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The Health Transformation Alliance and Welltok Select Livongo as First Marketplace Partner
March 26 2020 PR Newswire
DENVER, March 26, 2020 /PRNewswire/ -- As the number of health and wellbeing programs continues to grow, large employers are increasingly challenged to organize and manage these programs for their employees. To streamline the selection, contracting and implementation process, the Health Transformation Alliance (HTA) and Welltok, its consumer engagement platform of choice, are creating a curated marketplace of these programs on behalf of the over 50 HTA Member/Owners across the nation. Today, Livongo Health, Inc. (NASDAQ: LVGO), the leading Applied Health Signals company empowering people with chronic conditions to live better and healthier lives, was announced as the first health and wellbeing partner to be selected for the new marketplace.
"We are excited to introduce the marketplace starting with Livongo's Diabetes, Hypertension, Diabetes Prevention, and Weight Management programs," said Robert Andrews, HTA chief executive officer. "Our goal is to build out the marketplace for our Member/Owners with programs focused on key high-cost areas – starting with diabetes management and prevention; musculoskeletal; and expert medical opinion services."
With more than 30 million Americans living with diabetes1, driving a 2.3x greater annual medical spend2, HTA Member/Owners identified this as their priority area of focus. Livongo was selected for its comprehensive approach to chronic condition management and proven success working with over 800 organizations, including over 30% of Fortune 500 companies, as of March 2, 2020.
Livongo's Members are provided cellular-enabled devices, free and unlimited supplies, access to integrated continuous glucose monitors, real-time health insights through Health Nudges™, and 24x7 support from certified health coaches. Livongo's programs have demonstrated measurable and sustainable clinical outcomes at scale with the average Member reducing HbA1c by nearly one percentage point. A recent scientific study also demonstrated how Livongo drove a 5.8% decrease in medical spending in one year for two large self-insured Fortune 50 companies3.
"With the world focused on COVID-19, it's more important than ever to make it easy for people with chronic conditions, who are more at risk, to have access to solutions that allow them to manage their conditions outside of physician offices and hospitals," said Livongo Chief Executive Officer Zane Burke. "With remote patient monitoring and 24x7 telehealth access to our Certified Diabetes Educators and other health coaches, Livongo provides the right solution at the right time. We are excited to be named by HTA and Welltok as the first company in the curated marketplace, making it easier for leading employers to select and deploy our proven chronic condition management solutions to their employees."
"Now, more than ever, it is essential to support all aspects of employees' health and wellbeing with highly relevant and easily accessible resources and support. We are well-positioned to rapidly and effectively deploy critical communications and essential benefits through our employee engagement platform," said Scott Rotermund, Welltok's co-founder and chief growth officer. "Together with the HTA, we've created a process to identify and implement best-in-class programs, with the long-term goal of sharing program effectiveness to lift the industry as a whole."
This partnership will address the challenge of identifying, vetting and consolidating program partners for benefit professionals at the HTA Member/Owner organizations. Criteria for the marketplace selection process include the ability to drive meaningful outcomes with an emphasis on improved health, cost reduction, a user-friendly experience and a focus on employee engagement. In addition to the initial four key areas, there will be concentrated efforts on behavioral health resources designed to support anxiety, depression and substance abuse. Other types of programs being evaluated include sleep health, maternity, oncology, telemedicine and financial wellbeing.
Programs selected to be in the marketplace will be integrated into Welltok's consumer engagement platform. The platform serves as the single destination for employees to access relevant health and wellbeing programs, as well as incentives that their employer may offer for participation.
To support this HTA marketplace, Welltok will apply experience it has from building out its Connect Partner Ecosystem currently leveraged by other health plan and employer clients. "For years, we have delivered a data-driven personalized experience for millions of consumers across the nation," added Rotermund. "We are honored to continue expanding this reach with the support of the HTA and new partners like Livongo."
About Livongo
Livongo empowers people with chronic conditions to live better and healthier lives, beginning with diabetes and now including hypertension, weight management, diabetes prevention, and behavioral health. Livongo pioneered the category of Applied Health Signals to offer Members clinically-based insights that focus on the whole person and make it easier to stay healthy. Using its AI+AI engine, Livongo's team of data scientists aggregate and interpret substantial amounts of health data and information to create actionable, personalized and timely health signals delivered to Livongo Members exactly when and where they need them. The Livongo approach delivers better clinical and financial outcomes while creating a different and better experience for people with chronic conditions. For more information, visit: www.livongo.com or engage with Livongo on LinkedIn or Twitter.
Health Transformation Alliance
The Health Transformation Alliance (HTA) is a cooperative of more than 50 of America's leading employers that have come together to fix our broken healthcare system. With responsibility for more than 7 million covered lives and a collective annual health care spend of $27 billion, the member companies of the HTA have combined their resources, knowledge and experience to transform the way health care is delivered. To that end, the HTA has developed value-driven solutions in Data & Analytics, Pharmacy, Medical and Consumer Engagement specifically designed to improve patient care and economic value.
