Magellan Healthcare Launches New Senior Assistance Solution

Rhea-AI Summary

Magellan Healthcare has launched a new Senior Assistance solution powered by DUOS, aimed at helping older adults live independently. This program connects seniors with personal assistants, called 'Duos', to address their social needs and facilitate long-term support. With projections indicating that seniors will outnumber children by 2034, the solution aims to ease the burden on caregivers and enhance the behavioral health outcomes of older adults. A pilot program showed a 93% success rate in addressing social determinants of health, marking a significant step towards enhancing senior care.

Positive

• Launch of Senior Assistance solution to enhance independence of older adults.
• Pilot program achieved a 93% success rate in addressing social determinants of health.
• Provides personalized plans and weekly check-ins to meet ongoing needs.

Negative

• None.

Solution is powered by DUOS and will help older adults stay connected and live their lives with greater independence and self-sufficiency

FRISCO, Texas--(BUSINESS WIRE)-- Magellan Healthcare, Inc., the behavioral and specialty healthcare segment of Magellan Health, Inc., today announced the launch of their new Senior Assistance solution powered by DUOS. The collaboration pairs older adults with personal assistants, or “Duos,” who focus on members' social needs and help them maximize their independence by building long-term, high-trust one-on-one relationships. They also coordinate community resources and work with families, health plans and providers to ensure holistic, personalized support.

The nation is aging at an unprecedented rate. By 2034, people over 65 are projected to outnumber children for the first time in U.S. history,¹ leaving a deficit in the ability to care for them. This increase is putting stress on more than 42M caregivers to older adults,² 21% of which have exited the workforce given the strain.³

“Most older adults want to age at home but lack the social support they need. Magellan Healthcare’s Senior Assistance solution takes care of older adults’ aging needs while easing the burden on their unpaid caregivers,” said Caroline Carney, M.D., Magellan Healthcare’s President of Behavioral Health and Chief Medical Officer of Magellan Health. “Behavioral health outcomes can be impacted by social and economic factors, and our Senior Assistance solution addresses the needs of individuals holistically to help them achieve improved health while also lowering costs."

Together DUOS and Magellan address the aging and behavioral health needs of older adults and their caregivers by identifying social, behavioral, and care navigation needs and connecting the member with available health plan benefits, government programs, and community resources. DUOS proprietary System of Aging, combined with the personal support of a “Duo,” ensures each member’s unique needs are met.

Through the Senior Assistance solution Magellan members receive a personalized plan and weekly virtual check-ins to help them meet ongoing and daily needs support in addressing concerns that may be preventing them from aging independently. These needs often include housing, transportation, meals and groceries, healthcare navigation, social enrichment, and concerns regarding frailty and falls in the home. Healthcare needs are coordinated with families, health plans and primary care providers to ensure holistic and personalized support. Additionally, members receive help with referrals to behavioral health services to achieve life-changing recovery from serious mental illness and substance use disorders, build resiliency and live more independently.

Last year, Magellan Behavioral Health of Pennsylvania launched a pilot program where members were connected with DUOS to help them stay healthy and age independently. Forty five percent of the members engaged in our pilot indicated they were socially isolated some or most of the time, a rate that is 80% higher than the average rate of isolation for older adults.⁴ The pilot resulted in a 93%⁵ success rate in addressing members’ social determinants of health (SDOH) needs and an 85% retention rate. Additionally, transportation and healthcare navigation were identified as the greatest needs among enrolled members, followed by food and housing. Magellan’s Senior Assistance solution builds on the success of this pilot program.

“Our teams are equally committed and passionate about solving these aging challenges for older adults and their caregivers. We are excited about how DUOS is solving aging needs for our pilot members using our technology and the support offered by our Duos, resulting in highly satisfied members whose day-to-day lives are made easier,” said Karl Ulfers, co-founder and CEO of DUOS.

About Magellan Healthcare: Magellan Healthcare, Inc., the healthcare business unit of Magellan Health, Inc., offers solutions for complex conditions in the areas of behavioral health and medical specialty treatment. Magellan Healthcare and its subsidiaries serve commercial health plans, employers, state and local governments, and the Federal government, including the Department of Defense. For more information, visit MagellanHealthcare.com.

About Magellan Health: Magellan Health, Inc. is a leader in managing the fastest growing, most complex areas of health, including special populations, complete pharmacy benefits and other specialty areas of healthcare. Magellan supports innovative ways of accessing better health through technology, while remaining focused on the critical personal relationships that are necessary to achieve a healthy, vibrant life. Magellan's customers include health plans and other managed care organizations, employers, labor unions, various military and governmental agencies and third-party administrators. For more information, visit MagellanHealth.com.

About DUOS: DUOS is a digital health company focused on helping older adults stay connected and age independently. Founded in 2020, DUOS focuses on older adults’ social needs and maximizes their well-being by connecting them with untapped health plan benefits and building high trust relationships with their Duo, a personal guide to all things aging well. The DUOS’ System of Aging technology connects caregivers, health plans and healthcare providers to maximize benefits engagement and ensure holistic, personalized support. Listen to our soundtrack on Spotify, follow us on Facebook, Instagram and LinkedIn, and visit us at www.getduos.com.

(MGLN-GEN)

¹ Older People Projected to Outnumber Children (census.gov)

² https://www.aarp.org/ppi/info-2020/caregiving-in-the-united-states.html

³ https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7741261/

⁴ https://www.nationalacademies.org/our-work/the-health-and-medical-dimensions-of-social-isolation-and-loneliness-in-older-adults

⁵ July 2021-January 2022 Pilot Program

View source version on businesswire.com: https://www.businesswire.com/news/home/20221025005241/en/

Media:

Lilly Ackley

ackleyl@magellanhealth.com

(860) 507-1923

Source: Magellan Healthcare, Inc.

FAQ

What is the new Senior Assistance solution launched by MGLN?

The Senior Assistance solution connects older adults with personal assistants to help them maintain independence and address their social needs.

What were the results of the pilot program for MGLN's Senior Assistance solution?

The pilot program resulted in a 93% success rate in addressing members' social determinants of health and an 85% retention rate.

How does MGLN's partnership with DUOS benefit older adults?

The partnership enables personalized support and connects older adults to community resources, improving their overall well-being.

What is the significance of the Senior Assistance solution for MGLN investors?

The solution addresses the growing demand for senior care services, potentially enhancing market share and long-term profitability for MGLN.