SAN FRANCISCO--(BUSINESS WIRE)--Healthcare coverage technology leader Collective Health today announced that since welcoming its first client in January 2014, it has grown its membership 500x and secured increasing demand for its integrated health benefits platform with high growth, enterprise clients across a variety of verticals, including technology, financial services, aerospace and consumer packaged goods. In the past year alone, Collective Health has doubled its membership to 70,000 employee and dependent lives across 15 employer clients. In light of its significant growth, the company has brought on new commercial leaders, including its first chief financial officer, and is introducing an innovative new product to drive improved experience and efficiencies into the $1.2 trillion employer healthcare market.
Accelerated growth in enterprise market, and a new standard for Net Promoter Score
Since its first year of sales focused on selling to the sub-500 employer market for the January 2014 plan year, Collective Health has rapidly moved up market, securing a majority of deals with an average member size of 5,000. Employers are drawn to Collective Health because of its unique integrated technology and services health plan solution, which is focused on dramatically improving employees’ experience with their health plan, while ensuring employers’ healthcare spend drives ROI.
“We have spent the past three years singularly focused on creating the healthcare experience we all deserve, and that vision has reverberated across the large enterprise market,” said Ali Diab, co-founder and chief executive officer of Collective Health. “In addition to our sales momentum that has captured the attention of enterprise employers, we continue to attract and retain a deeply experienced leadership team and pioneer innovative products driven by technology and design to take better care of employers and their people.”
As of January 2017, Collective Health’s new clients, which include Counsyl, Cloudera, CrossFit, Red Bull, Jazz Pharmaceuticals, Trace3 and others, have chosen to move their health plans to the Collective Health platform because of the real opportunity to drive performance and innovation in their health benefits program, while simultaneously offering a superior experience for their people. Hitting a year-to-date Net Promoter Score (NPS) of 75 across its clients, comparable with consumer technology standouts like Apple (72), Netflix (68) and Amazon (62)1, it’s not surprising that such a diverse range of companies have joined return employer clients including Activision Blizzard, Palantir, Zendesk and others.
Adding to an experienced leadership bench
To support its momentum, Collective Health has broadened its leadership bench, hiring Kenneth (Ken) Hahn as chief financial officer and adding former senior vice president of people operations at Google, Laszlo Bock, to its advisory board. Ken has served as chief financial officer for three public companies where he led two successful IPOs. Most recently, he served as chief financial officer at Icontrol Networks that announced the signing of a successful sale of the company to Comcast and Alarm.com in a complex deal.
"I was initially drawn to Collective Health because of their incredible vision to make healthcare accessible for everyone," said Ken Hahn, chief financial officer, Collective Health. "After meeting their world-class leadership team and leading investors, as well as seeing the quality and breadth of employers engaged on their platform, I jumped at the opportunity to be a part of this passionate group of people and to help scale company operations so that we can continue executing against that vision and take care of even more lives."
Laszlo has been credited with transforming Google’s workforce and culture, and during his tenure, Google was named the “Best Company to Work For” more than 30 times in multiple publications around the world and received over 100 awards as an employer of choice. In 2010, he was named "Human Resources Executive of the Year" by HR Executive Magazine. Both Ken and Laszlo will bring their deep industry expertise and perspective to our team as the company continues to execute against its mission of simplifying healthcare.
"One of the most pressing issues today for employers, individuals and our nation is healthcare: how can we improve it to save even more lives, while also reducing costs and delivering a more human and compassionate experience. To me, no one is tackling these issues more effectively or cohesively than Ali and his team at Collective Health,” said Laszlo Bock, advisor, Collective Health. "Their mastery of data science, the healthcare system and how they help employers take care of their people is unrivaled. Not only are they solving incredibly tough problems, but they're building an amazing company culture while they do it. It’s an honor to join as an advisor to support their team and mission."