About Welltok
Welltok is a consumer activation company that drives individuals to take actions that optimize their total wellbeing. Only Welltok leverages advanced analytics and machine learning to engage consumers with timely and relevant multi-channel, personalized resources and incentives. Our solutions integrate data driven SaaS software, curated resources and professional services to help health plans, employers, providers and public entities drive growth, build longitudinal relationships and improve healthcare value. Follow us on Twitter @Welltok.com
CVS Health Expands Point Solutions Management with New Health and Well-being Benefits and Comprehensive Evaluation Process
March 11 2020 PR Newswire
WOONSOCKET, R.I., March 11, 2020 /PRNewswire/ -- CVS Health (NYSE: CVS) today added five new health and well-being point solution vendors to its Point Solutions Management service following a comprehensive clinical, security and business evaluation process. Point Solutions Management is a full-service offering that enables CVS Caremark pharmacy benefit management (PBM) clients to simplify contracting, secure lowest price and monitor ongoing performance of third-party health care point solutions, which can help maximize their benefits program while minimizing associated spend. Newly added point solutions address health care costs and support clinical outcomes in key areas, including chronic condition management, musculoskeletal health, stress reduction and mental health management, and caregiver support.
"Plan sponsors increasingly see the value in health care point solutions for improving workforce productivity, satisfaction and overall well-being, however with so many options on the market, it can be challenging to identify trusted solutions that best meet the needs of their members," said Sree Chaguturu, M.D., Chief Medical Officer, CVS Caremark, the pharmacy benefit management business of CVS Health. "We have analyzed pharmacy and medical claims to identify where these benefits can make a difference and employ a rigorous and transparent evaluation process to assure that any vendor included in Point Solutions Management meets high standards for safety, quality and user experience at the vendor's lowest price in the marketplace."
More Solutions to Meet Client and Member Needs
Five new solutions are now available through Point Solutions Management, in addition to Sleepio, a personalized digital sleep program from Big Health, which was the first participating point solution when the service launched as Vendor Benefits Management in 2019. New point solutions available to CVS Caremark clients through the service include:
Hello Heart helps members understand and improve their heart health. It offers an FDA-approved blood pressure monitor coupled with an app that tracks blood pressure readings, weight and physical activity, alerts for out-of-range hypertension, and has patient-enabled medication adherence reminders.
Hinge Health, a coach-led digital program for members with musculoskeletal conditions such as chronic back or joint pain. Hinge Health combines wearable sensor-guided exercise therapy with behavioral change through 1-on-1 health coaching and education to reduce chronic pain, opioid use, and surgeries.
Livongo (Nasdaq: LVGO), an Applied Health Signals company, offers an integrated platform and includes diabetes, hypertension, weight management, and diabetes prevention solutions. Livongo provides support through personalized coaching and connected devices including weight scales, blood glucose meters, and blood pressure monitors to deliver appropriate interventions and help improve health outcomes.
Torchlight, a caregiver support solution that guides families through the complexities of educational, financial, social, health, and legal demands related to caring for a loved one, no matter the age, stage, or concern. With a digital platform and team of expert advisors, Torchlight helps reduce stress and enhance caregiving outcomes
Whil, a digital training platform for mindfulness, stress resilience, mental well-being and performance. It addresses 12 different aspects of wellbeing and performance through 5-minute daily sessions and 250+ mini-courses. Users have access to 2,000+ video and audio sessions on demand, reinforced with ongoing tips, exercises and articles to improve employee health and happiness. Rigorous Vetting, Evaluation and Ongoing Performance Management The CVS Health vendor evaluation and selection process starts with identifying the specific areas of health and well-being that meet the clinical and cost management priorities of CVS Caremark clients and where vendor point solutions are most likely to have a positive impact. Each selected solution then undergoes a rigorous clinical, data security, and business evaluation, which includes testing of the end-to-end consumer experience by a team of CVS Health clinicians. Once solutions are adopted by payors, the Point Solutions Management service also provides member eligibility and real-time billing verification and ongoing performance monitoring.
"As a large employer with a diverse workforce, health care point solutions are an essential component of our overall benefits package, but it can be time-consuming and costly to identify, evaluate and contract individually with each vendor," said Kristen Brown, Director of Benefits, JetBlue. "CVS Health's Point Solutions Management helps make the process easier and more efficient." CVS Caremark client JetBlue adopted Point Solutions Management in 2019 to help streamline contracting with point solution vendors and supplement their medical and pharmacy benefits.
CVS Health will continue to expand Point Solutions Management to meet growing client and member needs, including in weight loss, women's health, metabolic health, mental health and other categories that help to address social determinants of health.
CVS Health employees are united around a common goal of becoming the most consumer-centric health company in the world. We're evolving based on changing consumer needs and meeting people where they are, whether that's in the community at one of our nearly 10,000 local touchpoints, in the home, or in the palm of their hand. Our newest offerings – from HealthHUB® locations that are redefining what a pharmacy can be, to innovative programs that help manage chronic conditions – are designed to create a higher-quality, simpler and more affordable experience. Learn more about how we're transforming health at www.cvshealth.com.
Motley Fools 5 Top Stocks to Buy That Can Be 10-Baggers by 2030!
#1... Livongo Health Perhaps the stock I'm most excited about over the next decade is Livongo Health (NASDAQ:LVGO), a medical solutions provider that's primarily focused on helping people with diabetes better control their disease and live healthier lives.
Livongo utilizes copious amounts of data to elicit behavioral changes in patients so they take care better care of themselves. Though diabetics face the prospect of comorbidities developing in conjunction with their disease, it's really a lack of care on their own part that's their worst enemy. This data-driven focus to entice behavioral changes is what sets Livongo apart from other solutions for diabetics.
The U.S. diabetes patient pool is also massive. The Centers for Disease Control and Prevention notes 34.2 million cases (that's over 1 in 10 Americans), with another 88 million people experiencing the symptoms of prediabetes. With Livongo's patient and client growth soaring, and the company nearing a move to recurring profitability, it has a solid chance to become a 10-bagger over the next decade.
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