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The company can translate data to create tailored consumer healthcare experiences
As of 2021, nearly half of the country's population got health insurance from through their employer; yet, only 10% of employees actually use their benefits, because 76% of them don’t understand them. What they really want is assistance: eight out 10 employees say they would use their benefits more if offered a more personalized experience and 66% want help navigating their benefits.
RadiantGraph is a platform looking to close that gap, using machine learning and artificial intelligence to drive consumer engagement for health plans. On Wednesday, the company announced its launch after raising $5 million.
"Health plans and healthcare companies believe in the power of personalization but can benefit from platforms to help deliver on the promise; and we believe there’s an opportunity for RadiantGraph to help organizations bring these advances to their members cost-effectively," Anmol Madan, founder and CEO of RadiantGraph, told VatorNews.
"Health Plan to member communications today are often one size fits all across a broad population leading to low levels of engagement. Health plans have invested heavily in tooling and platforms to solve this problem and many believe that advances in AI will enable true impact over the coming years."
RadiantGraph's technology can translate data, including medical claims, medication history, and biometric data, to create tailored consumer healthcare experiences that reach consumers where they are.
The company works with health plans, providers, and enterprise health companies, enabling clinical, product and marketing teams to test and launch ideas and new approaches, with the idea of reducing capital investment in technology, and accelerating time to market.
For example, in behavioral health there can be many different types of content and digital clinical interventions based on a person’s clinical need, acuity, and preferences, or in chronic conditions like diabetes, consumers find different ways to engage in their health-related behaviors that positively impact their lifestyle and health outcomes.
Across healthcare, there is a movement towards personalized support, said Madan, and RadiantGraph's thesis is that AI is an enabling technology in that shift.
"While almost every part of our life is personalized (such as content, social media, and retail); it is significantly more complex to translate these approaches to healthcare. AI systems need to understand the clinical context for consumers–the need to drive not just in-the-moment clicks, but also clinical outcomes assessed over months and years," he explained.
"They need to integrate into healthcare-specific member communications, product experiences, and clinical workflows of the organization, while preserving member privacy and safety."
The new seed funding, which was led by True Ventures and XYZ Ventures, with participation from Remus Capital, will be used to accelerate growth, which includes partnering with new healthcare organizations, and advancing their enterprise health and health plan product offerings.
RadiantGraph is on a mission to make healthcare more accessible and easier for all of us as consumers.
"Our AI platform helps leading healthcare organizations build deeper and richer connections with their consumers, driving personalized engagement and clinical outcomes. Healthcare companies that leverage RadiantGraph are able to reduce data engineering spend while bringing in new ideas, experiments, and clinical interventions to consumers much faster," said Madan.
(Image source: radiantgraph.com)
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