How healthy is your business? To achieve sustainable gains in productivity and profitability, businesses will need to focus on maintaining and improving health, and streamlining the incentive services they offer. And, bundled health services will increasingly provide a key point of differentiation for the customers and employees of financial institutions.(PRODUCTIVITY AND PROFITABILITY)

Publication: Journal of Banking and Financial Services

Publication Date: 01-AUG-05

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COPYRIGHT 2005 Australian Institute of Banking and Finance

The focus of health care in Australia is shifting away from traditional indemnity health insurance towards disease prevention. With growing concern and public awareness about national obesity levels and other serious health-related problems, there is an increasing emphasis within business on health management as the key to better health and sustainable business performance.

To achieve sustained growth in productivity and profitability, businesses will need to focus on maintaining and improving health, and streamlining the incentive services they offer. This is where there is likely to be a marked change in the future, with increasing synergy between the services provided by different industries. A health component will be a key value-adding element of these services.

Health's added value

Many of the issues facing the banking and finance industry are similar to those of indemnity insurance--engaging the young and healthy, anticipating the needs of the elderly as they make the transition into retirement, and preparing for an ageing population.

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