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A Value-Based Insurance Model From SeeChange Health

From Health Plan Week (via AIS's Health Business Daily) comes word of a "startup health insurer aiming to incentivize behavior change for both healthy and chronically ill members (beginning to market) its products to small employers in Fresno, CA this fall."

One observer calls SeeChange's model "...the next logical iteration in plan design."

Several interesting things:
  • Small employers (fewer than 50 employees) are the target market here, a segment more used to being over-looked, over-charged and under-served by larger insurers.
  • Behavior change is incentivized. Members receive richer benefits if they're screened for - and actively managing - a chronic condition.
  • Not only does the plan accept the chronically ill and those at risk for developing a chronic condition, but it appears to embrace the possibilities of a new model based on prevention, active management and customer engagement through PHRs (offered through Health Insight), delivered through a narrow, focused provider network.
Venture capital firm Psilos Group provided $40 million in startup funding.

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