Alegeus Smart Account Mobile App a Game Changer for Health Benefits Industry
Clients view the app as a critical tool to differentiate and win, with a holistic health/wealth experience designed to bend the medical curve for employers and deliver tangible savings for consumers
WALTHAM, Mass.–(BUSINESS WIRE)–Alegeus, the market leader in consumer-directed healthcare (CDH) solutions, today shared client feedback on its innovative, market-first Smart Account Mobile App. The offering, which was first unveiled at the company’s 2019 Client Conference, leverages artificial intelligence (AI) and machine learning technology to deliver personalized healthcare spending and savings guidance for consumers.
Unlike other benefit account solutions currently available on the market, Smart Account is a holistic health/wealth experience that empowers savvier healthcare decision making by guiding consumers to save more and live a healthier life. For benefit account administrators competing in an increasingly crowded marketplace, Smart Account allows them to deliver expanded value and better outcomes for customers and participants.
“Consumers now expect personalized and convenient digital experiences in every aspect of their lives, and that includes healthcare,” said Steven Auerbach, Alegeus CEO. “But it will take more than just another account to help consumers navigate healthcare decision making. The Alegeus Smart Account is transforming how consumers manage their healthcare – from selecting healthcare coverage, to finding the right care, to getting the most value for their healthcare dollars.”
The Smart Account experience, which combines health and wealth resources into a single, intuitive experience, meets consumers where they are with personalized, data-driven guidance that takes the guesswork out of healthcare spending and savings decisions. High-level capabilities include:
- A modern, native mobile interface that integrates new health management capabilities with existing CDH self-service capabilities
- Data-driven tools, including a personalized Smart Score, which tells consumers how well they’re spending and saving, and offers tips for optimizing their healthcare finances
- AI-based recommendations that use historical spending data to drive better future outcomes (e.g. “You may have paid too much for this service.”)
- A “find care” feature that enables consumers to identify high-quality, low-cost, in-network care options based on patient satisfaction scores, cost and quality ratings
- A virtual medicine cabinet that provides recommendations for saving on prescription medications and monthly drug costs
- Long-term saving recommendations that help consumers make optimal savings decisions based on current savings trajectory vs. forecasted needs, and understand the implications of their decisions based on the future value of their money
- Intelligent prompts throughout the app to optimize the member experience for existing self-service functions beyond health savings accounts (HSAs) (e.g. “It looks like you need to provide a receipt for your latest debit card swipe.”)
- Year-end recommendations about funding and account enrollment that are based on the past year of health and wealth activity (e.g. “It looks like you didn’t hit your deductible or max out your HSA. Next year, we recommend the following funding levels.”)
Alegeus clients have already seen impressive results from use of the app. Nearly two-thirds of users reengaged with the app within the first month of use, demonstrating the power of convenient, digital-driven technology to drive engagement with healthcare spending and saving. Below are a few comments from clients that are already using the app:
- “The Smart Account app is a giant leap forward. It checks some pretty significant boxes, like access to real-time account information and guidance on the best spending and saving opportunities. I also love the shopping component. Searching for procedures and providers directly within the app – that’s some bang for your buck!” – Josh Collins, President, Nuesynergy
- “You can’t beat the convenient access to data in the palm of your hand. Not only can you find out which provider or prescription will save you money on the spot, but you can also receive recommendations for long-term savings based on your personal medical needs.” – Robert Christian, Operation/IT Manager, Office of Compliant Administration (OCA)
- “There are so many cool features in Smart Account. I like how it delivers personalized recommendations. From those who rarely visit the doctor to those with chronic conditions, insight from the app will ensure each person makes the best decision for their unique needs.” -Corinne Weston, Client Relationship Manager, Clarity Benefit Solutions
Alegeus is the market leader in consumer-directed healthcare solutions, offering an industry-leading benefits platform, benefit debit card and mobile app that are transforming the way people navigate the U.S. healthcare system. Our next-generation technology simplifies the administration of healthcare benefit accounts (including FSAs, HSAs, HRAs, wellness incentive, dependent care and commuter accounts), and uses data-driven insights to guide consumers to the best coverage, care and savings strategies. More than 350 Alegeus clients – including health insurance plans and third-party administrators – leverage our deep expertise and proven technology to administer benefit accounts for more than 30 million members and to process more than $9.1 billion in consumer healthcare payments annually. As the healthcare and benefit markets continue to evolve, Alegeus delivers solutions that enable clients to evolve their service offerings, operate their businesses more efficiently, and lead consumers to better health and financial decisions. The company is headquartered in Waltham, MA with operations in Orlando, FL and Milwaukee, WI.
Jennifer Irwin, 414-699-5927