Virtual Wellness Solutions

As mentioned in my first post. There are a number of companies that are driving innovation in the employee benefits space. These companies are evolving to meet the emerging needs of employers and employees and continue to enhance the overall experience. One employee benefit that is growing is virtual mental and physical care. These offerings provide a convenient way for employees to get help and help employers deliver these programs in a cost-effective manner.?

One company, Goodpath (https://www.goodpath.com), intends to create a one-stop shop for various virtual care solutions. The company started with solutions to help employees with musculoskeletal issues, which are one of the leading causes of disability, impacting employees and employers alike. Since then, the offering has expanded to cover various health and mental issues.?

In addition to the effectiveness of their individual solutions, Goodpath's value proposition is an integrated approach for treating the whole person rather than the illness itself, as many times, the impact on the person is much broader. The company’s programs are designed and managed by qualified medical professionals. Moreover, the program can be customized for each user. The company has gotten good traction in the marketplace and started to see some real tangible proof points.?

I exchanged notes with Daniel Zainulbhai , the Chief Business Development Officer, to highlight their key differentiators. The following is based on that exchange:?

What employee and employer needs does your company address??

As employers and employees have embraced the digital health revolution to provide easier access to more solutions for more conditions, the experience has gotten worse. Care is even more fragmented, which ultimately leads to lower utilization and higher costs of care. This also creates an outsized indirect cost for HR teams managing many vendors. Care is not only fragmented between conditions, but it's fragmented across the patient journey, with different solutions being offered for preventive health at the time of injuries/flare-ups, pre/post-surgery, post-disability claims, etc.? Goodpath's virtual whole-person care platform for chronic conditions provides high enrollment, engagement, and guaranteed medical claims reduction. Goodpath's platform can also be used across care, from preventive health to disability claims, allowing an employer to provide a seamless employee experience with one platform.?

What are the offerings, and how do they work?

Goodpath is virtual care that treats the entire person, both mind and body (the current inflection point in care delivery). Our personalized care is polychronic, which means we support all the major chronic conditions through a single platform - MSK, digestive, sleep, mental health, long-term COVID-19, and cancer survivorship.

Our employee experience combines personalized digital care with physical products and medically certified coaches, all personalized to meet each employee’s exact needs.?

One of the outcomes we are most excited about is the difference personalized care makes in closing the benefits equity gap. By helping employers design and tailor the health benefits strategy around their people, we drive increased utilization of healthcare resources as individuals know that their specific needs are understood and accommodated. Our platform has no pre-commitments because we are 100% utilization-based.

What is your market differentiation???

Our ability to drive high impact at scale. Through our multi-condition platform, we enroll 14%+ of an employer's population and drive 50% improvement in health scores on average. This leads to a direct reduction in medical and disability claims. Our impact is so strong that we guarantee a 1:1 ROI measured through a reduction in medical and disability claims.??

When did the company start, and how has the market traction been so far?

Goodpath was founded in 2018. We've had traction selling as a health benefit to self-insured employers, driven by growing frustrations with disjointed point solutions and poor engagement. We are unique in the benefits space to show consistently strong patient outcomes across Fortune 500 companies within biotech, travel & logistics, manufacturing, health systems, and financial services & insurance.?

Any proof points that you would like to share?

• Equitable Outcomes: Enrollment rates have been 14%+ v.s. the industry standard of 2-3%
• Seamless Experience: A single experience across a member's entire physical and mental health. Average NPS score of 82% for employees going through the program
• Value: Utilization-based pricing, 3.4x ROI for employers measured in reduced health claims (4x that of average point solutions). A recent analysis measuring the impact of Goodpath on the incidence rate of short-term disability showed a 32% to 51% reduction in incidence across employer clients.??

?Who are the investors, and what is your long-term vision??

Goodpath is backed by top-tier US VC firms. Our vision is to deliver the future of chronic condition management and ultimately become a virtual integrative healthcare clinic for all medical needs.?

Is there anything else you would like to add??

Goodpath has started working directly with disability carriers to provide care programs to members on disability, paid for directly by the carrier. Goodpath is reducing STD durations and LTD incidences, bringing members back to work healthier, happier, and faster.