Issue 040
Welcome back to E&O Wednesdays, the enrollment-focused digital health newsletter from Exits & Outcomes — for paying subscribers only. This every-other-Wednesday issue digs into digital health companies that sell to self-insured employers as well as others that rely on enrollment-based distribution for their digital health programs.
E&O Wednesdays: Employers
Here’s what’s going on in employer-distributed digital health…
- Glen Tullman’s Transcarent hired Fitbit’s former chief marketing officer, Tim Rosa, as its new CMO back in May, which generated a number of headlines at the time. E&O has learned that Rosa’s tenure as Transcarent’s CMO was short-lived. He has quietly left the company.
- Are you looking for data points on how the economic slowdown has changed the valuations of late-stage digital health startups? Well, one of Hinge Health’s investors reported that it had hired a third-party valuation specialist to determine the current valuation of the company so it could update its books. The verdict according to their analysis: Hinge Health has lost 10 percent of its valuation since it was valued at about $6 billion in its $400 million Series E round last October. The investor characterized that as in the middle of the range provided by the valuation expert, but it gave no indication of how wide of a range it was. Given public company valuation dips, I’m surprised it was only 10 percent. What am I missing?
- This edition of E&O Wednesdays includes the 42nd BigCo digital health employee benefits stack analysis. If you would like a quick summary of what E&O found in its analysis of the previous 41 BigCo stacks, check out this searchable, sortable database right here.
- Headspace Health, which was formed by the merger of Ginger Health and Headspace just launched an EAP offering (to better compete with companies like Lyra?). Headspace Health counts more than 3,700 employers as clients around the globe.
- One more thing… Back in June (Issue 036), I noted that Omada Health had posted details on a new randomized controlled trial, which marked a return to clinical trials for the company. The study is now recruiting. More on the 550-person “pragmatic RCT” in this excerpt from the intervention group description: “In addition to usual care, participants will gain access to the Omada Program, an online program that offers lifestyle self-management support for hypertension. Participants will be assigned a health coach and a hypertension specialist via Omada’s secure app… The care team will support patients with lifestyle self-management support, adherence to their current medication regimen, improved BP control, and use of monitors for self-management of their BP and/or blood glucose values.” Researchers will compare the intervention group’s outcomes to those from a group receiving usual care alone.
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Big employer digital benefits stack: W. W. Grainger
Digital health companies love to boast how many Fortune 500 customers they have. This recurring feature of E&O Wednesdays digs into a couple of Fortune 500s’ (or similarly-sized employers’) digital health stacks. So far, in past Wednesdays issues, I’ve written about the digital health benefits stacks of dozens of big companies. This searchable, sortable database over at the E&O site sums up the benefits stacks of more than 40 BigCos. Or, click any of the BigCo names below to read the newsletter that featured a full write-up for each:
- Walmart,
- Activision Blizzard,
- JP Morgan Chase,
- The Home Depot,
- Boeing,
- 3M,
- Chevron,
- BorgWarner,
- Bank of America,
- UnitedHealth Group,
- Costco,
- eBay,
- McKesson,
- Ford,
- Dell,
- AT&T,
- Disney,
- Novartis,
- Red Bull,
- VMware,
- T-Mobile/Sprint,
- Adobe,
- Phillips 66,
- Cox Enterprises,
- Wells Fargo,
- PayPal,
- Facebook,
- Sony Pictures,
- General Mills,
- General Electric,
- Comcast,
- News Corp,
- Vanguard,
- Nokia,
- HII,
- Fidelity,
- AbbVie,
- Dow Inc.,
- R.R. Donnelley & Sons,
- Target,
- and the “unburritable” benefits stack from Chipotle.
This week I dug into the benefits stack of industrial supply giant W. W. Grainger, which had more than 23,000 employees back in 2020. Here are the four digital health benefits that Grainger offers its employees along with the language the employer uses to describe them:
Emotional Wellbeing: Spring Health
“Stress and personal challenges happen to everyone. You might be overwhelmed, low on sleep, or having difficulties with a family member. You or a family member might be looking for a therapist, trying to tackle overeating, or struggling with substance abuse. Team members and dependents in their household can get personalized coaching for near-term issues, 24/7 crisis support and up to six free sessions with a licensed therapist. Find services that can make life a little easier:
- Travel resources
- Household services
- Educational services
- Basic legal assistance
- Childcare referrals
- Eldercare referrals
- Pet care referrals”
Virtual Medical Visits: Doctor On Demand
“For less than the cost of an office visit, you can connect via your smartphone, tablet or computer with a board-certified healthcare provider for urgent care and prescription refills 24/7. This can be especially helpful when you cannot get in to see your regular doctor or do not want to take the time to go to an urgent care facility or emergency room.”
“$10/visit, after deductible is met (Before the deductible is met, costs generally range $49 – $229 per visit, depending on the type of visit)”
Expert Medical Opinion: Accolade’s 2nd.MD
“For team members or family members who are feeling uncertain about their medical diagnosis or treatment, expert medical opinion provides access to nationally recognized doctors from the comfort of your home. You can get answers to your questions about a diagnosis, surgery, procedure, medications and treatment plans.”
Physical Therapy App: Hinge Health
“Conquer chronic knee, hip, shoulder or any other joint pain you may have virtually, without drugs or surgery. With Hinge Health, you get an app that offers one-to-one personalized coaching, saving you from time-consuming trips to a physical therapist. You can elect to receive a free tablet and wearable sensors that guide you through brief exercise therapy sessions.” “For diagnosed musculoskeletal problems, Hinge Health provides 15-minute, digitally guided exercise therapy sessions in-home, using a provided tablet and wearable sensors. Plus unlimited access to tailored, one-to-one health coaching.”
That’s a wrap on W. W. Grainger’s benefits stack. Which BigCo should E&O dig into next? Hit reply if you have a suggestion.
Links to E&O’s reports, databases, newsletters
Click below for dedicated pages for each of those categories:
- Read through the long-form E&O research reports here.
- Search and sort the E&O databases here.
- Skim more than 200 past issues of E&O newsletters here.
