A cloud based platform for the comprehensive management of health costs
The Health Bank application was designed, tested and implemented into the My Workplace Health® platform for an international client in 2019. The purpose of Health Bank® is to allow customers to easily track all health spending against an individual and any cohort within the workplace.
When Health Bank is activated, our valued clients can craft Health Schemes tailored to their needs, offering a spectrum of choices from Platinum to Gold, Silver, and Bronze programs. What sets each scheme apart? It’s all about personalisation. The scheme amounts are dynamically shaped by the choices made by the Employer, Health Insurer, and the Employee.
Each scheme comes with a set of ‘Health Wallets,’ filled with various health-related expenses. These Health Wallets can be thoughtfully allocated to individual employees. Imagine having the flexibility to spend these resources throughout the year on essential health programs, not just for yourself but also for your beloved family dependents. It’s a win-win for everyone’s well-being!
All-inclusive and powerful reporting enables extensive management of funds.
Users can easily and conveniently benefit from our powerful reporting tool to evaluate their allocation and use of funds.
Dependents are easily incorporated into relevant health programs where wallets are selectively deployed to integrate the specific requirements of individualised packages.
Empowering Financial Control and Insight in Health Schemes
With our solution, as money is used within the Health Schemes, it’s automatically distributed based on the agreements between the Employer, insurer, and individual Employee. Each of these stakeholders gets their own exclusive access to the Health Bank, giving them the power to manage spending and gain deep insights.
This means they can see exactly where those health dollars are going, spot areas where more investment might be needed, and pinpoint crucial “hot spots” like expenses for chronic health medication or health programs.
But here’s where it gets exciting: we offer real-time reporting with all personal information stripped away for privacy. These live reports let everyone involved track health spending over time and spot any trends that might be emerging. And for that extra touch of convenience, we send monthly statements directly to the Employee in a user-friendly PDF format. It’s a transparent, efficient, and engaging way to take control of your health finances!
Track and manage health spends where users are in charge.
