Dario Signs New Regional Health Plan, Expanding Reach in Medicaid Population
DarioHealth Corp. (DRIO) has secured a new contract with a regional health plan in the Medicaid space, marking its eighth health plan partnership and third Medicaid client. The agreement includes implementation of Dario's full suite of cardiometabolic solutions for nearly 10,000 Medicaid members. The health plan selected Dario based on its proven success with another regional plan and its ability to engage diverse populations through personalized experiences across multiple channels. The contract is expected to generate revenue starting in Q4 2024.
DarioHealth Corp. (DRIO) ha ottenuto un nuovo contratto con un piano sanitario regionale nel settore Medicaid, segnando la sua ottava collaborazione con un piano sanitario e il suo terzo cliente Medicaid. L'accordo prevede l'implementazione dell'intera suite di soluzioni cardiometaboliche di Dario per quasi 10.000 membri Medicaid. Il piano sanitario ha scelto Dario in base al suo comprovato successo con un altro piano regionale e alla sua capacità di coinvolgere popolazioni diverse attraverso esperienze personalizzate su più canali. Si prevede che il contratto genererà entrate a partire dal quarto trimestre del 2024.
DarioHealth Corp. (DRIO) ha conseguido un nuevo contrato con un plan de salud regional en el espacio de Medicaid, marcando su octa asociación con un plan de salud y su tercer cliente de Medicaid. El acuerdo incluye la implementación de toda la suite de soluciones cardiometabólicas de Dario para casi 10,000 miembros de Medicaid. El plan de salud eligió a Dario basándose en su éxito comprobado con otro plan regional y su capacidad para involucrar a diversas poblaciones a través de experiencias personalizadas en múltiples canales. Se espera que el contrato genere ingresos a partir del cuarto trimestre de 2024.
DarioHealth Corp. (DRIO)는 Medicaid 분야의 지역 건강 계획과 새로운 계약을 체결하여 여덟 번째 건강 계획 파트너십과 세 번째 Medicaid 고객을 확보했습니다. 이 계약은 Dario의 전체 심장 대사 솔루션을 거의 10,000명의 Medicaid 회원에게 구현하는 내용을 포함하고 있습니다. 건강 계획은 다른 지역 계획에서의 성공을 바탕으로 Dario를 선택했으며, 다양한 인구를 여러 채널을 통해 개인화된 경험으로 참여시키는 능력을 갖추고 있습니다. 이 계약은 2024년 4분기부터 수익을 생성할 것으로 예상됩니다.
DarioHealth Corp. (DRIO) a conclu un nouveau contrat avec un plan de santé régional dans le secteur de Medicaid, marquant ainsi son huitième partenariat avec un plan de santé et son troisième client Medicaid. L'accord comprend la mise en œuvre de l'ensemble des solutions cardiométaboliques de Dario pour près de 10 000 membres de Medicaid. Le plan de santé a choisi Dario en raison de son succès prouvé avec un autre plan régional et de sa capacité à engager des populations diverses à travers des expériences personnalisées sur plusieurs canaux. Le contrat devrait générer des revenus à partir du quatrième trimestre 2024.
DarioHealth Corp. (DRIO) hat einen neuen Vertrag mit einem regionalen Gesundheitsplan im Medicaid-Bereich gesichert, was seine achte Partnerschaft mit einem Gesundheitsplan und seinen dritten Medicaid-Kunden markiert. Die Vereinbarung umfasst die Implementierung von Darios vollständiger Suite an kardiometabolischen Lösungen für fast 10.000 Medicaid-Mitglieder. Der Gesundheitsplan wählte Dario basierend auf seinem nachgewiesenen Erfolg mit einem anderen regionalen Plan und seiner Fähigkeit, diverse Bevölkerungen über personalisierte Erfahrungen in mehreren Kanälen zu engagieren. Es wird erwartet, dass der Vertrag ab dem vierten Quartal 2024 Einnahmen generiert.
