Digital Solutions for Healthcare’s Major Cost Drivers to be Presented July 31
BOSTON--(BUSINESS WIRE)--Jul 24, 2018--Chronic conditions such as low back pain and diabetes are major drivers of medical and employment costs for employers and health plans. More and more, results from digital therapeutics demonstrate that this new approach offers a proven, effective, more convenient, and less expensive way to manage and treat these conditions.
Outcomes and successful models for implementing digital solutions will be presented in a panel presentation, “Leverage Digital Therapeutics to Bend the Curve on Key Cost Drivers,” on Tuesday, July 31, 2018, 8:40 AM EDT across three co-hosted conferences of the 3 rd Annual National Employee Health & Well Being Summit.
“Low back pain impacts one out of every three adults in America, is the number one cause of opioid prescriptions, and is a leading driver of medical spend, worker’s compensation, disability, and lost productivity,” said panelist David Grandin, founder and CEO of Kiio, a leader in delivering evidence-based, individualized digital solutions. “Employers bear the brunt of the economic burden, and we all pay for reduced quality of life as well as the incalculable societal cost of opioid addiction. Our partners are seeing dramatic results in reduced use of opioids and aggressive, high-cost medical services … and their employees and members are benefiting from convenient, 24/7 individualized care and a significant reduction in pain.”
Kiio’s evidence-based, AI-driven solution stratifies and engages individuals suffering from back pain with exercise, education, digital coaching, and lifestyle changes that relieve pain and improve productivity. Results from Kiio’s program include a 50% reduction in pain, a 78% decrease in filled opioid prescriptions, and a 55% reduction in direct medical spend.
Health plans and employers bear the costs associated with aggressive approaches to treating back pain. These include potentially inappropriate diagnostics and treatments such as opioids and unnecessary imaging or surgery, which fail to alleviate pain or even cause symptoms to worsen. For every 100,000 adult health plan members, low back pain treatment typically results in $40 million in medical and prescription costs. For employers, indirect annual low back pain costs for every 10,000 employees can total $6 million in workers’ comp, long-term disability, short-term disability, lost productivity and absenteeism. Digital therapeutics scale easily, providing an effective solution for both small and large health plans and employers.
Michael Quist, CEO of WEA Trust Insurance, says, “We are committed to implementing high-quality, innovative solutions that improve member health while effectively controlling costs for our employer groups. We have partnered with both Kiio and Livongo and have seen significant improvement in the health status and quality of life of our members who have participated in both of these programs. With Kiio, our members are reducing their pain, actively engaged in improving their health, and often avoiding unnecessary and potentially harmful treatments and medications, including opioids.”
In addition to providing concrete information on digital therapeutics, panelists will also discuss consumer engagement and best practices in direct contracting for these services. To register, click here.
Kiio, a pioneer in digital therapeutics, is focused on changing the paradigm for musculoskeletal care. Evidence-based, personalized, and consumer-centric, Kiio for Low Back Pain significantly reduces pain, opioid use, and medical costs, leading to improved quality of life for the individual and improved productivity and cost savings for the employer. Kiio works with both employers and health insurance companies, providing a cost-effective, easy-to-implement solution tailored to the needs of its partners.
For more information, visit www.kiio.com.
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CONTACT: Scott Public Relations
Joy Scott, CEO
KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS
INDUSTRY KEYWORD: PRACTICE MANAGEMENT HEALTH OTHER HEALTH PROFESSIONAL SERVICES INSURANCE PHYSICAL THERAPY
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PUB: 07/24/2018 07:01 AM/DISC: 07/24/2018 07:01 AM