Fact: Patients Forget Up to 80% of What Their Doctors Tell Them, Which is a Major Driver of Unnecessary Costs and Lack of Patient Empowerment
MedEncentive Employs a Patented Incentive System That Leverages the Patient-Physician Relationship to Motivate Your Employees or Health Plan Members to Better Self-Manage Their Health
Insufficient Patient Health Knowledge is a Major Obstacle in Your Efforts to Reduce Costs and Improve Engagement.
Health insurance plans and self-insured employers, struggling to control spiraling costs and engage plan members in their own care, may be overlooking a key factor: patients' lack of health knowledge. When your plan members need health care, the experience can be confusing and intimidating. Patients are exposed to complex, unfamiliar topics at a vulnerable time, and, as a result, retain as little as 20% of what they are told during an office visit.
When patients don't understand their condition or treatment plans, they can't self-manage their health. This results in a host of negative and costly outcomes, including avoidable hospitalizations and emergency room visits.
50%
of chronic patients
do not follow their treatment
regimen
35%
of medications are taken correctly, if at all
We know what it's like to be on the hook for noncompliant plan members.
At MedEncentive, we understand the consequences of patients with inadequate health knowledge. Fifteen years ago, as owners of a self-insured business, we experienced relentless increases in our healthcare costs, while many plan members were either unable or unmotivated to self-manage their health or chronic conditions.
We set out on a mission to better understand this challenge, and to fix it. We realized that, if the doctor-patient relationship could be harnessed in a way that motivated both parties to hold each other accountable for patient self-care, it could lead to healthier behaviors, better outcomes, and lower costs.
A Proven Solution That Motivates Patient-Physician Mutual Accountability
We spent fifteen years building and validating a web-enabled platform that resolves the problem of inadequate health knowledge. Our patented solution financially rewards both doctors and patients for holding one another accountable for educating and motivating patients to better self-manage their health.
Built by behavioral scientists, software developers, engineers, and physicians, with decades of experience in user interfaces, behavioral psychology, behavioral economics, and clinical medicine, our platform delivers proven reductions in hospitalizations and ER visits, and improved compliance with drug regimens. Unlike most cost-containment solutions, our platform delivers results across your entire employee or member population, not just to disease-specific subsets. And best of all, we guarantee an ROI, typically 2x or better.
How It Works
Step 1
MedEncentive beneficiaries visit their physicians. MedEncentive receives corresponding insurance claims, and offers compensation to physicians for prescribing online "information therapy."
Step 2
MedEncentive notifies beneficiaries of opportunity to earn a financial reward for completing online ”information therapy” prescription, issued by their physicians or from office visit claims.
Step 3
Beneficiaries access MedEncentive website to read diagnosis-specific educational article, take brief open-book test, declare adherence or reason for non-adherence to recommended treatments, agree to share responses with physician, and rate physician.
Step 4
MedEncentive transmits notice to health plan to pay physician and/or patient for their participation in the Program.
The Magic
These steps have been carefully configured to invoke a series of psychosocial motivators that have been proven effective to improve health and lower costs, time and again.
MedEncentive Impact
32%
Reduction in hospitalizations
14%
Reduction in ER visits
11%
Reduction in per capita costs
7:1
Return on Investment*
Reduced Hospitalizations, Emergency Room Visits, and Costs Associated with a Web-Based Health Literacy, Aligned-Incentive Intervention: Mixed Methods Study. Journal of Medical Internet Research. 2019;21(10):e14772
*Return on investment varies according to multiple factors, but has rarely been below 2:1.
The Importance of Independent Validation
Every vendor in healthcare promises an ROI, and, in that regard, we're no different. But our approach IS distinct in important ways.
First, we put our fees at risk to guarantee that your organization will achieve positive outcomes against well-defined metrics.
Second, you needn't take our word for it. We have created an industry-first partnership with Validation Institute—the gold standard for independent, rigorous, transparent testing of healthcare vendor claims—to offer an impartial assessment of our program's impact on critical outcomes such as hospitalizations, ER visits, return on investment, and member satisfaction.
To learn more about our partnership, access the press release here.
