A Hoosier-grown data analytics company says new research shows businesses save money by helping them keep tabs on the success of corporate wellness programs. Indianapolis-based Springbuk Inc. armed itself with a study that showed 85 percent of employers were considering purchasing wearable devices and approached one of the industry’s biggest names about partnering. In collaboration with FitBit, SpringBuk collected three years’ worth of medical, pharmaceutical and biometric data to show that employers could in fact trim costs by purchasing the technology for its workers. Earlier this year, the company landed a $3.75 million round of finding.
Chief Executive Officer Rod Reasen was joined recently on Inside INdiana Business Television by co-founder Phil Daniels, who said the infusion has already created jobs. Since May, he says Springbuk has added nearly 20 workers, a trend he expects to continue.
Reasen says every employer agrees the health of their employees matters, but his company helps them understand where to invest in their own population. Referring to the three-year study, he said "in this instance, we wanted to look at the efficacy of a device to see did it actually return," Reasen added. The data not only suggested employees’ health improved, but that incorporating the device actually reduced the overall cost of a wellness program.
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