These announcements follow the recent executive hires of chief operating officer, Roy Gilbert, senior vice president of sales and client success, Jeff Hermosillo and senior director of clinical and network solutions, Dr. Andrew Halpert. Jeff has been responsible for quickly building out Collective Health’s sales function, hiring tenured regional vice presidents to scale Collective Health nationally with experience from Cigna, Aetna and Blue Shield of CA.
Introducing CareX: predictive technology and integrated support helping vulnerable members navigate the healthcare landscape
As part of today’s news, Collective Health is announcing the release of its member-focused beta product: CareX. Currently being piloted in a private beta with select clients and their 15,000+ members, CareX is a new addition to the Collective Health platform that uses full stack data and machine learning to identify and proactively connect members with the care they need. The product was created to reduce the confusion, fear and frustration most Americans face when dealing with a complex care issue such as maternity, behavioral health and diabetes, as well as close the engagement gap employers see with their existing health plan and benefits programs.
In the last three months of its beta, CareX has been live with 15,000+ members and has already fueled a 2x increase in program engagement, thanks to Collective Health’s unique, technology-enabled approach that utilizes data from disparate sources combined with personalized, premium member support.
“As a tenured benefits leader, Activision Blizzard offers a wealth of great benefits for health and wellness, fertility, compassionate leave and more,” said Milt Ezzard, senior director of global benefits for Activision Blizzard. “But this innovation only makes a difference if employees understand the programs and how to use them. That’s why I’m so excited to be part of the Collective Health CareX beta. With CareX, we can be confident that we’re offering the right benefits in the right way. CareX also provides great data on the impact of our benefits spend, so that we can continue to invest strategically in employees.”
How CareX works
Integrated on top of Collective Health’s existing claims and member experience technology platform, CareX is an intelligent system that uses three steps to integrate population data as well as member-specific claims and queries with a high-touch, personalized Care Navigation experience to simplify members’ care journeys.
- Learn: An employer client sees poor engagement in their health plan and benefits programs they’ve already invested in, such as maternity, behavioral health or second opinion programs. Together with Collective Health, that employer works to identify the target profiles for which types of members would benefit from those programs.
- Find: CareX uses multiple algorithms and data streams (claims, search queries on Collective Health’s Member Portal, inquiries to Collective Health Member Advocates) to identify members who fit those target profiles. Machine learning and a constant feedback loop allows the CareX algorithms to continually improve.
- Connect: CareX uses multiple tools to connect members to the right program and fuel relevant engagement, with more precision and speed than ever before. The exact approach is based on employer preferences, member preferences, condition/program specifics and real-time engagement analytics.
Each new cycle combines utilization results, experience feedback, clinical impact data and evolved algorithms to refine our ability to connect the right person to the right program at the right time. For more complex conditions, a primary goal of CareX is to connect members with a Collective Health Care Navigator who personally helps members navigate their coverage, programs and unique care needs, using the intelligence within the CareX system. CareX also gives employers a more powerful set of tools to analyze and optimize their benefits ecosystem, member impact and associated investment.
An example of how CareX might work is if a member has a complex oncology case. CareX will identify that member, engage that member in the CareX and case management programs as appropriate, as well as guide the member through additional services that can drive better outcomes such as a second opinion service. Collective Health's deep integrations with partners allow for a more seamless navigation and tracking of members throughout their care journey, while its identification and outreach capabilities allow for a superior level of member engagement than other solutions on the market.
The CareX private beta will continue with select clients and their populations through 2017 and will become more widely available in January 2018.
About Collective Health
Collective Health gives companies a smarter way to provide healthcare coverage through technology and design. Powered by a platform that connects and administers the entire benefits ecosystem—health plans, benefits programs, spending accounts, employee support—their solution delivers an effortless experience for everyone. Focused on serving the 170M+ Americans who receive healthcare coverage from their employers, the Collective Health platform has been selected by leading U.S. employers including Activision Blizzard, Cloudera, Crossfit, Palantir, Red Bull and Zendesk. Founded in October 2013, Collective Health is backed by NEA, Founders Fund, Google Ventures and other leading investors. The company is headquartered in San Francisco, CA. For more information, visit https://www.collectivehealth.com.