Through partnerships with healthcare providers, Wellth is forecasted to reward chronically ill and low-income members $600,000 for care plan adherence in 2021
LOS ANGELES, CALIFORNIA, UNITED STATES, April 26, 2021 /EINPresswire.com/ — Wellth, a digital health platform designed to improve treatment adherence using behavioral economics, announced today that members earned over $145K in rewards in Q1, including chronically ill and often low-income patients of major healthcare providers. The company is pacing for reward growth in excess of 312% in 2021 over the previous year’s total reward distribution of roughly $400K.
Among Medicaid and Medicare populations, Wellth offers its members daily financial incentives for verifying adherence to prescribed care plans through daily check-ins—including prescribed medications and key metrics like blood sugar, weight, and blood pressure—with the member’s existing smartphone. Members can then redeem these rewards at milestone intervals throughout their program.
For low-income and disadvantaged populations, Wellth’s technology helps members achieve their full health potential, regardless of socially determined circumstances. The keys to the program’s success in promoting health equity are its use of existing technology—such as a member’s phone—to complete the check-in and its flexible, behavioral economics-structured rewards.
While the rewards vary depending on population and program, even small amounts go a long way. For example, in Wellth’s Medicaid populations—which cover one in five Americans—the reward can be the difference between covering the cost of transportation to and from work or paying a phone bill. For Medicare populations–where 25 percent of households have an annual income of less than $17,000, these rewards can go toward necessities such as food and transportation.
Empowering members to choose how and where to spend rewards based on individual circumstances helps reinforce health equity within these populations. Wellth rewards allowed care plan adherent members to purchase:
Groceries & meals (68%)
Household needs (20%)
Vehicle maintenance and fuel (7%)
Home repairs (5%)
“Our mission has always been to encourage the better health of our members,” Wellth CEO and founder Matthew Loper shares. “That means committing to support them in improving health through lasting behavior change—and in improving and enriching their quality of life with meaningful, behavioral economics-based reward systems that begin to address the health inequities so present in our country today.”
About Wellth: Wellth is a digital behavior change company that creates de novo motivation in the highest-risk, least engaged segment of the chronic disease population. Powered by a behavioral economics engine paired with an intuitive, consumer-grade smartphone experience designed to motivate and delight, Wellth rewards members with daily financial incentives for verifying adherence to prescribed care plans. Wellth has implemented commercial programs nationally with provider and insurer partners to improve care plan behaviors for type 2 diabetes, cardiovascular disease, congestive heart failure, asthma/COPD, behavioral health, HIV, substance use disorder, and gestational diabetes.
Learn more at www.wellthapp.com.
Source: EIN Presswire