This Health Tech Company is Revolutionizing the Health Insurance Industry
What the company does?
Evry Health is a B2B tech-savvy health insurance company that makes health insurance affordable, accessible and high-quality. It has eliminated deductibles and co-pays for in-network benefits, can save companies up to 20% on premiums, and provide expanded benefits like tailored wellness programs at no additional cost to employers or their employees.
The Current Landscape
Our country is inundated with some of the largest legacy carriers. However, the legacy insurance industry has been struggling to keep up with advances in tech and compliance for a long time and their technology is decades old. While they are attempting to address the situation, their patchwork efforts cannot address the fundamental structure that they are tied to. The legacy infrastructure and broader employment base are not easily transitioned to modern technology, value-based care and virtual business models of today. At the end of the day, their current system is not sustainable. As a result, it is easier for new up-and-coming businesses to build the technology and health insurance that is wanted and needed in this country. New technology like Evry’s has stronger automation, better product design, and offers great efficiency that will solve many of the problems the health insurance space currently faces.
Company Birth Story
The Evry co-founders started the company because they lost friends and family to the U.S. healthcare system and want to tackle the root cause of healthcare problems in our country. Evry’s COO, Jay Startz lost his mother to cancer in 2016 after being misdiagnosed and mismanaged as a patient for nearly a year prior to hert cancer diagnosis. It’s likely her death was entirely preventable if her various doctors had communicated and clinically worked together. After his mother’s passing came more battles with the insurance company. Although stories like this happen to families every day throughout the country, Evry wanted to tackle this problem and change the health insurance and care landscape in the U.S.
Evry is a software company that owns an insurance carrier. Evry’s software differs from competitors and legacy insurers because it automates roughly half the tasks involved with claims, care coordination, underwriting and back-office operations that produce savings that they pass through to customers. They aggregate data from disparate sources (claims, clinical, pharma, lab and wellness data) to make superior decisions and aid patients. Evry’s technology helps members identify and treat conditions earlier and more effectively and have a much better user experience—a single portal to access telehealth, care concierge, claims data, wellness plan, doctor lookup, rewards card and more.
Evry has stayed true to the company’s mission and enduring purpose of making healthcare for the community more affordable by increasing access to care and making the process more transparent and ultimately improving the health and wellness of its members and their families.
Check It Out: https://www.evryhealth.com/
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