Harnessing your member’s predictable irrationality for better health outcomes

Event Date: 12/2/2020

Event Overview

Wednesday, December 02, 2020
11:00 AM CT – 12:00 PM CT (60 minutes)
Vendor Spotlight Host: Wellth

You must use the Google Chrome or Firefox browsers when participating in the webinar.

Healthcare is built on the premise of “Classical Economics” that when given the information on how to maximize long term health outcomes (take this pill, exercise, eat healthy) members will choose to take the most rational and logical approach. In the real world, we know this isn’t true. CEO Matthew Loper will walk through some key principles of Behavioral Economics, how they can be applied in healthcare, and how digital health companies (like Wellth) are leaning into human nature and embracing the humanity of health plan partner members.

During this webinar attendees will learn:

Difference between Classical and Behavioral economics
4 key principles of behavioral economics that are particularly well suited to be employed in healthcare
Real world examples of Behavioral economics in healthcare leading to better outcomes
Applications to Health Plan and Provider needs
Potential pitfalls in designing behavioral economics based interventions

Notice to Participants:
Please note that this webinar is a Vendor Spotlight and will be a capabilities-focused presentation. While this vendor is not under contract with the Health Plan Alliance, we believe this webinar will provide you the opportunity to learn more about this vendor and the programs and services it provides. Offering this webinar does not imply that the Health Plan Alliance endorses this vendor. The webinar is merely for informational purposes only. Should you wish to share feedback and/or have questions about this vendor, please contact Jaime González, the Alliance’s Chief Business Development Officer, at jaime.gonzalez@healthplanalliance.org or 972-830-6355.

Documents

12/2/2020

Presentation: Harnessing your member's predictable irrationality for better health outcomes
Wellth provides an overview of why classical economics approaches tend to fail in the real world, an introduction to behavioral economics in healthcare & how these principles embrace empathy, equity and humanity in members and patients, and also give insights into the impact of "hacking" into people's innate and somewhat predictable irrational behaviors to get better health outcomes.

12/2/2020

Brochure: Randomized Controlled Trial shows Wellth reduces hospital readmissions post-ACS by 45%
By making healthy behaviors attractive and attainable, Wellth creates motivation - leading to increased patient engagement, improved medication adherence, and, ultimately, positive patient outcomes. These results provide quantitative proof of Wellth's real impact on its members lives and the priorities of health plans and providers.