Blue Cross of Idaho Invests in Endear Health to Improve Value
Blue Cross of Idaho Invests in Endear Health to Improve Value ... unknown
Blue Cross of Idaho and several venture capital firms have invested in Endear Health, a digital platform aimed at enhancing value-based care delivery for Medicare Advantage beneficiaries. The funding will support the expansion of Endear Health’s platform, which is designed specifically for seniors to access core and supplemental benefits, as well as educational resources, all in one place.
Endear Health, founded in 2021, partners with Medicare Advantage plans and accountable care organizations (ACOs) to improve digital experiences for members. The platform leverages third-party digital health vendors to efficiently deploy programs that can boost member satisfaction and health outcomes. By collaborating with vendors, Endear Health can quickly add new services to a payer’s portal, streamlining program testing and providing real-time analytics.
Beneficiaries can utilize the platform to access various programs provided by their health plan, such as telehealth services, nutrition counseling, and over-the-counter medicine services. Additionally, the user-friendly platform collects social determinants of health data and offers personalized recommendations to plans and members. This digital engagement platform aims to consolidate online resources and minimize the digital divide for older adults.
Blue Cross of Idaho’s investment in Endear Health demonstrates its commitment to improving value-based care delivery for Medicare Advantage beneficiaries. The payer offers a range of health plans, including Medicare Advantage plans, individual and family plans, Medicaid plans, and employer-sponsored health plans. Streamlining the healthcare experience for Medicare Advantage is crucial as enrollment in these plans continues to grow. According to KFF, over 51 percent of Medicare beneficiaries are enrolled in a Medicare Advantage plan in 2023, a significant increase from 19 percent in 2007.
Endear Health has received additional investments from Optum Ventures, 8VC, and other strategic partners, bringing the total funding to $8 million.