Blue Cross of Idaho Invests in Digital Platform, Improving Senior Care
Blue Cross of Idaho’s investment will help Endear Health expand its digital platform and facilitate access to healthcare programs for seniors.
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- Blue Cross of Idaho and several venture capital firms have invested in Endear Health, a digital platform that aims to improve value-based care delivery for Medicare Advantage beneficiaries.
The funding will help expand Miami-based Endear Health’s platform, which is designed specifically for seniors and allows them to access core and supplemental benefits and educational resources in one location.
Founded in 2021, the platform partners with Medicare Advantage plans and accountable care organizations (ACOs) to improve digital experiences for members. The technology aims to help plans increase star ratings and enhance member onboarding.
Endear Health leverages third-party digital health vendors to allow payers to efficiently deploy programs that can boost member satisfaction and health outcomes. For example, if a payer collaborates with a vendor to establish a pilot program, Endear Health can add the service to the payer’s portal. This can speed up the program testing process and gather real-time analytics to determine if the payer wants to move forward with it.
According to Endear Health, beneficiaries can use the platform to access programs their health plan provides, such as telehealth services, nutrition counseling, and over-the-counter medicine services. Additionally, the user-friendly platform collects social determinants of health data and offers personalized recommendations to plans and members.
As technology capabilities in healthcare become more common, older adults are not immune to these changes. According to Pew Research Center, 61 percent of adults 65 and older own a smartphone, and 73 percent of those use the internet daily. Leveraging a digital engagement platform can help consolidate online resources and minimize the digital divide.
In order to keep up with the evolving landscape, payers must strategically choose which technology resources to invest in. Blue Cross of Idaho’s investment in Endear Health signifies its efforts to improve value-based care delivery for Medicare Advantage beneficiaries.
“Blue Cross of Idaho remains at the forefront of closing gaps in care for Idahoans, and we are constantly seeking innovative, frictionless ways to improve the health and wellness of our members,” Drew Hobby, chief revenue officer for Blue Cross of Idaho, said in the press release. “We are excited to invest in Endear Health’s member-centric, digital solutions that connect seniors with plan benefits, programs, and even reminders for a check-up or screening.”
Blue Cross of Idaho offers Medicare Advantage plans in addition to individual and family plans, Medicare plans, Medicaid plans, and employer-sponsored health plans. In 2023, the payer’s Medicare Advantage offerings include True Blue HMO and Secure Blue PPO.
Streamlining the healthcare experience for Medicare Advantage through technology is especially important as enrollment continues to climb. According to KFF, more than 51 percent of Medicare beneficiaries are enrolled in a Medicare Advantage plan in 2023. This figure has consistently grown over the years from 19 percent in 2007.
The Congressional Budget Office estimates the share of Medicare beneficiaries enrolled in Medicare Advantage will increase to 62 percent by 2033.
Other investors in Endear Health include Optum Ventures, 8VC, and additional strategic partners. The total funding, including Blue Cross of Idaho’s investment, totals $8 million. Optum Ventures frequently invests in digital health and healthcare solutions.
