Marpai Announces Agreement with Oshi Health to Offer High-Quality Virtual Digestive Health Care to Self-Funded Employer Health Plans
Marpai adds industry-leading virtual multidisciplinary gastrointestinal care clinic to its value-based care network to improve member health and lower employer costs.
NEW YORK, June 8, 2023 /PRNewswire/ -- Marpai, Inc. ("Marpai" or the "Company") (Nasdaq: MRAI), an AI-powered Third-Party Administrator (TPA) transforming self-funded employer health plans, announces a relationship with Oshi Health, Inc. ("Oshi Health" or "Oshi") to offer the most clinically advanced virtual digestive care to its employer health plan members. The result of rigorous clinical evaluation, this relationship meets the increased urgency of employers to address digestive health concerns and provide access to multidisciplinary digestive care to their employees.
Oshi Health's groundbreaking approach to care is aimed at transforming digestive health, a category of conditions that affect 25% of the population and drive significant avoidable costs. Built to deliver recommended treatments including dietary and gut-brain interventions with frequent iterative touchpoints, Oshi Health is democratizing access to high-quality multidisciplinary digestive care. Oshi's high-touch virtual care model has been clinically shown to quickly achieve positive diagnosis and symptom control, strong engagement and satisfaction, and significant cost savings.
Marpai is adding Oshi Health to Marpai Connect, its value-based care network of proven clinical care partners focused on preventing, mitigating, and reversing prevalent, high-cost conditions within health plan populations. Using proprietary AI-powered technology, Marpai proactively informs and educates health plan members facing costly gastrointestinal ("GI") treatments or procedures, uses multi-channel marketing to drive enrollment, nurtures participating members throughout the process and delivers transparent, detailed reporting to employers. Oshi Health is incentivized to deliver outcomes for members, and employers only pay for program participation by a member.
"We are thrilled to offer Oshi Health to address the high-cost GI conditions facing members of health plans we manage," said Mr. Edmundo Gonzalez, Chief Executive Officer of Marpai. "With Oshi Health, members access care that can dramatically improve their health and quality of life and avoid high cost diagnostic testing and emergency room visits, which saves significant money for them and their employer's health plan."
This partnership reinforces Marpai's commitment to health equity by addressing the growing difficulty in accessing specialists, especially in low-income areas and rural communities. Mr. Gonzalez stated, "We are providing members with access to leading specialists and evidence-based care, ensuring their improvement regardless of their geographical location."
Clinical trial results show that 92% of participants receiving care from Oshi Health achieved symptom control within four months with 98% patient satisfaction while achieving savings of $6,724 per patient in GI-related costs, and $10,292 per patient in all-cause healthcare costs. Patients also reported 1.3 fewer missed workdays per month and demonstrated lower healthcare utilization including a 64% reduction in GI-related emergency department visits.
Oshi Health members have unlimited appointments with a dedicated team of GI specialists – a nurse practitioner, registered dietician, GI-specialized behavioral health clinician and board-certified gastroenterologist – working from a collaborative care plan until symptom control is achieved.
"We're delighted to work with forward-thinking, technology-powered companies like Marpai to scale access to care that millions of Americans so desperately need," says Sam Holliday, Chief Executive Officer of Oshi Health. "With Marpai, we can bring evidence-based digestive care to people where they are, at the right time, so they can regain control of their condition in a way that positively impacts employers' bottom lines."
About Marpai, Inc.
Marpai, Inc. (Nasdaq: MRAI) is an AI-powered Third Party Administrator (TPA) delivering health plan administration and services to employers that directly pay for employee health benefits (self-funded employer health plans). As a technology innovator in the $22 billion TPA sector representing over $1 trillion in annual claims, Marpai includes services beyond traditional TPA services that improve health plan value to members, and significantly reduce medical and pharmaceutical costs for members and the plan. By leveraging AI and big data, Marpai proactively enables early clinical interventions by proven value-based care providers that can mitigate and reverse costly conditions and avoid costly care. Marpai also helps members fill gaps in annual care and guides them to high-value in-network providers and affordable 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 or https://ir.marpaihealth.com for investors.
About Oshi Health
Oshi Health is a completely redesigned digestive health care experience that transforms access to care, the patient experience, clinical outcomes and healthcare economics. In a high-touch virtual care delivery model, Oshi Health provides diagnosis and integrated care for digestive conditions and empowers people to achieve lasting control of their symptoms. Launched in 2020, Oshi Health works with innovative employers, health insurance partners, health systems and community GI practices to scale access to multidisciplinary care, reduce healthcare costs, and improve the lives of millions of Americans with chronic gastrointestinal diseases. For more information, visit www.oshihealth.com.
Forward-Looking Statement Disclaimer
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 potential benefits from its relationship with Oshi Health, the benefits to be derived from the use of Oshi Health's services and that Oshi Health offers the most clinically advanced virtual digestive care to its employer health plan members. 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 (the "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.
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Released June 8, 2023