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Wellth

wellthapp.com

Founded Year

2014

Stage

Incubator/Accelerator - III | Alive

Total Raised

$17.22M

About Wellth

Wellth inspires positive behavior change for patients with chronic behavioral and physical health conditions. Behavioral Economics research has demonstrated that in order to produce significant behavior change and drive clinical impact, one must overcome 'Present Bias', or the tendency for humans to be motivated by instant and tangible gratification. Powered by a Behavioral Economics engine and intuitive smartphone design, Wellth uses daily financial incentives to overcome patients' Present Bias and motivate them to adhere to their daily care plan.

Headquarters Location

12130 Millennium Drive 3rd Fl

Los Angeles, California, 90094,

United States

ESPs containing Wellth

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

EXECUTION STRENGTH ➡MARKET STRENGTH ➡LEADERHIGHFLIEROUTPERFORMERCHALLENGER
Healthcare / Healthcare Providers Tech

Companies in this market provide patients with technology to help with compliance in taking medications on the prescribed regimen. These companies are especially relevant to the elderly population, who are more likely to be on regular medication and are at risk for non-adherence.

Wellth named as Highflier among 10 other companies, including MediSafe, Cureatr, and emocha Health.

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Wellth's Products & Differentiators

    Wellth

    An easy-to use smart phone app that members can use to document their care plan adherence to earn financial rewards.

Research containing Wellth

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Wellth in 3 CB Insights research briefs, most recently on Dec 23, 2020.

Expert Collections containing Wellth

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Wellth is included in 9 Expert Collections, including Conference Exhibitors.

C

Conference Exhibitors

5,501 items

HLTH is a healthcare event bringing together startups and large companies from pharma, health insurance, business intelligence, and more to discuss the shifting landscape of healthcare

I

Insurtech

2,756 items

Companies and startups that use of technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience

V

Value-Based Care & Population Health

1,066 items

The VBC & Population Health collection includes companies that enable and deliver care models that address the health needs for defining populations along the continuum of care, including in the community setting, through participation, engagement, and targeted interventions.

F

Fintech

7,751 items

US-based companies

D

Digital Health 150

150 items

The winners of the second annual CB Insights Digital Health 150.

D

Digital Health

13,306 items

Technologies, platforms, and systems that engage consumers for lifestyle, wellness, or health-related purposes; capture, store, or transmit health data; and/or support life science and clinical operations. (DiME, DTA, HealthXL, & NODE.Health)

Latest Wellth News

Raising Clinical Outcomes and Engagement Through Healthcare Equity: What Health Plans Need to Know

