Healthify Secures $500k to Address Social Needs.
A healthcare technology startup founded to help insurers better address patients costly social health needs, Healthify has recently announced that it has managed to close a $500,000 financial round. Healthify is a part of the Blueprint Health network and was founded by a a team made up of John Hopkins Alumni. This recently closed round, which coincides with Healthify’s launch in New York and Maryland, was led by a group made up of angel investors.
Social determinants of health such as issues like food insecurity, housing and substance abuse, that tend to go unaddressed are linked to an addition $85 billion a year in Medicaid spending and poor health for a total of sixty million Americans. healthify helps insurance plans and providers manage, track and engage with these determinants in order to improve quality and reduce the cost of the care.
“Healthify is really excited to have a tremendous group of investors backing us,” said Manik Bhat, Co-Founder and CEO of Healthify. “This seed-round allows us to help managed care plans better care for their members’ needs by integrating a more robust analytics solution into our platform. Social needs arehealthcare’s blindside and we are well on our way to fixing this problem. ”
Designed for use till the point of care, Healthify has already dealt with two large Medicaid managed care plans to help address the social and behavioral health needs of soon 20,000 patients in New York and Maryland. The platform is currently offered in both Spanish and of course English.
“Healthify has built strong relationships with our clients like Universal American,” added Manik Bhat. “We are excited to leverage our partnerships with insurers to improve preventative care and get strong data on social services usage.”
Patients shall take a quick questionnaire in the waiting room or with a staff member to asses their risk for issues ranging from employment statues to substance abuse. Based on this assessment, they are referred to the appropriate federal,state, or community services that can give the the treatments they need. The care team will then be able to follow up by sending interactive text messages through a interactive dashboard.
Healthify’s approach not only allows case managers to handle more patient but also helps insurers control costs. Healthify is positioned to revolutionize improved health outcomes among the most vulnerable populations and help the Mdeicaid program become even more sustainable.