- New contract secured with regional health plan, expanding Medicaid market presence
- Immediate revenue contribution expected starting Q4 2024
- Addition of 10,000 new Medicaid members to platform
- Validation of business model through referral from existing client
- Initial implementation to pilot program
- Small member base of 10,000 compared to total market potential
Insights
The new Medicaid contract represents a strategic expansion in a challenging but growing market segment. With this being Dario's eighth health plan and third Medicaid client, the company is establishing a strong foothold in serving underserved populations. The initial 10,000 Medicaid member pilot program, while modest in size, provides a foundation for potential expansion.
The contract's immediate revenue contribution and the company's proven track record in engaging Medicaid populations are positive indicators. The cardiometabolic solution suite deployment demonstrates market validation of Dario's comprehensive approach. However, investors should note that Medicaid contracts typically have lower margins compared to commercial plans and success in the pilot phase will be important for long-term value creation.
This deal's significance lies in its market positioning rather than immediate financial impact. The Medicaid market represents a substantial growth opportunity, with over 80 million Americans enrolled. Dario's success in securing referral business through demonstrated results with another regional plan indicates strong product-market fit and potential for network effects in client acquisition.
For a company with a
The new contract marks the eighth health plan for Dario and will contribute to revenues starting immediately.
The launch with this new health plan marks the third Medicaid client for Dario, continuing a solid momentum within the Medicaid space. The newly signed health plan, familiar with Dario's results with another regional health plan, chose Dario based on the Company's success and reputation for driving engagement among diverse populations. Dario's ability to drive highly personalized member experiences across a wide range of channels and support modalities is attractive to Medicaid plans managing members with limited access to traditional channels. Starting with an initial pilot program, Dario will work closely with the health plan to bring its proven solutions to the plan's population, which includes nearly 10,000 Medicaid members.
"We believe that this contract demonstrates our ability to drive user engagement with historically hard-to-reach Medicaid populations, a challenge that few in our industry have successfully addressed," said Steven Nelson, Chief Commercial Officer at Dario. "Medicaid members present unique engagement challenges for digital health solutions, but our track record and novel approach to engagement has proven that Dario is ideally suited for this population. We pride ourselves on delivering value to our clients, which in this case has paved the way to this new relationship, which we estimate will contribute to our revenues in the fourth quarter of 2024. We see much more opportunity to expand in this segment of the market and we are committed to broadening our strategy to further our focus on Medicaid in 2025."
About DarioHealth Corp.
DarioHealth Corp. (Nasdaq: DRIO) is a leading digital health company revolutionizing how people with chronic conditions manage their health through a user-centric, multi-chronic condition digital therapeutics platform. Dario's platform and suite of solutions deliver personalized and dynamic interventions driven by data analytics and one-on-one coaching for diabetes, hypertension, weight management, musculoskeletal pain and behavioral health.
Dario's user-centric platform offers people continuous and customized care for their health, disrupting the traditional episodic approach to healthcare. This approach empowers people to holistically adapt their lifestyles for sustainable behavior change, driving exceptional user satisfaction, retention and results and making the right thing to do the easy thing to do.
Dario provides its highly user-rated solutions globally to health plans and other payers, self-insured employers, providers of care and consumers. To learn more about Dario and its digital health solutions, or for more information, visit http://dariohealth.com.
Cautionary Note Regarding Forward-Looking Statements
This news release and the statements of representatives and partners of DarioHealth Corp. related thereto contain or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements in this press release when it discusses the benefits of the Company's solutions, particularly with respect to Medicaid members; the Company's ability to drive user engagement with historically hard-to-reach Medicaid populations; the expectation that the new relationship will contribute to its revenues in the fourth quarter of 2024; the Company's future opportunities to expand in the Medicaid segment of the market; and the company's commitment to broadening its strategy and further its focus on Medicaid in 2025. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company's results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company's filings with the
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SOURCE DarioHealth Corp.
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