New Program to Proactively Manage Employee Health and Reduce Healthcare Costs
MINNEAPOLIS--(BUSINESS WIRE)-- Today, Medica, a leading healthcare insurance provider headquartered in Minneapolis, and HealthInsight, provider of the leading value-based healthcare incentive platform announced that they have partnered to deliver a next generation value-based benefit program to Medica’s commercial customers.
Under the agreement, Medica will deploy HealthInsight’s proprietary value-based technology, including personalized scorecards, to its commercial customers with a program that delivers better quality of care and experience for members while reducing medical costs.
The new program allows members to follow the status of their health in a simplified manner by creating personalized scorecards with personalized health actions. The scorecard will also:
Members in compliance with their personalized health actions will be eligible for financial rewards.
Simeon Schindelman, SVP Commercial Markets said, “It is critical to address the challenge of rising health costs which, if left unchecked, cannot be sustained. Our exclusive partnership with HealthInsight allows us to be the only health plan in our market to offer customers an innovative program in which individuals can stay on the path of wellness via a set of personalized health actions focused on preventive care and chronic condition management. Our goal is to decrease healthcare costs and improve employee health.”
“We firmly believe that preventive care is the foundation for staying healthy, and our value-based programs provide the tools and technologies to reduce costs and improve employee health,” said HealthInsight CEO Martin Watson. “In teaming with Medica, we will help empower their customers to make meaningful choices toward leading a healthier life. Medica and HealthInsight share the common goals of delivering improved quality of care and reducing healthcare costs.”
Today, as much as 70 percent of total medical expenses are a direct result of lifestyle choices. In many cases, individuals allow chronic conditions to go untreated until treatment options become limited, quality of life suffers and the financial burden of addressing the disease increases. Using HealthInsight’s preventive care approach, members enrolled in Medica’s new program will be able to take a proactive stance toward health management, make smart choices, and manage their overall health as well as reduce the cost of health care.
Medica is a health insurance company headquartered in Minneapolis and active in the Upper Midwest. With nearly 1.6 million members, the non-profit company provides healthcare coverage in the employer, individual, Medicaid, Medicare and Medicare Part D markets in Minnesota and a growing number of counties in North Dakota, South Dakota and Wisconsin. Medica also offers national network coverage to employers who also have employees outside the Medica regional network.
Medica has the highest accreditation status, Excellent, from the National Committee for Quality Assurance (NCQA®) for its Minnesota Medicaid HMO plans and commercial health plans in Minnesota and North Dakota. Medica’s vision is to become the community’s health plan of choice, trusted for its integrity, respected for its service, and admired for its commitment to innovation and efficiency.
HealthInsight provides a private-labeled health incentive platform to employers and healthcare payers. The administrative platform creates and tracks personalized health actions that are tied to incentives allowing employers and health plans to reward individuals who proactively manage their health. Individuals who complete their personalized health actions are rewarded with enhanced benefits, healthcare premium reductions, monetary deposits into a Health Savings Account or Health Incentive Account and merchandise. A partnership with HealthInsight gives benefit administrators the ability to offer innovative value-based benefit solutions. Through personalized scorecards, online health coaching, and a personal health record, individuals are encouraged to play an active role in managing their health. By promoting early detection and rewarding proactive health management, in conjunction with leveraging extensive data analytics and a sophisticated team of medical professionals, HealthInsight is able to provide a solution to health care that is proven to reduce healthcare costs and improve employee health. For more information, please visit us at www.healthinsight.com.
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