Ian Chiu, Managing Director at Owl Ventures, on the VatorNews Innovation podcast
Owl Ventures is the largest edtech VC firm with over $2.25B in assets under management
Read more...Bambi Francisco Roizen interviews Samantha Baker,Vice President of Digital Health of UnitedHealthcare. UnitedHealthcare is an operating division of UnitedHealth Group, the largest single health carrier in the United States, with about 70 million members.
Here are some takeaways...
-- Baker's responsibilities include launching digital health products that drive consumer engagement with the goal of improving overall health.
-- UnitedHealthcare spends $3.5 billion annually to develop digital health resources, such as consumer wearables, fitness apps, trackers, home monitoring devices, etc.
-- The Peloton partnership makes the Peloton fitness app available to 4 million UnitedHealthcare members enrolled in qualified sponsored plans. To see if you're eligible, go to myuhc.com.
-- The Peloton service is free to employees and UnitedHealthcare employer customers. Both UnitedHealthcare and Peloton will cover the costs for their members.
-- The Peloton offering is part of UnitedHealthcare's priorities to help members engage in healthier activities. The insurer launched its Motion program five years ago, which is a way for members to track their activity and get rewards for it. This program comes at a cost to employers, but it has shown remarkable results. As part of this program, a consumer must have a connected fitness tracker (UnitedHealthcare does not supply though a person can earn rewards to receive one). The Motion program members have collectively walked 650 billion steps and earned close to $80 million in rewards.
-- A person can earn up to $1k a year in rewards by reaching certain activity goals, such as walking 3000 steps in 30 minutes, or cycling, doing the elliptical or swimming.
-- The Motion program was created and developed inside UnitedHealthcare.
-- UnitedHealthcare also works with Level2, a virtual clinic that combines wearables and personalized support for Type 2 diabetics. Level2 equips patients with integrated tools that include a continuous glucose monitor (CGM), activity tracker, app-based notifications, and one-on-one coaching and support.
-- UnitedHealthcare also works with Real Appeal, a personalized, interactive online weight loss program that uses personal coaches and an internet TV show to motivate people to lose weight and get active and healthier. The evidence-based program has resulted in a 16% reduction in medical costs among participants.
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All author postsOwl Ventures is the largest edtech VC firm with over $2.25B in assets under management
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