Blueprint Health network startup Healthify has announced that it has closed a $500,000 seed round to help insurers better address patients’ costly social health needs led by a group of angel investors.
Sixty percent of our health is affected by our social needs. Social determinants of health – issues like food insecurity, housing, and substance abuse – that go unaddressed are linked to an additional $85 billion a year in Medicaid spending and poor health for over sixty million Americans. These social determinants all all play a pivotal role in improving the health outcomes of patients.
Founded by a team of John Hopkins alumni, Healthify recognized these issues time and time again while working in Baltimore clinics and were dissatisfied by the status quo. Groups that are financially at-risk for patients don’t have the tools or data needed to manage these issues or meet expanding quality measures under the Affordable Care Act (ACA). The team quickly realized that if we are serious about quality and value in healthcare, then we must be serious about how we address the social determinants of a patient.
How It Works
Designed for use at the point of care, Healthify’s platform helps insurance plans and providers manage, track, and engage with these determinants to improve quality and reduce the cost of care. Patients take a quick questionnaire in the waiting room or with staff to assess their risk for issues ranging from employment status to substance abuse. Based on this assessment, they are referred to the appropriate federal, state, or community services that can treat that need. The care team is then able to follow up by sending interactive text messages through a population dashboard. This approach not only allows case managers to handle more patients but also helps insurers control costs.
Healthify has already inked deals with two large Medicaid managed care plans to help address the social and behavioral health needs of some 20,000 patients in New York and Maryland. The platform is currently offered in both English and Spanish.
“Healthify is really excited to have a tremendous group of investors backing us,” said Manik Bhat, Co-Founder and CEO of Healthify. “This seed-round allows us to help managed care plans better care for their members’ needs by integrating a more robust analytics solution into our platform. Social needs are healthcare’s blindside and we are well on our way to fixing this problem. ”
To learn more about Healthify and request a demo, visit http://www.healthify.us.