WALTHAM, Mass.--(BUSINESS WIRE)--Alegeus Technologies, the market leader in consumer directed healthcare solutions, today announced a partnership with Granite Peak Technologies to deliver an innovative digital health solution that is designed to foster daily consumer engagement, promote healthy behavior, and reduce healthcare costs. The solution leverages proprietary technology and advanced activity protocols from Granite Peak – a platform called Hat Trick Motion. Combined with Alegeus’ industry-leading consumer engagement platform, this program incorporates daily fitness goals, a wearable activity tracker, and financial incentives – delivered directly into consumers’ healthcare accounts (such as health savings accounts). A wireless interface and easy-to-use design helps consumers quickly adopt the solution and progress towards real cost savings and healthier behaviors.
Activity-based digital health programs have great potential to mitigate healthcare risks and lower healthcare costs. However, there is more to mitigating risks than just total steps or activity. Medical research has proven that optimal health improvement is realized through a combination of frequency (F), intensity (I), and tenacity (T) of activity (FITTM). The Hat Trick Motion platform is truly innovative in its ability to enable employer groups to define specific daily goals and financial incentives for each of these FIT factors, measure performance against each of the daily goals through Granite Peak’s Trio® activity tracker, and streamline the delivery of financial rewards through integration to the consumer’s existing healthcare accounts. The solution guides users toward the benefits of more specific activity management and uses the latest device technology to capture actual consumer behavior for increased benefit.
Research has confirmed the beneficial impact of FIT behaviors, and increasing participation rates is the key to realizing them. Research by Endeavor Partners shows that 30% of device owners stop using their devices in six months or less. In contrast, Granite Peak Technology’s experience shows that more than 70% of members participating in an integrated, work-based activity program are still active and engaged 12 months after program launch.
The process is simple:
- Employers establish daily fitness goals and incentives
- Consumers opt into the program and wear the activity tracker
- The tracking device/software monitors activity and protects against fraud
- Rewards are deposited into the consumers healthcare account as goals are met
Financial incentives play an important role in driving consumer participation in the program, and the direct link to the consumer’s healthcare account is particularly compelling. With consumers bearing increased responsibility for healthcare costs, this program gives them an opportunity to boost their savings to cover short or long term healthcare costs, and can even provide an added incentive to enroll in account-based plan options.
“We are proud to be working with Alegeus and complementing their outstanding engagement platform. The Hat Trick Motion program takes full advantage of emerging technology and the latest medical research, and has been architected to drive daily engagement and deliver unique value for consumers – making it a compelling product offering for benefit service providers,” said Granite Peak’s Bruce Shepard. “In addition to reducing healthcare risks and costs for less healthy consumer segments, this program is also a powerful platform for attracting the coveted low-risk, healthy consumer population. This solution is a step forward in the quest to realize the potential of the digital health concept.”
“Our clients – including health insurance plans, third party administrators, and financial institutions – are always looking for new opportunities to grow their account-based programs and deliver differentiated value to their employer group customers and consumers,” said John Park, Chief Strategy Officer at Alegeus. “This new digital health activity program is a win/win for all stakeholders – enabling employer groups to reduce healthcare costs, improving engagement and health outcomes for consumers, and giving our clients a mechanism to increase account utilization and improve customer satisfaction and retention.”
About Granite Peak Technologies
Granite Peak Technologies is a pioneer in behavioral change and digital health advancements. Formed in 2011, Granite Peak offers a series of fully-integrated, highly successful activity-based incentive programs to facilitate population management, improve health outcomes, and reduce associated costs for clients. Granite Peak’s programs, including Hat Trick Motion, are remarkably successful, with registration rates averaging 81% and member activity averaging 70% twelve months after registration. By leveraging current exercise science research and proprietary technology, Granite Peak gives companies an affordable way to reward personal responsibility, create lasting health behavior change, and guide participants toward optimal health-risk reduction. Granite Peak’s member platform and frequent member communication have been customized and leveraged by more than 120 clients and partners including health care providers, insurers, and employers—to deepen customer relationships, build brand loyalty, manage risk, and improve morale, productivity, and retention in the workplace. As the health care system shifts more responsibility to individuals, Granite Peak provides strategic, incentive-based digital health and fitness programs to help companies manage risk in the 21st century. Granite Peak is headquartered in Minneapolis, MN. To learn more about Granite Peak, please visit www.granitepeaktechnologies.com.
About Alegeus Technologies
Alegeus Technologies is the market leader in consumer directed healthcare solutions, offering the industry’s most comprehensive platform for the administration of healthcare benefit accounts (including FSAs, HSAs, HRAs, wellness incentive, dependent care, and commuter accounts), the industry’s most widely-used benefit debit card, and powerful engagement solutions to help consumers maximize savings and optimize spending for their healthcare. Over 450 clients - including health insurance plans, third party administrators and financial institutions - leverage Alegeus’ deep expertise and proven technology to administer benefit accounts for more than 26.4 million members and process more than $8.4 billion in consumer healthcare payments annually. As the healthcare and benefit markets continue to evolve, Alegeus delivers solutions that enable clients to evolve their service offerings, operate their businesses more efficiently, and focus on their customers. The company is headquartered in Waltham, MA with operations in Orlando, FL and Milwaukee, WI. To learn more about Alegeus, please visit www.alegeus.com.