It’s hard to believe 2017 is already coming to an end! It was another year of rapid growth for Collective Health—we started with 15 clients and 70,000 members, and we’ll enter 2018 with 30 clients and 120,000 members in all 50 states.
We also expanded into new industries, including energy, real estate, retail, automotive, provider services, security, and manufacturing, proving that enterprises of all types are ready to move their healthcare strategies into the 21st century. As our CEO Ali Diab said, “innovative companies across the U.S. are realizing there is a better option when it comes to employee healthcare.”
Most importantly, in 2017 we delivered incredible value for our clients and members. Some highlights include:
- Our all-in-one health benefits solution helped clients manage costs while increasing access to care for their employees and families. In 2017, clients saw a negligible (0.1 percent) uptick in medical costs, in stark contrast to the 5 percent industry average increase. More importantly, members substituted less optimal care for more optimal services. For example, utilization of emergency room visits decreased by 5 percent, while urgent care increased by 4 percent. And while specialists visits and advanced imaging went down by 8 and 12 percent, respectively, behavioral health services increased by 13 percent.
- We released multiple upgrades to our platform and launched new products, including: CareX, a tool that combines predictive technology to flag possible health issues with highly trained health professionals to help members navigate the many different treatment options available to them; an improved mobile application, with features including simplified out-of-network claims submission, health funds management, and cost and quality guidance; an integrated, full stack technology system that powers Collective Health’s concierge support team (which was also honored in Fast Company Innovation by Design awards.)
- We dramatically grew our industry ecosystem, adding 41 new network, program, benefits administration, COBRA, and health funds partners. In 2017 alone, we completed more than 283 unique integrations with these partners for clients.
Last but not least, our Net Promoter Score (NPS) continued to set industry benchmarks and our members had some wonderful things to say about their experiences with Collective Health.
You can find more details on Collective Health’s 2017 growth here. If you’re interested in learning more about our platform or if you would like to schedule a demo, get in touch! We’d love to hear from you.