The average Medicare Advantage plan turns over about 10% of its members every year, and for a 100,000 member plan, that can equate to about $110 million in lost premium reimbursements as well as a decline in Star ratings. This is why retaining members is a top priority among health plans. Welltok’s Medicare Retention Solution has helped leading Medicare plans reduce disenrollment rates by up to 30%, improve disenrollment-related Star ratings from 2.5 to 4 and retain up to $97 million
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Welltok Report: Why It Is Time to Rethink The Patient Journey
It is time to rethink the patient journey. It’s no longer just about how you interact with patients from their first appointment to discharge, but rather the broader ongoing journey to optimal health that occurs largely outside of the provider setting, according to a new survey conducted by Welltok. The "Rethink the Patient Journey" report of more than 1,600 adults found that 84% of respondents would be more loyal to their provider if their overall health and wellbeing were supported outside of
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Why 2018 May Have Been A High-Water Mark for Digital Health Funding
Michael A Greely, Co-Founder & General Partner at Flare Capital Partners
Notwithstanding the quite significant stock market turmoil for publicly traded healthcare companies in recent months, the level of private investment activity continued to be quite strong this past quarter. According to Rock Health, 1Q19 registered just under $1.0 billion of investments made in 61 healthcare technology companies, which while below the trailing two year quarterly average of $1.4 billion, still
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Colorado Access Taps Welltok to Improve Medicaid Member Communication
With Medicaid dollars stretched thin, it’s critical that health plans operate as efficiently as possible. Many plans make costly investments in beneficiary outreach services or technologies that bombard individuals with ineffective communications that they may not even see. But to operate efficiently, Colorado Access (COA), the state’s nonprofit provider of Medicaid programs, is addressing this head on with new communication methods. Today, COA announced that they are partnering with Welltok and
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Welltok Partners with Florida Blue to Create Personalized Wellness for Plan Members
Welltok partnered with Florida Blue to create a digital health and well-being program to help Florida Blue members get and stay healthy. Florida Blue has been focused on wellness programming for years and selected Welltok, recognizing the importance of creating personalized experiences for each member. Florida Blue rolled out the program to all employer groups and Medicare Advantage plan members in the state at the beginning of 2018.The program, “Better You Strides,” provides Florida Blue
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Welltok Raises $75M to Expand Health Optimization Platform into New Markets
Welltok, a health optimization platform for consumer health, announced today that it raised $75 million in a Series E2 funding round with participation from new and existing investors including New Enterprise Associates, Bessemer Venture Partners and Georgian Partners. Participants in the funding round include new investors Future Fund Management Agency, Ziff Davis, NF Trinity Capital (Hong Kong) Limited and ITOCHU Corporation.The latest financing round will carry Welltok through its next phase
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Tea Leaves Health Launches Decisionology Platform
Tea Leaves Health, a Welltok company and leading provider of a SaaS-based analytics and marketing technology platform, today announced the launch of its new high-growth platform, Decisionology. Decisionology is a new enterprise-level healthcare business development and market intelligence platform that empowers and informs hospital and health system executives’ strategic business decisions. Decisionology gathers all of a health organization’s critical data in one place to clearly identify
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Welltok Survey: Americans Most Stressed About Financial & Social Health
The healthcare system has traditionally limited its approach to the physical aspects of health (vitals, biometrics, etc.) But Americans want more than just physical exams: they are hungry for a holistic approach to healthcare. Today, Welltok released its Consumer Health POV 2017 report, a multi-generational survey of 2,000 full-time employees across the nation that revealed Americans struggle with financial, social and emotional health, and the causes and impacts vary by age, region, income and
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Welltok Acquires Tea Leaves Health to Expand Growth in Hospital Market
Welltok, a consumer health enterprise SaaS company has announced the acquisition of Tea Leaves Health, a provider of a SaaS-based analytics and marketing technology platform used by hospital systems to target consumers and physicians with coordinated engagement campaigns. Financial terms of the acquisition were not disclosed. The acquisition will propel Welltok’s growth within the hospital market, while enriching its data assets and product portfolio to better serve all types of population
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HealthPartners Partners With Welltok to Deliver Personalized Health Experience for Members
HealthPartners and Welltok has announced a partnership that will allow HealthPartners to deliver a more personalized health experience for its members. The new health personalization platform will allow participants to create customized health goals (for example, eating less salt or exercising more), and then get rewarded for meeting those goals.The technology will also suggest programs and resources that address emotional and financial health. It will also be linked to their individual health
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