There is no shortage of apps and digital tools to help patients manage chronic conditions and remind them to take their medications. But the best-designed technology only works if patients actually use it.
Los Angeles-based Wellth develops app-based digital health programs that use financial incentives and behavioral economics strategies combined with a consumer-grade smartphone experience to improve adherence to patients’ care plans.
The approach is resonating with patients. More than 90% of Wellth's members interact with its app daily, leading to significantly improved health outcomes for its members, the company claims.
Launched in 2014, the company's growth has been driven by its strong results and outcomes. Wellth’s health plan and provider clients have measured significant cost savings, and Medicare Advantage plans have achieved higher star ratings, according to CEO and co-founder Matt Loper. Wellth reports that health plan and provider clients have seen a 42% average reduction in inpatient utilization, a 29% average reduction in emergency department utilization and a 16% improvement in medication adherence
Wellth reeled in an oversubscribed series B fundraising round of $20 million led by SignalFire. The company has raised $40 million to date.
The company plans to use the fresh capital to invest in the behavioral science engine behind the app and to grow its teams. Loper and co-founder and Chief Technology Officer Alec Zopf have their sights set on propelling...
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