May 4, 2022

Anne Davis, VP of Government Markets & Strategy at Wellth Structural racism and poverty are correlated with a higher incidence of obesity among Black Americans (49%). Social drivers of health, which impact a disproportionate number of non-white Americans who live below the poverty line, account for as much as 90% of individuals’ health outcomes. These are just two examples of data that highlight the need for equity. Health plans are well-aware that shifting this dynamic and boosting clinical outcomes is possible through better, more personalized member engagement. But by and large, the healthcare system is not adequately set up to engage individuals who need the most help, including the 133 million Americans who live with at least one preventable chronic disease. Most healthcare interventions intended to motivate or engage members to improve their health don’t align with members’ day-to-day needs. In other words, most health system interventions lack equitability. Equitability Through a Healthcare Lens  One of the best ways to understand equitability and how it differs from equality is by looking at the 2017 Robert Wood Johnson Foundation graphic of individuals riding bicycles. In the first picture, individuals of different physiques — a differently-abled woman, a child, a tall man and an adult woman — are all trying to ride the same type of bicycle with varying degrees of success. In the second image, the same individuals are riding different bicycles tailored to their individual physicality. The second image demonstrates that every individual can ride with ease because they each have a solution that is tailored to their needs. If we consider these principles of equitability, it’s clear why our institutions are failing so many Americans. By offering “equal” (the same) care to everyone, we’re not accommodating individuals with a higher (or differing) level of needs. To deliver care in an equitable way, health plans need to think critically about what will motivate high-risk, underserved individuals to engage – and avoid applying the same solution to different member cohorts. For example, non-white Americans consume less alcohol than their white counterparts, but they experience higher levels of negative consequences from drinking because of higher poverty levels, unfair medical treatment and racial/ethnic stigma. Healthcare organizations that want to address alcohol use to improve health outcomes, should think critically about what would motivate higher-risk individuals to reduce alcohol consumption. Too often payers and employers offer incentives programs that do not support habit change, such as smoking cessation programs that offer rewards like a free T-shirt for hitting a goal—but few offer opportunities to check in with a program administrator to celebrate progress. A program with simple reward-goal structure might work for individuals who are ready to make a change (and who have access to nutritious food, time & access to exercise, etc). But for many, especially those with fewer resources, there is little external motivation at play. Engagement in Practice  On the other hand, the right incentives delivered at the right time, developed with equitability as a core focus can drive change. One recent study of Arizona Medicaid plan members with severe mental illness, compounded by other co-occurring conditions, illustrates this. For the 2021 study, the Arizona plan sought to reduce utilization of hospital emergency departments (ED) through a program that involved patients checking in daily with a mobile app. Provided they completed the 12-month program, participants were eligible for up to $250 in cash-based rewards they could put toward groceries, transportation costs and other essentials. Members checked in every day, using the app to log the completion of basic daily and weekly health-related tasks — such as eating healthy meals, checking blood glucose and blood pressure, and taking prescribed medications on time. Every day they would receive reminders and praise for positive behavior, such as posting a photo of a healthy meal or logging in a numeric value. By the end of the 12-month study, medication adherence improved by 43% among participants and in-patient hospital utilization declined by 69%. The plan also saw a +62 Net Promotor Score. The total cost of rewards cashed in (about $36,000) was far lower than that of hospitalization, and most member participants said that they hoped to continue daily check-ins after the study concluded. By diversifying member outreach and taking extra steps to ensure equitability, health plans have the potential to make a more significant dent in population health . They have the potential to demonstrate that by meeting individuals at their level, they can raise the bar with not only engagement but also happiness and quality of life. About Anne Davis Anne Davis is the VP of Government Markets & Strategy at Wellth , a venture-backed digital health company that improves adherence in chronic disease populations. Anne brings more than 20 years of healthcare experience to the Wellth team where she leads strategy across Government Markets. For the last decade, Anne has been focused primarily on improving care & experience programs for managed Medicaid and Medicare Advantage beneficiaries. At Martin’s Point Health Care, Anne led the Health Management team of nurses and social workers conducting utilization review and care management. Anne has worked with vendors such as Cotiviti, Eliza, Health Dialog as well as with health plans, health improvement organizations and nonprofits as a quality and evaluation consultant.

Wellth Frequently Asked Questions (FAQ)

  • When was Wellth founded?

    Wellth was founded in 2014.

  • Where is Wellth's headquarters?

    Wellth's headquarters is located at 12130 Millennium Drive, Los Angeles.

  • What is Wellth's latest funding round?

    Wellth's latest funding round is Incubator/Accelerator - III.

  • How much did Wellth raise?

    Wellth raised a total of $17.22M.

  • Who are the investors of Wellth?

    Investors of Wellth include Plug and Play Accelerator, Yabeo Capital, AXA Venture Partners, NFP Ventures, Boehringer Ingelheim Venture Fund and 15 more.

  • Who are Wellth's competitors?

    Competitors of Wellth include Twill, CARI Health, Perigon Health 360, Medsense Health, CheckedUp, Aide Health, Valera Health, MedMinder Systems, Brightline, Zhiyun Health and 95 more.

  • What products does Wellth offer?

    Wellth's products include Wellth.

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