87% of employers want to increase employee awareness and effective decision-making on health issues1
38% of employees asked about cheaper treatment options 22
97% of American smartphone owners text at least once per week3
Navigating the cost of care is a growing issue. CaredUp’s technology assists in solving it.
As a means to slow rising premium cost, brokers and consultants have intelligently focused more effort on unique plan design.
A byproduct of this effort is an ever-increasing responsibility employees are bearing in the form of higher deductibles (up 49% since 2011) . Having patients more invested in the costs is a good thing, but those gains aren’t without hurdles.
Given the complexity of the healthcare system, asking employees to be better navigators often leads to frustration and suboptimal outcomes. That’s where technology can lend a helping hand. But it must be compelling in such a way that it asks very little of an employee who doesn’t want to spend extra time thinking about healthcare.
CaredUp is deployed via text messaging so employees can quickly get personalized answers without stepping outside of their preferred form of communication.
There is nothing ambiguous about what CaredUp provides. Each employee who contacts us is more likely to access cost-effective in-network care. In-network prices for hundreds of “shoppable” procedures vary considerably. By illuminating this reality, an employee is empowered to make a smart decision. This saves the employee and employer money.
Fighting through long telephone holds and antiquated websites to find cost answers is often an underwhelming and time-consuming process. Meanwhile, 97% of Americans send at least one text message every day for a total of six billion daily messages. Texting is faster, easier and more in sync with our busy lives. CaredUp communicates with people in the way they prefer to communicate.
Co-insurance? Co-pay? Deductible? In-network? HSA? HRA? FSA? The world of health insurance is so confusing that 86% of people don’t understand even the most basic elements. Handing out a few pamphlets during open enrollment isn’t enough. Arming employees with an advocate who can break it all down in simple terms is essential.
Patient texts CaredUp a healthcare navigation question like: How much is this going to cost? Can you find me an in-network podiatrist? What is co-insurance? Is a colonoscopy covered? What does this medical bill mean?
By utilizing a wide range of informational resources, CaredUp provides personalized answers based on a patient's specific insurance plan.
Patient now knows, before treatment, how much a procedure is going to cost, what the insurance plan covers and where to access the most cost-effective provider. CaredUp can even set the appointment.
When employees choose cost-effective options, employers win. From a direct dollar value perspective, this is especially true in self-funded arrangements.
Given this reality, CaredUp will also run a program that further incentivizes efficient use of healthcare through cash rewards. If an employee chooses providers prudently, an employer pays out less in claims, and then shares some of those savings with the employee. It's a virtuous system that works for everyone except overpriced providers.