Accolade introduces new healthcare category: Personalized Healthcare

Rhea-AI Summary

Accolade, Inc. (Nasdaq: ACCD) launched a new healthcare category called Personalized Healthcare on Sept. 21, 2021, during its Evolve21 event. This initiative aims to enhance value-based care through three core pillars: Personal, Data driven, and Value based. New solutions include Accolade One and Accolade Care, focusing on integrated healthcare delivery. CEO Rajeev Singh emphasized the importance of human relationships in healthcare, addressing employee demands for better healthcare experiences. A SHRM survey highlighted that healthcare influences job change decisions for over half of U.S. employees.

Positive

• Introduction of a new healthcare category, Personalized Healthcare, targeting improved patient outcomes.
• Accolade One and Accolade Care solutions integrate mental and primary care to enhance healthcare delivery.
• Personalized Healthcare aims to strengthen employee satisfaction, addressing a key factor in job retention.

Negative

• None.

SEATTLE, Sept. 21, 2021 /PRNewswire/ -- Accolade, Inc. (Nasdaq: ACCD), the company that provides millions of people and their families with exceptional healthcare, today introduced Personalized Healthcare, a new category that enables a nationally scalable model of value-based care to meet the quadruple aim.

"Every healthcare journey is personal. To deliver the right healthcare, we must build real human relationships in the moments that matter and personalize the experience using data and technology. Healthcare that works is personal, value based and measurable. That is the promise of Personalized Healthcare."

The company also announced Accolade One and Accolade Care, new solutions that combine the company's intelligent technology and advocacy services with team-based healthcare delivery. Both announcements were made at Evolve21, Accolade's premier annual customer event.

"Healthcare in the United States isn't working for patients or for employers. For too long, people have been looking for quick fixes like digital portals and bots designed to triage low-acuity health needs or using telehealth only for urgent care. These quick fixes give us automation and, ultimately, chokepoints designed to reduce utilization that are rooted in financial objectives, not health outcomes," Accolade CEO Rajeev Singh said.

"Every healthcare journey is personal. To deliver the right healthcare, we must build real human relationships in the moments that matter and personalize the experience using data and technology. Healthcare that works is personal, value based and measurable. That is the promise of Personalized Healthcare. Our new solutions, Accolade One and Accolade Care, realize that promise for employers of any size, anywhere in the country."

Personalized Healthcare addresses the growing recognition that an exceptional employee experience depends on providing an exceptional healthcare experience. Employees are demanding more and want to work for a company that treats them as partners who bring their whole selves to work.

A survey by SHRM revealed that more than half of U.S. employees cited healthcare as a reason to consider changing jobs. Now, more than ever, employers can make sure their peoples' healthcare experience is a positive one.

Personalized Healthcare — A new category that redefines healthcare delivery
Personalized Healthcare consists of three core pillars:

• Personal: Enabling trusting, long-lasting relationships that result in better health outcomes by prioritizing human connection.
• Data driven: Delivering the right healthcare at the right time at scale requires evidence-based, data-driven decisions that leverage intelligent technology
• Value based: Focusing on demonstrable health outcomes, patient and provider satisfaction, and delivering high-quality care at lower costs.

Here's what CEO Rajeev Singh says about Personalized Healthcare.   

Accolade announces healthcare offerings for employers

All the solutions in Accolade's portfolio meet the demands of a true Personalized Healthcare approach, while giving customers flexibility to engage Accolade as best meets their current needs.

The two new solutions are:

• Accolade One is a value-based solution that blends world-class primary care and mental health with the capabilities of powerful care teams, expert medical opinion and clinical programs that manage the costliest chronic conditions. Other solution features include:
• Convenient access to primary care and mental health professionals.
• Integrated virtual and physical experience for members, from benefits questions and primary care treatment to brick-and-mortar facilities referrals, to close the gaps. between care episodes and empower members to receive high-quality care in the way that meets their needs.
• A value-based payment model where Accolade guarantees successful outcomes.
• Accolade Care is the first solution to seamlessly blend primary care and mental health in a collaborative care model. Accolade's multidisciplinary care teams include registered nurses, primary care physicians, health coaches, pharmacists, mental health professionals, and other clinical extenders to surround the patient and work together to treat them as a whole person who is empowered to take the next best step in their healthcare journey.

