Israeli Startup Medorion Provides Top Ten U.S. Health Insurers Unrivaled Level of Member Understanding with Comprehensive Behavioral Intelligence Tools
Emerging from Stealth Mode, Medorion Shares Data Highlighting Impact of its SaaS Platform on Improving Plans' Health Delivery and Financial Outcomes
TEL AVIV, Israel – May 25, 2021 – Medorion, developer of behavioral intelligence SaaS solutions for health insurers, has released new data showing its software platform has brought double-digit enrollment, 1-star gains in several Part D measures, and increased retention rates to top health insurers across the U.S, over the last 18 months.
“The aggregation of individual patient insights to positively impact group behavior is of tremendous value for health plans, strongly aligned with value-based, population health objectives. Medorion’s platform uniquely helps insurers continuously and efficiently manage enrollment and healthcare outcomes,” said Michael Laskoff, Founder and former CEO of AbilTo (acquired by Optum – a subsidiary of UnitedHealth Group), Chairperson of City Health Works, Board Member of Visiting Nurse Service of New York, and Board Member of Medorion.
Medorion’s technology combines behavioral science and AI to create for each member a unique Electronic Behavioral Record (EBR™), the behavioral equivalent to electronic health records (EHR). Analyzing claims and social determinants of health (SDOH) data, the software accurately pinpoints the underlying psychological drivers and barriers behind people’s health decisions, enabling insurers to address those factors on a personalized level and motivate health-supportive action. The platform includes a variety of clinical, risk adjustment, operational cost and marketing applications to facilitate effective individualized communication at scale.
Following are recent highlights of Medorion’s impact among top health insurers:
The Medorion platform includes more than 500,000 Medicare Advantage members across multiple health plans. These implementations enable the plans to achieve double-digit spikes in areas such as Medicare Advantage Members enrollment and retention, and various Healthcare Effectiveness Data and Information Set (HEDIS) and Medicare drug coverage (Pard) D measures.
In 2020, a top 10 U.S. health plan attributed a 1-star gain in several Part D measures directly to Medorion. With +75% Medicare Advantage (MA) member engagement rate, the solution yielded a 1.5% medication adherence increase (vs. 1.3% decline in control group).
Between 2019 and 2021, Medorion more than doubled retention rates for a top 10 U.S. health plan. At the same time, new member acquisition increased by 150%.
“Similar to the world’s leading eCommerce companies, Medorion provides the capabilities and insight so health plans truly understand what influences individual behavior to engage with members more personally, at scale,” said Asaf Kleinbort, co-founder and CEO of Medorion. “Over the past four years, we’ve built the most comprehensive and intuitive behavioral intelligence platform for health plans. Ours is the only solution that provides direct, fully transparent access to EBRs and scalable tools that allow for more qualitative and personalized communications that result in clear clinical and financial outcomes. It’s a win-win approach for both members and payors.”
Medorion’s behavioral intelligence software provides health insurers with an in-depth understanding of members and their concerns, enhancing health plans in all areas pertaining to human behavior. Utilizing behavior-based insights, the Medorion platform enables payors to personalize and automate one-on-one member conversations at scale, facilitating proactive interactions that improve health delivery and financial outcomes. Used by top U.S. health insurers, Medorion has shown to improve Star Ratings, raise preventative service utilization, improve medication adherence and boost member retention and acquisition rates.
Founded in 2017, the company is led by an experienced team of AI and behavioral science experts and is headquartered in Tel Aviv, Israel.
Read the original article in PRNewswire