Transforming Patient Experience: How NewHealth is Revolutionizing Health Insurance

In the ever-evolving landscape of healthcare, one company is making waves by putting patient satisfaction at the forefront of health insurance. Tom Falvey, co-founder and CEO of NewHealth, recently joined us on the Healthcare on the Rocks: Employee Benefits with a Twist podcast to discuss how his company is transforming the patient experience in health insurance.
‍

Below, you’ll find highlights and takeaways from their conversation. Ready to listen to the full episode? Click here.

The Genesis of NewHealth

‍With over 20 years of experience in employee benefits consulting, Falvey unwittingly recognized a significant gap in the health insurance industry. "No one goes into college thinking it's gonna be health insurance," Falvey joked. However, his extensive background in the field led him to identify two crucial issues:

1. An ethical responsibility to share information between patients and doctors
2. A business opportunity to collect and utilize patient satisfaction data

These realizations led to the creation of NewHealth, a platform that collects patient satisfaction data after every health insurance claim.

How NewHealth Works

NewHealth's innovative approach is embedded directly into the claims processing platform. 

Here's how it works:

1. A patient visits their doctor and provides their insurance information
2. The doctor files a claim with the insurance company
3. NewHealth is triggered as soon as the claim hits the system
4. The patient receives a text message asking for feedback on their experience
5. If the patient participates, the survey results are automatically populated into a dashboard
6. The dashboard is accessible to the plan sponsor, HR team, finance team, and broker

This real-time feedback system allows for immediate insights into patient satisfaction and member satisfaction with their health plan.

Now, as a partner in the Springbuk Activate Marketplace, NewHealth seamlessly integrates with other health and benefits solutions to provide comprehensive insights for employers and brokers. With Springbuk Activate, these insights can be combined with other health and benefits data to create a more holistic view of employee health and program effectiveness.

Success Stories and Future Vision

Falvey shared a success story of a client who was struggling to move to a progressive pricing model due to concerns about patient experience. By implementing NewHealth, the client gained the confidence to make the change, resulting in a 35% reduction in costs over three years while maintaining high patient satisfaction.

Looking to the future, Falvey aims to make NewHealth the number one patient satisfaction platform in the country. "We want to provide a better solution to those people that are sick and need to find the best doctors and facilities," he stated.

Key Takeaways

1. NewHealth collects patient satisfaction data after every health insurance claim
2. The platform provides real-time insights for plan sponsors and brokers
3. Patient experience data can significantly influence healthcare decision-making
4. NewHealth's verified patient satisfaction scores offer a unique advantage in the marketplace

As the healthcare industry continues to evolve, platforms like NewHealth are paving the way for a more patient-centric approach to health insurance. By prioritizing patient satisfaction and providing actionable data, NewHealth is not just transforming the patient experience – it's revolutionizing the entire health insurance ecosystem.

To learn more about NewHealth and how it can benefit your organization, visit newhealthus.com or connect with Tom Falvey on LinkedIn.
‍

Listen to the full podcast episode here.
Explore the Navigator Healthcare and Springbuk partnership here.