HealthyWage—a purveyor of corporate and team-based weight loss challenges and financially-induced diet contests for individuals, recently announced extraordinary company milestones that further validate its innovative “weight-loss wagering” approach and underscores the enduring demand and efficacy of the “dieting for dollars” paradigm. For one, in 2017 the company’s membership base grew more than 340% over the year prior, with more than 300,000 current program participants. For their weight-loss achievements that collectively exceeds an astounding 1 million pounds, HealthyWage has paid dieters over $10,000,000 cash since its inception in 2009.
To date, HealthyWage has helped over 1,000 people lose at least 100 pounds; over 5,000 people lose at least 75 pounds, over 10,000 people lose at least 50 pounds; over 25,000 people lose at least 25 pounds, and at least 100,000 people lose at least 10 pounds. Also exemplifying the power of HealthyWage’s approach, weight loss was realized in an average of 13 months for those shedding over 100 pounds, 9.3 months for those shedding over 75 pounds, 7.2 months for those shedding over 50 pounds, 3 months for those shedding over 25 pounds, and just 1 month for those shedding over 10 pounds. Through its website, HealthyWage.com shares an array of inspirational success stories of both women and men who gained financially for their pound-shedding achievements using the company’s unique gamification approach.
Also a prolific corporate wellness purveyor, since 2009 HealthyWage has worked with an array of hi-caliber participants on workplace and staff wellness initiatives, including CSX, Baltimore School District, and Halliburton. HealthyWage has, in fact, formally created competitive, cash-fueled programs for more than 90 Fortune 500 and other public and private companies, hospitals, health systems, insurers, school systems, municipal governments and other organizations throughout the U.S., and their program has been more informally run at more than 3,000 companies and organizations seeking to bolster staff health and well-being, and boost bottom lines in kind.
HealthyWage is founded on research and “double-incentivization” methodology that proves cash rewards triple the effectiveness of weight loss programs. “Studies show that monetary incentives serve to enhance the effectiveness of, and duly complement, weight-loss programs of any and all sorts, especially when paid out quickly like our various programs,” said HealthyWage co-founder David Roddenberry.
The company’s diet-for-dollars program allows participants to make a wager upfront ranging anywhere from $20 a month to as much as $500. Participants then commit to a specific amount of weight loss in a specific time frame, for which they’ll receive a cash prize payout if they achieve their goal in the allotted time. “The average participant roughly triples their investment if they are successful at achieving their goal. The financial upside potential is impressive,” Roddenberry says.
Substantiating HealthyWage’s approach, recent study findings published in the journal Social Science and Medicine, continue to prove that money is an effective motivator to “increase both the magnitude and duration of weight loss.” The same hold true in business for staff wellness initiatives. Results from one study published in the Annals of Internal Medicine indicated that “’Loss Incentive’ Motivates Employees to Take More Steps,” finding that financial incentives framed as a loss were most effective for achieving physical activity goals.
“These studies, and throngs of others, reiterate the importance of the ‘stick’ in the design of a wellness incentive program, whether for individuals at home or for employee groups,” notes Roddenberry. “Many studies have demonstrated that the threat of losing something of value is much more effective than the opportunity to win something of equal value. That’s precisely why we advocate that program participants ‘pay to play’ and make an investment out of their own pocket in order to win rewards—in our case large cash prizes—for losing weight and getting more active in the program.”
Those interested in learning more may do so online at www.HealthyWage.com.
Industry-leading health and wellness, HealthyWage, provides cash incentives, social and expert-based support, tools and resources, and goal-setting and tracking technologies to address our nation’s obesity epidemic and improve America’s collective health. HealthyWage is at the forefront of the weight wagering movement, having formally created competitive, cash-fueled programs for more than 90 Fortune 500 and other companies, hospitals, health systems, insurers, school systems, municipal governments and other organizations throughout the U.S., and their program has been more informally run at more than 3,000 companies and organizations. The company was founded in response to academic research that proves even small cash rewards triple the effectiveness of weight-loss programs; that people are more effective at losing weight when their own money is at risk; and that social networks play a large role in the spread of obesity, and will likely play a large role in reversing obesity.