Flu outbreak is costing companies billions

This new flu season is nothing to sneeze at. 

The Centers for Disease Control and Prevention is scrambling to keep up with the ever-rising numbers of people being hospitalized across the country with influenza.

In Boston, according to USA Today, hundreds of confirmed flu cases -- 10 times the total number of last year’s entire flu season -- have prompted  city officials to declare a health emergency.

The CDC estimates that, on average, the flu costs employers and businesses approximately $10.4 billion dollars in direct costs for adult hospitalization and outpatient visits. But this year it is expected to take a larger toll on health – and the economy.

The outplacement firm Challenger, Gray and Christmas says that, along with increased health care costs and widespread absenteeism, sick workers -– worried about keeping their jobs -– are still coming to the office.

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In the current, shaky economic environment, "workers are reluctant to call in sick or even use vacation days," CEO John Challenger said in a press statement. "Of course, this has significant negative consequences for the workplace, where the sick worker is not only performing at a reduced capacity, but also likely to infect others.”

Challenger has some suggestions for companies trying to keep their operations humming despite the flu outbreak:

Designate a "flu czar." One employee can help operations by monitoring the number of people out sick, coordinating requests for leave and informing employees of any company measures to combat the flu outbreak.

Enforce in-office hygiene. Challenger says employees who must go to the office should be "encouraged, if not compelled" to regularly wash their hands and use anti-bacterial wipes on their work areas.  He also suggests companies maintain a 3-foot space between workers during a flu outbreak.

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Allow sick employees to stay home, and have an effective leave policy. "You want to encourage workers to stay home when they are sick so they do not spread illness to co-workers," said Challenger. "You also want them to stay home to care for sick children so they are not forced to go to school and spread the virus to other kids."

Increase the number of shifts.  More shifts will reduce the number of people working in an office at any given time, and reduce potential exposure to the flu.

Allow employees to telecommute and limit in-person meetings.  Don’t gather large groups of employees in a confined space if it isn’t necessary. Also consider meeting via conference calls.

Of course, there are some companies in the healthcare field that may find this year’s severe influenza outbreak presents an opportunity due to increased demand for supplies.

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"We are coming to the point where we are running out of testing supplies," Dr. Ed Ward, at Chicago’s Rush University Medical Center, told Reuters. Rush has already seen nearly the twice of number of flu patients it saw all of last year. 

Companies that could benefit from sufferers' ills include pharmaceutical firms like Novartis (NVS), Sanofi (SNY), GlaxoSmithKline (GSK) and Merck (MRK) that produce flu vaccines, and the makers of pain relief and cough medicines, like Johnson & Johnson (JNJ) and Pfizer (PFE).

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