Kiio’s digital therapeutic dramatically cut medical costs by reducing utilization of Emergency & Urgent Care, aggressive treatments & diagnostics, and prescription medication.
Madison, Wis. (March 26, 2019) – WEA Trust and Kiio released the results of a two-year claims data analysis evaluating the impact of Kiio’s digital therapeutic on medical utilization and cost of care for low back pain. WEA Trust began offering Kiio’s digital therapeutic to its public sector employee members in 2018.
Further validating that healthcare payers are actively investing in solutions to improve value through enhanced member engagement, Kiio Inc. announced today it has received a $1 million investment from WEA Trust, a not-for-profit insurance company that provides group health insurance and administrative services to public employers throughout Wisconsin.
“We’re excited about Kiio because their individualized care solution transforms the way members interact with healthcare,” WEA Trust President and CEO Mike Quist said. “It’s our vision at WEA Trust to ensure our members receive effective, affordable, convenient and high-quality care.”
The Kiio Platform, which launched in January, optimizes outcomes and the patient experience by delivering individualized information and care tailored to a patient’s specific situation. Kiio’s Low Back Pain program employs an automated multi-level screening and triage process to provide the patient with evidence-based care and coaching to reduce pain and improve quality of life.
“We are very excited to have WEA Trust as both a customer and an innovative partner,” Kiio President and CEO Dave Grandin said. “Their investment reinforces an alignment of interests where technology conveniently enables improved outcomes for patients at lower costs for both the patient and insurer.”
The capital will be used to further advance commercialization efforts of Kiio’s Low Back Pain Program. Kiio has stated plans to seek venture capital investment in 2018 for further development and commercialization of its health engagement platform.