Medorion has announced that it will broaden it’s AI-powered EBR (Electronic Behavioral Records) platform. The company develops Behavioral Intelligence SaaS solutions for health insurers, and the new expansion will focus on additional health plan-related focus areas beyond the company's current Behavioral Persuasion software.
What the Expansion Includes
The expansion will include a comprehensive member experience solution, risk adjustment and care management. These new solutions will rely on Medorion’s EBR platform, which will provide even further insight into what drives member health decisions.
The platform leverages existing clinical and social determinants of health data to pinpoint underlying psychological and environmental barriers. It also uses these determinants to identify the economic factors behind individuals’ health decisions.
The SaaS-based EBR platform is based on decades of behavioral science and artificial intelligence and machine learning expertise, and it is the behavioral equivalent to Electronic Health Records (EHRs).
Asaf Kleinbort is co-founder and CEO of Medorion.
“We are excited to announce the broader implementation of our behavioral insights platform into new avenues of member experience to bolster health plan offerings and capabilities,” said Kleinbort. “By leveraging our proven EBR™ platform, we can better understand why members behave the way they do and help health plans and healthcare organizations to elevate their understanding of members’ needs and truly personalize care while improving healthcare management delivery of services, and financial outcomes.”
The Expanded Product Offerings
The newly expanded product offerings by Medorion include:
- Comprehensive behavioral persuasion software: This software automatically facilitates decision based digital interactions to influence the health behavior of members.
- Member-centric 360° SaaS: This aggregates all behavioral records insights beyond the clinical setting, and it includes behavioral member segmentation and characterization.
- Behavioral actuary solution: This solution leverages insights from members’ health decisions to improve risk management and insurance product planning.
- Care management system: This system provides insights into member behavior and service offering adjustments based on the individual needs of members.
Through automated preset digital tools, Medorion’s EBR platform can use members’ health insights to enable omnichannel member accessibility. It can cover all member populations in multiple health measures, including those with minimal data associated with them. All of this enables Medorion’s technology to allow health plans to provide a unique member experience of personal relevance, instead of a “personalized” one, which allows for improved health and business outcomes.
New data recently released by the company showed that its software platform has resulted in double-digit enrollment, 1-star gains in multiple Part D measures, and increased retention rates to some of the top health insurers in the United States throughout the last 18 months. The company is also coming off a recent $6 million funding round led by 10D, iAngels and TAU Ventures.