Marpai Introduces Chronic Condition Management to Improve Outcomes for Employer Health Plan Members
Marpai adds clinical solution focused on effectively managing chronic health conditions to improve health outcomes, trajectories and plan costs
NEW YORK, Jan. 5, 2023 /PRNewswire/ -- Marpai, Inc. ("Marpai" or the "Company") (Nasdaq: MRAI), an AI-technology company transforming self-funded employer health plans, introduces Marpai Chronic Condition Management to improve the care journey of members with chronic conditions like heart disease, respiratory disease, diabetes, kidney disease and mental health. This is the latest addition to Marpai's Clinical Services Ecosystem – proven, clinical care solutions, backed by outcome and quality data, delivering specialized strategies and support to manage costly conditions. Leveraging the most advanced artificial intelligence, Marpai's proprietary clinical matchmaking platform identifies at-risk health plan members where a clinical intervention can make a meaningful difference and connects them to an appropriate solution in the Clinical Services Ecosystem. By addressing costly conditions early and appropriately, Marpai aims to create healthier lives and reduce health plan costs for employers.
According to the Centers for Disease Control and Prevention (CDC), in 2018 51.8% (129 million) of U.S. adults have been diagnosed with at least 1 of 10 selected chronic conditions: 24.6% (61 million) with one chronic condition and 27.2% (68 million) with two or more chronic conditions. It is estimated that 86% of healthcare costs are attributable to chronic disease which makes it a formidable challenge for employer health plans, especially self-funded health plans.
"Chronic conditions are highly prevalent across our member populations and are extremely costly. We are delighted to introduce this service to address these issues. Our team of medical experts use evidence-based tools to help members take the best care journey. Their efforts have proven to reduce ER visits, hospital stays and medication costs which significantly helps reduce plan costs for employers," says Marpai's Chief Executive Officer, Edmundo Gonzalez.
Marpai Chronic Condition Management brings a team of nurses, coaches and practitioners to help members move away from unnecessary ER visits to primary care, lessen the number of in-patient hospital days, manage post-discharge care and access affordable medications. The team integrates with Marpai's Pharmacy Advocates to help members save money on costly specialty medications. Marpai Chronic Condition Management is available to current health plan members upon plan renewal and all new members. Marpai proactively reaches out to at-risk members to enroll them in the program, and members can self-refer to the program and enroll if they meet eligibility requirements.
Marpai Chronic Condition Management is part of the Marpai Cares offering which is available to all health plan members under Marpai's administration. Marpai's AI-powered clinical matchmaking system proactively identifies at-risk members where a clinical intervention could make a meaningful difference within 24 months, and matches them to a clinical solution in its Clinical Services Ecosystem. The Ecosystem consists of clinical solutions rigorously vetted by Marpai data scientists and clinicians, and supported by valid outcome and quality data. Marpai aims to add 15 more Clinical Health Partners by the end of 2023.
Marpai, Inc. (Nasdaq: MRAI) is a technology company bringing AI-powered health plan administration and services to employers that directly pay for employee health benefits (self-funded employer health plans). Primarily competing in the $22 billion TPA (Third Party Administrator) sector representing over $1 trillion in annual claims, Marpai is commited to delivering the healthiest member population with the greatest cost efficiency within the health plan budget. Marpai leverages AI and big data to proactively proactively implement early clinical interventions to improve near-term outcomes, fill gaps in annual care, and guide members to high-value in-network providers and pharmacy solutions. Operating nationwide, Marpai offers access to provider networks including Aetna and Cigna and delivers all standard TPA services. For more information, visit www.marpaihealth.com.
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties, including statements regarding revenues, employee lives and cash. Forward-looking statements can be identified through the use of words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "guidance," "may," "can," "could", "will", "potential", "should," "goal" and variations of these words or similar expressions. For example, the Company is using forward looking statements when it discusses the expected benefits to be derived by clients using its solutions and that it aims to add 15 more Clinical Health Partners by the end of 2023. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect Marpai's current expectations and speak only as of the date of this release. Actual results may differ materially from Marpai's current expectations depending upon a number of factors. These factors include, among others, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings, market changes, and risks associated with managing the growth of the business. Except as required by law, Marpai does not undertake any responsibility to revise or update any forward-looking statements whether as a result of new information, future events or otherwise. More detailed information about Marpai and the risk factors that may affect the realization of forward-looking statements is set forth in Marpai's filings with the Securities and Exchange Commission (SEC). Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov.
Released January 5, 2023