CVS Caremark launched its point solution management program with a sleep service of great health nearly a year ago, and now it’s adding another of the digital mental health startup’s products to its suite of managed point solutions.
The Daylight product, which is designed to help people relieve worry and anxiety, will join a growing list of digital therapies that CVS Caremark offers to manage for employer-led healthcare plans.
Other services in the CVS Caremark portfolio of offerings include sleepio, a personalized digital sleep program from Big Health; hello heart, that helps members understand and improve their heart health; Hinge Health, which provides app-based coaching and a wearable sensor for the management of chronic back and joint pain; Livongo, which offers coaching, monitoring devices and digital treatments for conditions such as diabetes, hypertension, weight management and diabetes prevention solutions; Torchlight, a caregiver support solution; and Whereas, a digital training platform for mindfulness, stress resilience, mental well-being and performance.
âPlan sponsors are increasingly seeing the value of point-of-care solutions for improving productivity, satisfaction and overall workforce well-being, but with so many options in the market , it can be difficult to identify reliable solutions that best meet the needs of their members,” mentioned Sree Chaguturu, MD, chief medical officer, CVS Caremark, the pharmacy benefit management business of CVS Health, in a statement released earlier this year. âWe have analyzed pharmaceutical and medical claims to identify where these benefits can make a difference and use a rigorous and transparent evaluation process to ensure that any provider included in Point Solution Management meets high standards of safety, quality and user experience at the lowest price in the vendor market.
According to Chaguturu, plan providers are interested in point solutions that can digitally complement the care patients receive from physicians who can help with chronic disease self-management.
These self-managed, digitally-enhanced therapies are especially important at a time when more care is being delivered remotely thanks to social distancing requirements imposed by COVID-19 outbreak control efforts in the United States.
âThe Point Solution Management Platform is a platform designed for B2B2C, where plan sponsors contract through the platform to help their members,â Chaguturu said in an interview. “We are working with Big Health to support app awareness through our other platforms as well.
Rather than going direct to consumer like any number of other mental health and wellness apps vying for customers, Big Health has chosen to work with healthcare plans and services provided by employer like CVS Caremark because it can reach more people, said the co-founder of Big Health. Pierre Hammes.
âCVS has shown real forward thinking in implementing this platform to provide this conduit to digital care,â Hames said. “CVS Caremark administers benefits to more than 100 million people in America. The perimeter via the reimbursement space is enormousâ¦ We could adopt a direct-to-consumer model. [But] my experience has shown me that going through this reimbursed route provides a much greater vector.
The two companies declined to disclose financial terms of the deal between CVS and Big Health, but Chaguturu said the company did not invest in the solutions offered under its program or have any financial interest. in the business.
Big Health has raised more than $54 million from investors including Octopus Ventures, Samsung Next, Glide Healthcare, Morningside Group, Kaiser Permanente Ventures and Index Ventures, according to data from Crunchbase.