Date: Sunday, February 25, 2018
Time: 4:30 PM
Nura Health is a healthcare informatics company. We apply a unique "big data" strategy to champion the principle of cost-effectiveness as the prime driver for structuring healthcare benefits for large employers. Our solution includes a specialty network of clinicians who practice Integrative Medicine (IM) and who use our technology platform to capture patient treatment and outcomes data. By documenting IM protocols and outcomes, we can contrast the costs and efficacy of this multi-disciplinary approach to clinical medicine to those of conventional care methods for any given diagnosis. By using the analytics derived from that comparison, our customers will significantly reduce the ongoing burden of paying for chronic healthcare services. Nura will share in the savings generated. In early 2015, Nura Health secured its first customer, the US Air Force Medical Services in which we served as technical advisors on the subject of Integrative Medicine.
The rising cost of America's healthcare threatens the economic security of individuals, communities, businesses, and the nation. This threat is embodied in two pieces of information regarding employer healthcare benefit programs.
In 2014 employers spent0
in healthcare benefits and this number is increasing by 5-10% per year.
For large employers, ~5% of their employees are responsible for0
of their total healthcare expenditures.
Given the 17-year innovation cycle in clinical medicine, what is clear is that America's healthcare delivery infrastructure is painfully slow in adopting new information. Though employers have years of experience driving efficiency into their supply chains, historically they have not had any tools to examine conflicts of interests in their healthcare supply chains and the impact such COIs have on destroying the efficiency of their healthcare capital allocations. In short, they've not had any tools to determine the cost effectiveness of the healthcare benefits they pay for. Historically, most large employers resorted to shifting healthcare costs to employees. While cost shifting creates a ceiling for employer expenditures - it doesn't solve the negative economic impact chronic disease has on productivity. In fact, the negative multiplier on productivity has been cited as being greater than the direct healthcare cost of chronic medical claims.
America's healthcare ecosystem now struggles to transition from a volume-based fee-for-service model to a system driven by performance and value creation. While the federal government's efforts have stimulated the process of reform, Nura's platform was designed as a private sector solution. We offer customers a unique platform and care delivery network that is designed, in finance terms, to drive Economic Value Added (EVA) into an employer's healthcare capital. In clinical terms, the Nura solution is designed to capture data when a more expansive toolbox is used as a foundation for patient care. That toolbox, known as Integrative Medicine, is essentially the result of applying a systems engineering lens on to the practices of clinical medicine. These perspectives, embodied in our technology platform will provide employers with the all of the necessary infrastructure components to embed and operationalize the principle of cost-effectiveness (value-creation) into its healthcare benefit programs. Once identified, employers can structure incentives into benefit programs that encourage utilization of cost effective protocols first. When fully deployed Nura's solution will reduce the employer's healthcare expenditures for chronic disease by a sustainable ~25% over baseline. This will be implemented first in the costliest 5% of the employer's population.