Value based health insurance. Podcast interview with SeeChange CEO Martin Watson
SeeChange Health is a brand new health insurance company built on the concept of “value based design,” which provides incentives including lower co-pays and deductibles for patients who actively manage their health. For example, patients need to do three things (see their MD for a routine annual wellness visit, undergo a biometric session similar to a life insurance exam, and register with SeeChange’s online portal) in order to go from 80/20 coinsurance to 100/0, see their out-of-pocket maximum drop from $3200 to $2200 and receive funding for their health incentives account of $200 for an individual or $400 for a family.
The company is launching in Fresno, CA with $40 million in private equity backing.
In this podcast interview, CEO Martin Watson describes the company’s strategy.
I’m excited to see innovators enter the space and hope that health care reform provides enough flexibility to allow them to operate successfully.