Marpai adds industry-leading virtual specialty care provider
to its value-based care network to improve member health and lower
employer costs.
NEW
YORK, July 5, 2023 /PRNewswire/ -- Marpai, Inc.
("Marpai" or the "Company") (Nasdaq: MRAI), an AI-powered
Third-Party Administrator (TPA) transforming self-funded employer
health plans, announces a relationship with NuvoAir U.S., Inc.
("NuvoAir") to offer virtual care for heart and lung conditions,
focusing on asthma, chronic obstructive pulmonary disease ("COPD")
and chronic heart failure ("CHF"), to its employer health plan
members and their families. Approximately 42 million people in the
U.S. live with asthma or COPD, which cause nearly 3.6 million
emergency room visits and hospitalizations, costing the nation over
$106 billion annually. CHF is
one of the leading causes of hospital admissions in the U.S., with
more than 6.2 million individuals diagnosed, costing the nation an
estimated $30 billion annually.
Marpai has thousands of members with these conditions, costing
plans over $12 million per year. This
new relationship with NuvoAir seeks to meet the increased urgency
employers face to address the care needs of employees and their
families living with these difficult to manage and costly
conditions.
NuvoAir is a value-based, integrated specialty care provider
offering a virtual-first care model that drives better health
outcomes for individuals living with cardiovascular and respiratory
diseases, thereby improving patient outcomes, increasing employee
productivity and saving costs for employers and
payors. NuvoAir's care model customizes clinical and
behavioral interventions to address the unique needs of each
individual, combining best-in-class remote monitoring technology
with a multidisciplinary virtual clinic, enabling continuous and
proactive treatment, triage, and management of chronic heart and
lung conditions. NuvoAir has demonstrated high engagement and
satisfaction with virtual-first care, along with improved health
outcomes.
Marpai is adding NuvoAir to Marpai Connect, its value-based care
network of proven clinical care partners focused on preventing,
mitigating, and reversing prevalent, high-cost conditions within
health plan populations. "We are proud to have created a
best-in-class value-based care model with NuvoAir to drive improved
health outcomes for our members, and lower costs for our clients,"
said Lutz Finger, President of
Product and Technology of Marpai. Using proprietary AI-powered
technology, Marpai proactively informs and educates health plan
members facing costly conditions, leveraging multi-channel
marketing to drive enrollment, nurturing participating members
throughout the process and delivering transparent, detailed
reporting to employers. NuvoAir is incentivized to deliver outcomes
for members, and employers only pay for program participation by a
member.
"We are thrilled to offer NuvoAir to address the high-cost heart
and lung conditions facing members of health plans we manage," said
Mr. Edmundo Gonzalez, Chief
Executive Officer of Marpai. "With NuvoAir, members and their
families can readily access care that can dramatically improve
their health and quality of life and avoid high-cost emergency room
visits and hospitalizations, which saves significant money for
employers and their respective health plans."
NuvoAir members have access to same-day appointments with a
dedicated team of specialists, including care coordinators,
respiratory therapists, health coaches, nurses, pulmonologists and
cardiologists. According to NuvoAir, its approach to care supports
people wherever they are on their health journey and has proven
results, with a self-reported 60% decrease in exacerbations, 80%
decrease in hospitalizations, and 87% improvement in quality of
life.
"Healthcare delivery often suffers from fragmentation,
inefficiencies, and increased costs. NuvoAir is dedicated to
addressing these gaps, focusing on heart and lung care, with a
commitment to leaving no patient behind," said Lorenzo Consoli, NuvoAir's Founder and Chief
Executive Officer. "We're excited to collaborate with Marpai,
extending our innovative care model to members and their families,
creating a best-in-class, value-based model that delivers
improved outcomes and saves costs for Marpai's clients."
NuvoAir is currently available to support individuals in 15
states, with plans to expand in the coming year.
For more information, please visit www.marpaihealth.com,
www.nuvoair.com or for investors, https://ir.marpaihealth.com.
About Marpai, Inc.
Marpai, Inc. (Nasdaq: MRAI) is an
AI-powered Third Party Administrator (TPA) delivering health plan
administration and services to employers that directly pay for
employee health benefits (self-funded employer health plans). As a
technology innovator in the $22
billion TPA sector representing over $1 trillion in annual claims, Marpai includes
services beyond traditional TPA services that improve health plan
value to members, and significantly reduces medical and
pharmaceutical costs for members and the plan. By leveraging AI and
big data, Marpai proactively enables early clinical interventions
by proven value-based care providers that can mitigate and reverse
costly conditions and avoid costly care. Marpai also helps members
fill gaps in annual care and guides them to high-value in-network
providers and affordable pharmacy solutions. Operating nationwide,
Marpai offers access to provider networks including Aetna and Cigna
and delivers all standard TPA services. For more information, visit
www.marpaihealth.com or https://ir.marpaihealth.com for
investors.
About NuvoAir
NuvoAir is a value-based specialty care provider that empowers
better care and lowers healthcare costs for people living with
cardiopulmonary conditions like COPD, CHF, and asthma. NuvoAir
combines an integrated virtual-first care model with best-in-class
remote monitoring technology and a virtual clinic to continuously
and proactively treat, triage, and manage complex heart and lung
conditions. NuvoAir works with health plans, accountable care
organizations, and providers to improve outcomes and lower the
total cost of care, and is currently offering care across 15 states
in the U.S. For more information, visit www.nuvoair.com.
Forward-Looking Statement Disclaimer
This press release contains forward-looking statements, as that
term is defined in the Private Litigation Reform Act of 1995, that
involve significant risks and uncertainties, including statements
regarding revenues, employee lives and cash. Forward-looking
statements can be identified through the use of words such as
"anticipates," "expects," "intends," "plans," "believes," "seeks,"
"estimates," "guidance," "may," "can," "could", "will",
"potential", "should," "goal" and variations of these words or
similar expressions. For example, the Company is using forward
looking statements when it discusses the potential benefits from
its relationship with NuvoAir, the benefits to be derived from the
use of NuvoAir's services and that NuvoAir offers the most
clinically advanced virtual cardiopulmonary care to its employer
health plan members. Readers are cautioned not to place undue
reliance on these forward-looking statements, which reflect
Marpai's current expectations and speak only as of the date of this
release. Actual results may differ materially from Marpai's current
expectations depending upon a number of factors. These factors
include, among others, adverse changes in general economic and
market conditions, competitive factors including but not limited to
pricing pressures and new product introductions, uncertainty of
customer acceptance of new product offerings, market changes, and
risks associated with managing the growth of the business. Except
as required by law, Marpai does not undertake any responsibility to
revise or update any forward-looking statements whether as a result
of new information, future events or otherwise. More detailed
information about Marpai and the risk factors that may affect the
realization of forward-looking statements is set forth in Marpai's
filings with the Securities and Exchange Commission (the "SEC").
Investors and security holders are urged to read these documents
free of charge on the SEC's web site at http://www.sec.gov.
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SOURCE Marpai