Medorion Offers SaaS Solutions for Health Insurers
Medorion just raised $6 million.
Israeli startup Medorion develops behavioral intelligence SaaS solutions for health insurers. Medorion completed a $6 million funding round led by 10D. This brings Medorion’s total funding to date to $9 million.
Behavioral Intelligence is defined as the use of skills and capabilities to properly explain existing behaviors. It is also used to attempt to predict future behaviors based on assessments of data and to influence other people’s behavior.
SaaS is software as a solution. You have probably used this type of service many times already, even if you did not realize it? Have you ever used Google Docs or MS Office on line? These are examples of SaaS. Instead of downloading a program, you use it on line and in the cloud. So Medorion combines behavioral intelligence and SaaS solutions to help health insurers.
Basically, Medorion’s tech makes it easier for insurance companies to accurately predict the needs of their clients and to prepare for their future costs.
Founded in 2017 by Shai Levi, Eviatar Khen and Asaf Kleinbor, Medorion declares that their SaaS solution enables healthcare organizations to create, manage, and measure highly personalized communication plans using” best practices in Behavioral Science and helpful insights derived from clinical parameters in claims data.” Medorion’s Behavioral AI platform, says the company, transforms what is traditionally a “cumbersome solution-based process” into “intuitive and straightforward actions that allow health plans to streamline, optimize, and personalize their communication plans.”
Medorion’s states that their AI-powered SaaS platform analyzes claims and social determinants of health (SDOH) data to accurately pinpoint the underlying psychological, environmental, and economic drivers and barriers behind people’s health decisions. With Medorion, insurers can better understand members’ needs and personalize and automate one-on-one member conversations at scale, facilitating proactive interactions that improve health delivery and financial outcomes.
“We will use these funds to grow our impact on the U.S. market, hire aggressively and boost the adoption of our behavioral intelligence SaaS platform among additional leading U.S. insurers. We also plan to accelerate the development of our new risk adjustment and member experience solutions, as well as expand our platform’s utilization beyond Medicare Advantage plans into other government markets,” said Asaf Kleinbort, co-founder and CEO of Medorion.
“By empowering payers with comprehensive automated tools that facilitate qualitative and personalized communications at scale, health plans can improve the member experience and willingness to embrace care and treatment, leading to enhanced healthcare delivery and better financial outcomes.”