HealthNow connects employees to personal wellbeing accounts funded by their organisations so they can buy health services. Photo: Pixabay
The downturn in the economy is helping start-up HealthNow with its growth and expansion plans, as employers look for low cost ways to keep employees engaged.
HealthNow connects employees to personal wellbeing accounts funded by their organisations, with a Mastercard that can be used to purchase the health services they need, such as dental work.
HealthNow was officially launched in January 2024 with 10,000 cards issued to a number of large firms such as Port of Tauranga, Mitre 10 Mega Palmerston North and ACROW Group.
"Adding HealthNow gives our people control and choice over their wellbeing," Port of Tauranga's Rachael Nunn said.
"Our team members can access regular medical checkups on site, or choose to visit their own GP or health provider at a time that suits them. Having options is especially appreciated by our shift workers."
HealthNow founder and chief executive Steven Zinsli said his firm was benefiting from the strength of the New Zealand tech ecosystem with a recent capital raising of $3.4 million to help fund engineering and expansion into Australia.
"We're definitely getting some really quick adoption . . . both in New Zealand and Australia, and that was what supported us to be able to get this capital raise away.
"It wasn't super hard to get the capital, but that's probably also a testament to the speed at which our investing partners moved that through the diligence process, and the way that they were able to build conviction and confidence quite quickly," Zinsli said.
He said the product was popular with employers looking for ways to improve staff retention.
"There's a lot of really interesting dynamics with respect to the cost of living crisis and the way employers are both struggling to attract, recruit and retain talent."
He said the timing of the launch coincided with a time when employers were looking at different ways to retain their staff in an economic downturn.
"As an organisation, you are one of the primary beneficiaries of your people's health and or wellbeing, because when your person is happy, healthy, they more engaged, they're more productive, they're less absent," Zinsli said.
"Why would you not want to put some economic incentives behind or to support people to be able to access healthcare in the way that they need to?"