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+Oscar Builds on Innovative Member Engagement Tool to Further Drive Positive Outcomes for Members and Clients
Rhea-AI Impact
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Rhea-AI Sentiment
(Positive)
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Rhea-AI Summary
Oscar Health, Inc. (NYSE: OSCR) has launched its Next Best Actions engine, enhancing member communication through targeted messaging. Integrated with +Oscar’s Campaign Builder, it applies behavioral science to improve campaign conversion rates. The initiative has achieved a 48% engagement rate with members, driven a 20% rise in overall engagement, and increased campaign volume by 40%. This innovation aims to reduce information overload among members, facilitating better healthcare decisions and outcomes.
Positive
48% engagement rate from members in campaign communications.
20% increase in member engagement attributed to the new engine.
40% growth in the volume of campaigns targeting members.
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NEW YORK--(BUSINESS WIRE)--
Oscar Health, Inc. (“Oscar”) (NYSE: OSCR), the first health insurance company built on a full stack technology platform, announced today the launch of its Next Best Actions engine, a messaging framework that simplifies member communications. Built within +Oscar’s existing Campaign Builder technology, the Next Best Actions engine identifies unique opportunities at the individual level and follows a targeted messaging hierarchy to drive behavior change.
“Since our founding, we have been providing members with what we think is a unique experience,” said Mario Schlosser, Co-Founder and CEO. “Because we control our tech-stack from end-to-end, we’re able to build tools that allow us to respond to consumer pain-points and provide a less complicated experience. This flexibility helps us drive better outcomes for our members and allows us to quickly make this technology available to our +Oscar clients who want to leverage it for their audiences.”
+Oscar’s next generation Next Best Actions framework harnesses behavioral science principles to increase campaign conversion rates by ensuring that members or patients are only engaged with the single, highest priority action for them at any one time.
Too often, members disengage from important healthcare decisions due to overwhelming or irrelevant information –– the Next Best Actions engine was built to challenge this issue. The engine has been integrated within +Oscar’s Campaign Builder to provide a seamless communication experience. From a functionality perspective, the Campaign Builder eliminates decision fatigue and enables members to focus on the most important decision or action. Members can receive communications through multiple channels, including: email, in-app messages, push notifications, SMS, letters, faxes, and phone calls.
Since its launch, almost 50% of members have engaged in a campaign communication with engagement rates of 48%. The prioritization framework has also helped drive a 20% increase in member engagement. All this while Oscar has dramatically increased the volume of campaigns targeting members by 40%.1
To learn more about how +Oscar is helping payers, providers and disruptors better manage risk while driving improved efficiency, growth, and superior consumer engagement, please visit hioscar.com/plus-oscar.
About Oscar Health Oscar Health, Inc. (“Oscar”) is the first health insurance company built around a full stack technology platform and a relentless focus on serving its members. At Oscar, our mission is to make a healthier life accessible and affordable for all. Headquartered in New York City, Oscar has been challenging the health care system's status quo since our founding in 2012. The company’s member-first philosophy and innovative approach to care has earned us the trust of over one million members as of March 31, 2022. We offer Individual & Family, Small Group and Medicare Advantage plans, and +Oscar, our full stack technology platform to enable others within the provider and payor space. Our vision is to refactor health care to make good care cost less. Refactor is a term used in software engineering that means to improve the design, structure, and implementation of the software, while preserving its functionality. At Oscar, we take this definition a step further. We improve our members’ experience by building trust through deep engagement, personalized guidance, and rapid iteration.
