There’s no doubt that the cost of healthcare in the U.S. is a hot topic of debate, but a new startup called FwdHealth is looking to join the conversation. The idea is pretty simple.
FwdHealth is an app that links up with all of your existing fitness and wellness apps (for now that includes RunKeeper, MapMyRun, and FitBit, but the list continues to grow) and sends that data, aggregated and organized, to your employer. As it stands now, employers are reimbursed for having a healthier workforce, but sending that proof to the insurance companies isn’t always so simple.
FwdHealth allows employers to track the health and wellness of their employees, respond accordingly, and catch a break on costs after demonstrating that their employees are healthy.
Eighty-seven percent of the over $2 trillion spent annually on healthcare goes to the cost of the care itself, such as the work doctors do, emergency room visits, medication, and procedures. While most health tech companies are looking to reduce processing and administration costs, FwdHealth is focusing on reducing the need for care, thereby reducing the overall cost of health care at a particular organization.
To that end, FwdHealth focuses on giving employers the power to incentivize their workforce into healthy living, inevitably saving on health care costs in the long term.
FwdHealth is a SaaS solution that runs on a tiered subscription model with customers ranging from employers to insurers, or anyone in charge of population management. FwdHealth will also be offered as a white label technology so that city employee wellness plans won’t run into any conflicts of interest.
For now, the app is only available on Google Play, but the web dashboard and an iOS app will be available in early fall.
Original news: http://techcrunch.com/2013/08/30/fwdhealth-tracks-and-reports-your-health-to-employers-in-an-effort-to-cut-insurance-costs/