK to include privately-run Bupa hospitals, as well as internationally, so that it’s now one of the world’s largest providers of health insurance and healthcare.
In addition to London and Brighton in the UK, it has offices in Miami, Copenhagen, Dubai (in partnership with Oman Insurance Co), and Hong Kong, as well as regional offices in Mainland China, Singapore, Egypt, Mexico, the Dominican Republic, Bolivia, Brazil, Panama, Guatemala, Ecuador, and – since the acquisition of Brazil’s Care Plus at the end of 2016 – Brazil.
Bupa Global, Bupa’s international health insurance arm, today looks after some 2 million clients.