Volpp believes that regret was an important force in the lottery portion of the study.
FORBES: Helping Employees to Be Healthier: How About a Sweepstakes?
The system could make sense for insurance companies and workplace weight-loss programs, says Dr. Volpp.
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That said, Volpp encourages employers to roll out lottery programs carefully, and to constantly monitor their effectiveness.
FORBES: Helping Employees to Be Healthier: How About a Sweepstakes?
At least in the short term, financial rewards can provide strong incentive to ditch bad habits, says Dr. Volpp.
CNN: When money's at stake, dieters have more weight-loss success
According to Volpp, employers should think about behavioral economics whenever they are trying to incentivize healthy habits in the workplace.
FORBES: Helping Employees to Be Healthier: How About a Sweepstakes?
Will those incentives help employee health, asks Volpp, or simply penalize those whose socioeconomic status and environment make them more vulnerable?
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Dr. Volpp says he has no reason to believe that women would have a tougher time with a rewards-based program than men.
CNN: When money's at stake, dieters have more weight-loss success
Volpp and behavioral scientists are experimenting with approaches that incorporate incentives which might prod patients to take their medications before they stop.
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"A large percentage of people have employer-based or categorical insurance, and there are no tangible incentives for them to get healthy, " says Dr. Volpp.
CNN: When money's at stake, dieters have more weight-loss success
There will be more companies using similar approaches, Volpp predicts.
FORBES: Helping Employees to Be Healthier: How About a Sweepstakes?
Meanwhile, the success of the study done by Volpp and his co-authors prompted the company that participated in it to permanently adopt the lottery as an incentive for HRA completion.
FORBES: Helping Employees to Be Healthier: How About a Sweepstakes?
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