Issue 051
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
This edition of E&O Wednesdays includes the fifty-somethingth BigCo digital health employee benefits stack analysis. If you would like a quick summary of what E&O found in its analysis of some of the first 40+ BigCo stacks, check out this searchable, sortable database right here. Was this forwarded to you? Increasingly, E&O is a covered benefit from many forward-looking digital health-focused employers. Why not yours? Consider a Business or Enterprise subscription today. Click this link to become a paying subscriber (there are personal plans available too).
Participant counts for Omada Health’s various programs in hypertension, diabetes, MSK
One year ago in Issue 032 of this newsletter, I wrote:
“Omada also revealed a handful of updated metrics that show how quickly its grown in recent years. I compiled the new numbers with the ones E&O has reported previously below: Omada grew its number of customers from 360 in 2018 to 862 in 2019 to more than 1,300 in 2020. The company said it now has more than 1,700 customers. That’s about 400 new customers each year?”
Net new customers slowdown for Omada: Interestingly, as of January 2023, Omada Health said it works with more than 1,800 customers. So that indicates it added fewer net new customers than in previous years — about 100 net new logos in 2022 vs around 400 net new customers each year over the four previous years.
Back to Issue 032 from March 2022:
“When I wrote The Omada Health Report back in January 2020, Omada had just crossed the 300,000 cumulative participants mark after adding about 100,000 in 2019. It hit 500,000 sometime in mid-2021 — so about 18 months later. Now the company is up over 550,000 all-time participants. It might be accelerating a little but it looks like Omada adds a little more than 100,000 new participants each year over the past couple of years.”
Despite the logo slowdown the net new participant number has been steady: Curiously, despite adding fewer customers, Omada has maintained its pace — maybe even accelerated it — of adding net new participants. Here are some new numbers that were current as of September 2022:
“In 2021, we served over 100,000 people. Since our founding, in our cardiometabolic programs, we’ve served over 700,000 people with efficacious services based on standard health care protocols. We launched our hypertension and diabetes + hypertension programs in 2018 and have served thousands of people with high blood pressure and other cardiovascular risk since then. And, we have served approximately 7,000 adults with tele-physical therapy through licensed physical therapists.”
Interesting that the total number served jumped from 550,000 in March 2022 to more than 700,000 by September.
(Remember: Omada lumps in self-insured employers with health insurance companies and others. So, while Omada added fewer customers in 2022, it could be that more of them were health insurers willing to offer Omada’s programs to its fully insured populations. Thus, fewer customers with larger potential participants unlocked? Just a guess.)
As you can read in the excerpt above, at the time Omada did not disclose the number of people it has served in its hypertension programs. This past week, however, it did share that number in a letter to HHS:
“Omada Health, Inc. (Omada) offers clinically efficacious asynchronous services for the management of hypertension. We have served 25,000 adults since we launched these services 5 years ago.”
Big employer benefits stack: IBM
Digital health companies love to boast how many Fortune 500 customers they have, but they aren’t always able to share which big companies offer their programs. That’s where E&O comes in. This recurring feature of E&O Wednesdays digs into a Fortune 500’s (or similarly-sized employer’s) digital health stack. 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,
- Chipotle,
- W. W. Grainger,
- Tesla,
- Hitachi,
- Western Digital,
- AmerisourceBergen,
- Analog Devices,
- Citi,
- Xerox,
- Autodesk,
- ExxonMobil,
- Amazon,
- Oracle,
- T-Mobile (revisited),
- General Mills (revisited),
- and Kimberly-Clark.
This week I dug into the benefits stack of a new company to this ongoing stack-mapping project: International Business Machines Corp. also known as as IBM but sometimes referred to as Big Blue. Nobody ever got fired for buying IBM but let’s see which digital health benefits IBM’s HR team has put their jobs on the line for, eh?
meQuilibrium for resilience
“Wellbeing@IBM All IBMers can take steps to healthier living. Explore resources and programs to support you along your journey toward improved health and wellbeing. Wellbeing@IBM includes resources to build resilience (meQuilibrium), help you manage financial wellbeing (IBM MoneySmart) and 1:1 wellbeing and nutrition consultations, just to name a few.”
Resources for Living from Aetna is the EAP
“Your wellbeing is essential at IBM. Through IBM’s Employee Assistance Program (EAP) — Resources for Living — you, your eligible dependents and all members of your household can receive mental health support, as well as a variety of other services, including referrals for child and elder care. This program is available at no cost to you with Resources for Living (administered by Aetna). Whether or not you enroll in any medical coverage under the IBM medical plan, the EAP offers resources to support your mental and emotional wellbeing. EAP has a 12-session benefit, meaning that you and your household members can each access 12 sessions with an EAP counselor per issue.”
The EAP also gives IBMers access to Talkspace
“You also have access to Talkspace. Take a brief assessment, receive a personalized match with a counselor and start receiving support. Talkspace provides mental health treatment options in the way that works for you — through texting, phone sessions or virtual video sessions. For each incident or issue, one week of Talkspace is equivalent to one EAP counseling session.”
Teladoc Medical Experts for second opinions (formerly Best Doctors)
“If you are enrolled in an IBM medical plan option administered by Aetna or Anthem, you and your covered dependents have access to Teladoc’s Medical Experts at no cost. Teladoc’s Medical Experts are a group of world-renowned providers who can offer advice about any medical issue or concern and can give you peace of mind through a second opinion or alternative treatments.”
Cancer Services & Support (Navigation) from MSK Direct
“There are distinct services offered via MSK Direct, including comprehensive remote consultations with Memorial Sloan Kettering providers and assistance locating high-quality cancer facilities near you.”
Fertility services through Progyny
“IBM offers a fertility and family building benefit through Progyny to assist IBMers and their dependents enrolled in a medical plan option (administered by Aetna or Anthem) wishing to have a child. The Progyny benefit provides comprehensive treatment coverage (including egg freezing) and access to a premier network of fertility specialists. The Progyny benefit also provides members with personalized support and guidance through a dedicated Patient Care Advocate (PCA).”
Virtual care for PCP visits and behavioral health is partially covered
IBM doesn’t really promote virtual visits as a benefit, but it does mention them as an option along with all of the other ways an IBMer might seek care. Virtual options are noted alongside PCP doctor visits and require the same deductibles as in-person visits. Similarly, IBM notes that outpatient virtual care options are available for mental health and substance use care. Still, no mention of any particular telehealth companies so it’s pretty open-ended as to where to seek out these virtual visits.
OK, that’s a wrap on IBM’s rather sparse benefits stack. Which BigCo should E&O dig into next? Hit reply if you have a suggestion.
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