NEW: For digital health companies selling to employers, the work to get a renewal starts before the ink on the first contact is dry. Most digital health contracts with purchasers 1-2 years in length, according to Peterson Health Technology Institute (PHTI) data. The short period of time is particularly for employer contracts. "I think there's just this reckoning that employers are having with the number of digital solutions they offer and looking at efficiencies within the solutions they offer.” - Ellen Kelsay, Business Group on Health Spoke w/ Kelsay, Paul Marcotullio and Mindy Fox, plus Chris Deacon and Omar Manejwala, M.D. of Dario and apree health's Jonathan Porter for this one. via Modern Healthcare https://lnkd.in/eqtp9ng5
Gabriel Perna’s Post
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Great article from Gabriel Perna at Modern Healthcare with thoughts where contracts are headed with employers and digital health companies. As Ellen Kelsay from Business Group on Health states, many employers are looking at their landscape of vendors to say "Are all these things actually effective? Are employees engaging with them?" apree's very own, Jonathan Porter states that vendors should be talking about ROI from the onset and willing to tie fees to various outcomes. #digitalhealth #employerhealth #benefitsleader https://lnkd.in/ebRhrxRp
Digital health companies face time crunch with employer contracts
modernhealthcare.com
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Did you know that employers are the largest purchasers of healthcare services in the US? Robert Chamberlain CEO of Applied Health Analytics, explains how health systems can partner with employers to reduce healthcare costs while improving employee health. It’s a win-win. #employercentricpopulationhealthinitiatives #EMRintegration #enhanceemployeehealth #enhancedworkforcehealth #enhancedemployeehealth
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How do employers measure the success of digital health solutions? The PHTI 2024 State of Digital Health Purchasing asked 117 employers this question. The graphic below is a screenshot of the answers in the report. I think this is a good representation of what employers are looking for with any health solutions, not just digital. Any PT practice contracting directly with employers needs to consider all of these factors and have the data to support their value. https://lnkd.in/e4AYNRBc
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The healthcare industry is undergoing a significant transformation driven by digital innovation. Health plans that embrace this change are better positioned to win and retain self-insured (ASO) employer groups. Success begins with a deep understanding of the distinct and sometimes divergent needs of members and employers. By recognizing these needs, health plans can implement innovative approaches that satisfy both employers and members alike. Discover more about these strategies in our latest blog, featuring insights from League and Kyruus Health: https://hubs.li/Q02LhlSw0 #DigitalHealth
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“Utilization is the most frequent metric used to evaluate solutions among employers, followed by the financial impact,” says Ellen Kelsay, CEO of the Business Group on Health, in Modern Healthcare's story by Gabriel Perna on how employers are looking at navigation platforms like Quantum Health to help organize and optimize digital health point solutions as part of a larger health benefits strategy. Employers want a digital point solution that does more than just increase usage – they want a platform that drives utilization while delivering measurable financial benefits through maintaining ROI. With our Preferred Partners™, Quantum Health streamlines the experience to address these needs, making it easier for employees to access leading solutions, further optimizing the employers’ total benefits program. The entire member well-being is supported on one healthcare navigation platform that is continuously evolving to meet new challenges and needs, keeping employers and employees ahead of the curve. Discover how Quantum Health’s streamlined benefits process results in increased accessibility and higher utilization among employees, while maximizing the ROI of your benefits program. 👉 https://hubs.ly/Q02-M-fd0 #EmployeeBenefits #EmployerWellness #HealthcareNavigation
Digital health companies selling to employers are dealing with buyers frustrated by the lack of uptake and return on investment of their offerings.
Digital health companies face time crunch with employer contracts
modernhealthcare.com
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Thank you Modern Healthcare for focusing on this timely topic. Both employers and digital health care companies are struggling with the need to deliver more (from both a utilization and cost impact standpoint) within ever shorter periods. Is that realistic? Do we need to reset expectations in order to truly realize positive outcomes for the end user/employee and the employer that is paying for these benefits? How do we re-focus the discussion and ensure we get everyone on the same page.
Digital health companies selling to employers are dealing with buyers frustrated by the lack of uptake and return on investment of their offerings.
Digital health companies face time crunch with employer contracts
modernhealthcare.com
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Thank you Modern Healthcare for highlighting the current state of purchaser expectations for digital health solutions from our recent Peterson Health Technology Institute (PHTI) "State of Digital Health Purchasing Annual Survey". Purchasers - across employers, health plans, and health systems - are committed to #digitalhealth, with spending set to increase, but are looking for solutions that deliver improved clinical benefits, positive user experience, and return on investment to sustainably adopt: https://lnkd.in/gYRCx9xB
Digital health companies selling to employers are dealing with buyers frustrated by the lack of uptake and return on investment of their offerings.
Digital health companies face time crunch with employer contracts
modernhealthcare.com
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Giving employers power to move the needle in managing healthcare costs will be key to making the markets responsive to the customer. Data Availability and Data Usability are separate and equally important attributes which employers will need to be successful. https://lnkd.in/gfguMUCf
Empowering Employer Purchasers: Recommendations To Support Market Transparency And Health System Performance | Health Affairs Forefront
healthaffairs.org
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Digital health companies are under tremendous pressure to show results. Our Chief Medical Officer Omar Manejwala, M.D. talked with Modern Healthcare about the value of engagement as a leading indicator but the need for realistic timeframes when looking at clinical outcomes. (gated) #digitalhealth #clinicaloutcomes #Dario
Digital health companies face time crunch with employer contracts
modernhealthcare.com
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The Employee Benefit News 2024 State of Healthcare study, sponsored by Quantum Health reveals that employers are increasing digital health tools to lower healthcare costs. While 82% of respondents offer these tools to employees, only 22% fully trust digital health providers as a source for benefits decisions, with utilization data being viewed as the most trustworthy source. Visit https://hubs.ly/Q02ykb1k0 to learn how Quantum Health's #healthcarenavigation is proven to drive sustainable cost savings. Check out more findings from the study: https://hubs.ly/Q02yj_TY0 #EmployeeBenefits
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President, Russo Partners, LLC
3wVery helpful