Behavioral economics program to improve medication adherence and health outcomes
PHOENIX--(BUSINESS WIRE)--Feb. 10, 2021--
Magellan Rx Management, the full-service pharmacy benefits management division of Magellan Health, Inc. (NASDAQ: MGLN), announced today the implementation of a pilot to expand its digital health suite by offering Wellth, a digital behavioral change program, with the goal of improving medication adherence and overall health. The pilot will focus on leveraging behavioral economics to improve health outcomes for various conditions including diabetes, hypertension, hyperlipidemia, depression, asthma, and psychosis.
“Wellth is a unique solution, which leverages the proven science of behavioral economics to drive habit formation and behavior change in people with chronic conditions. It is about more than medication adherence, it’s about transforming the way individuals manage their conditions,” said Caroline Carney, M.D., Chief Medical Officer of Magellan Health. “We are excited to be working with Wellth and are eagerly anticipating the results of our pilot program, particularly for individuals with both behavioral health and medical conditions.”
The pilot will aim to improve member outcomes and promote health equity by using digital technology and artificial intelligence to help members build lasting healthy habits through a personalized experience. Members will receive daily financial incentives for verifying adherence to prescribed care plans through daily check-ins, like taking a picture of their medication(s) – which are immediately processed by Wellth’s AI technology for verification, with pertinent insights relayed directly to care teams. Members get a fun, easy and motivating experience along with instant gratification of keeping their endowed rewards, which they redeem at milestone intervals throughout the duration of their program.
“Magellan Rx’s commitment to improving medication adherence and driving value for their customers makes them a perfect partner for Wellth,” said Matthew Loper, CEO and Co-founder of Wellth. “Rewarding members for building healthy behaviors, while also helping members use those rewards to cover real world expenses, is the embodiment of Wellth’s mission. We are excited to be working alongside Magellan Rx to drive value for their customers and ultimately, create better health outcomes for the members they serve.”
About Wellth: Wellth is a digital behavior change company that creates de novo motivation in the highest-risk, least engaged segment of the chronic disease population. Powered by a behavioral economics engine paired with an intuitive, consumer-grade smartphone experience designed to motivate and delight, Wellth rewards members with daily financial incentives for verifying adherence to prescribed care plans. The company's mission is to ensure the adoption and success of value-based care by helping health plans and risk-bearing healthcare providers better understand their populations, improve customer health, and lower costs. Learn more at www.wellthapp.com.
About Magellan Rx Management: Magellan Rx Management, a division of Magellan Health, Inc., is shaping the future of pharmacy. As a next-generation pharmacy organization, we deliver meaningful solutions to the people we serve. As pioneers in specialty drug management, industry leaders in Medicaid pharmacy programs and disruptors in pharmacy benefit management, we partner with our customers and members to deliver a best-in-class healthcare experience.
About Magellan Health: Magellan Health, Inc. is a leader in managing the fastest growing, most complex areas of health, including special populations, complete pharmacy benefits and other specialty areas of healthcare. Magellan supports innovative ways of accessing better health through technology, while remaining focused on the critical personal relationships that are necessary to achieve a healthy, vibrant life. Magellan's customers include health plans and other managed care organizations, employers, labor unions, various military and governmental agencies and third-party administrators. For more information, visit MagellanHealth.com.
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Source: Magellan Health, Inc.