The Boston-based company concludes the year with a 100% year over year revenue growth that further accelerates its commitment to fixing American health insurance
BOSTON, Jan. 12, 2022 (GLOBE NEWSWIRE) — Wellframe, the provider of the market-leading digital health management platform, closes 2021 with momentous growth. From notable business deals to industry-wide acknowledgements, Wellframe established itself as a leader in the space with 40% year over year growth in members onboarded to its platform and an acquisition by HealthEdge Software, provider of the industry’s leading next-gen integrated solution suite for health plans. The closed acquisition will further advance Wellframe’s footprint in the digital health transformation movement.
“We’re proud of what we accomplished in 2021, having realized meaningful growth in members, customers and revenue,” said Jake Sattelmair, founder, executive vice president and general manager of Wellframe. “In combining with HealthEdge, we are well positioned to further scale the reach and impact of our digital health management solutions in 2022 and beyond, as we enable health plans to deliver 21st century member services and experiences.”
Wellframe’s additional successes in 2021 include:
- A 20% YoY increase in messages sent by care managers, totaling 1.75 million messages, and 100% YoY revenue growth.
- A peer-reviewed article in the Journal of Medical Economics validating the positive impact of digital care management with clinical research. The article shows that implementing Wellframe reduced inpatient admissions by 17%.
- A peer-reviewed article in the Journal of the American Heart Association highlighted that patients using Wellframe’s mobile app were 1.8x more likely to complete the cardiac rehabilitation program.
- Its Medicaid Maternal Health impact report, which focused on COVID-19 concerns, Medicaid maternity support and more across the Wellframe platform. The report found a 300% increase in messages related to COVID-19 exchanged on the Wellframe platform since October 2020.
- Its Care Transitions impact report, which focused on engagement trends and how health plans can improve care transitions among seniors across the Wellframe platform. The findings showed that seniors using digital health tools benefited from a drastic decrease of inpatient utilization (40%) and ER utilization (29%).
- Ranked at #254 in Deloitte’s Fast 500, which recognizes the fastest growing technology and life sciences companies in North America.
- Named finalist in the 3rd Annual UCSF Health Awards in the consumer prevention category, which honors the world’s newest technological methods that will define the future.
- Hosted a virtual conference, “Recharge 2021,” with more than 200 health plan leaders for a full day of informational panels on implementing digital health management platforms.
The successes and innovations from the past year opened more doors for Wellframe, enabling the company to continue to move insurance from a transactional, episodic experience to a continuous relationship driven and rewarding one.
To learn about Wellframe, please contact us: https://www.wellframe.com/contact-us/.
Wellframe strategically partners with health plans nationwide to reimagine the relationship between plans and members. Our digital health management solutions for care management and advocacy enable a level of care and support that empowers people and organizations to achieve their best. By combining innovative solutions, strategic partnership and passionate conviction, Wellframe creates measurable impact on lives, at scale.
For more information on Wellframe, visit www.wellframe.com.