Wellth is a New York-based digital health company. We’re developing new ways to help healthcare organizations and life insurers improve the health of their populations and avoid preventable costs.
Wellth has a unique business model that allows us to reward patients for being healthy, which maximizes patient engagement and the effectiveness of our interventions.
Wellth products combine mobile technologies with concepts from behavioral economics to help patients keep track of their most important health activities and stick with them over time.
Behavioral economics is the study of why people do the things they do. We want to help patients take better care of themselves. So we focus on understanding their motivations to take their medications, track their metrics, and hit their goals. Then we build flexible tools that fit into and simplify their lives.
According to the World Health Organization patient nonadherence to therapy is a huge problem in the US and throughout the world. 1 in 2 adults have a chronic condition, and about half of those do not adhere to their medications. At Wellth, we are sensitive to the fact that managing a chronic condition is a difficult full-time job, and even the most motivated patients can benefit from a little extra support.
The New England Healthcare Institute estimates that medication nonadherence accounts for about $300 billion per year in avoidable medical spending in the US; $100 billion of this is attributed to excess hospitalizations alone.
We currently have two ongoing clinical trials -- one for patients with heart attacks and the other for patients with heart failure -- to scientifically demonstrate that our interventions really work. We have also completed a pilot in type 2 diabetes with a large national insurer.
Yes. All of our business practices are HIPAA compliant and our entire team completes certified HIPAA training on an annual basis. Sensitive data is maintained through HIPAA-compliant application hosting by HealthcareBlocks.
If you are an insurer or provider, then definitely yes. Please contact us for a demo. If you are a patient, then please ask your insurance company and your hospital system to reach out to us so we can bring Wellth to your area.