"The data shows that the most effective way to deliver better health outcomes is to treat the whole person, body and mind," Dr. Shantanu Nundy, chief medical officer at Accolade said. "Our clinical model puts primary care doctors, mental health professionals and care navigators together on the same care team. This approach, combined with intelligent technology and data, has the potential to solve the mental health and chronic care crises that plague our country. By taking an integrated approach to primary care, we can treat the whole person and create measurably improved health outcomes for working Americans anywhere."

To complement the new offerings, Accolade has refreshed its existing portfolio to reflect its commitment to Personalized Healthcare:

• Accolade Expert MD (formerly 2nd.MD) provides people and their families with expert medical opinions from the nation's top specialists as well as personalized local support, advocacy and navigation services.
• Accolade Advocacy is the family of core solutions that help people and their families navigate the complexity of benefits and healthcare to improve the experience, improve outcomes and reduce costs.

Customer and partner testimonials

MetaSource

"Accolade has been a trusted partner in our journey to improve and simplify the healthcare benefits experience for our employees.  In an increasingly virtual environment, we continue to search for the best ways to ensure that our team and their families have access to the right care, available at the right time, in their preferred language, no matter where they live. We're confident that Accolade One will continue to be part of that solution, helping to deliver the right healthcare to our employees and their families with an easily accessible, streamlined experience," said Scott Allen, VP of Human Resources. "The industry needs quality healthcare that's both data driven and personalized, and we're excited to partner with Accolade on this new solution."

Humana

"Accolade's unique combination of personal attention and data-driven insights has helped us deliver human-centric care and innovation – both key components of the new Personalized Healthcare category being announced today," said Caleb Gallifant, Vice President of Products and Partnerships for Humana's Employer Group Segment.

Rx Savings Solutions

"Using data and insights to help people make better healthcare decisions is core to how we operate, so collaborating with Accolade has been a natural fit for us," said Michael Rea, CEO of Rx Savings Solutions said. "Accolade's Personalized Healthcare approach will deliver high-quality care and support that is carefully personalized for each patient's individual needs, helping millions of Americans get the right care and access to prescription-saving opportunities."

Virta Health

"The combination of personalized, data-driven and value-based care is integral to our diabetes reversal offering, and aligns perfectly with Accolade's vision for Personalized Healthcare," Sami Inkinen, Virta Health's CEO and co-founder said. "Together, we're rethinking our broken healthcare system with solutions that save money for payers and improve — or even save patient lives."

SWORD Health

"Fifty percent of Americans deal with musculoskeletal pain every year. In fact, MSK disorders are among the most common and expensive health challenges that people face today. At SWORD we believe that personalizing health care is critical to providing effective, affordable relief," said Virgílio Bento, CEO of SWORD Health. "We are so pleased to expand our chronic, acute, post-surgical, and preventative programs through the Accolade One offering. Together, we fully integrate our collaborative, doctor-driven approach to managing physical pain into a full suite of capabilities that addresses both physical and mental health for our members. Our mission at SWORD is to free 2 billion people from physical pain — and our partnership with Accolade will help make that happen."

About Accolade 
Accolade (Nasdaq: ACCD) provides millions of people and their families with an exceptional healthcare experience that is personal, data driven and value based to help every person live their healthiest life. Accolade solutions combine virtual primary care, mental health support and expert medical opinion services with intelligent technology and best-in-class care navigation. Accolade's Personalized Healthcare approach puts humanity back in healthcare by building relationships that connect people and their families to the right care at the right time to improve outcomes, lower costs and deliver consumer satisfaction. Accolade consistently receives consumer satisfaction ratings over 90%. For more information, visit accolade.com.

 

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SOURCE Accolade

FAQ

What is the new healthcare category introduced by Accolade (ACCD)?

Accolade introduced Personalized Healthcare, focusing on value-based care with an emphasis on personal relationships and data-driven decisions.

What are the key components of Personalized Healthcare by Accolade?

Personalized Healthcare comprises three pillars: Personal, Data driven, and Value based care.

When was the launch of Personalized Healthcare by Accolade (ACCD)?

Accolade launched Personalized Healthcare on September 21, 2021, during its Evolve21 event.

What solutions were announced by Accolade (ACCD) related to Personalized Healthcare?

Accolade announced Accolade One and Accolade Care, designed to integrate primary and mental health care.

How does Personalized Healthcare address employee needs according to Accolade?

It focuses on enhancing the healthcare experience for employees, which is increasingly important for job satisfaction and retention.