As 2022 is coming to an end, we want to take a look back at this year and recap all of the exciting news and progress that HealthJoy has made. It’s hard to believe that we’re already here again, wrapping up another year. This has been a year marked by perseverance, and as I reflect on it, I’m filled with gratitude.
That gratitude starts internally, as our global team has faced unimaginable challenges. But in the face of adversity, they were still able to contribute in ways that helped us reach a new level in 2022. Our growing team stateside also set new standards of excellence and helped launch countless initiatives that have strengthened our platform.
My gratitude also extends to every single person that puts their trust in HealthJoy for the benefits they rely on. We always strive to guide members to affordable, high-quality healthcare, and because of you, we’re able to do that.
So, before we move on to 2023, let’s recap all of the exciting things that made 2022 a great year for HealthJoy.
We're still feeling the excitement from our October announcement that HealthJoy secured $60 million in funding. The funding was led by Valspring Capital, a new growth equity fund founded by the former Bain Capital Ventures healthcare investment team, with participation from new investors Endeavour Vision and CIBC Innovation Banking. Existing investors also participated in this funding, including: US Venture Partners, GoHealth co-founders Brandon Cruz and Clint Jones, Health Velocity Capital, Nueterra Capital and Epic. This puts HealthJoy at over $108 million in lifetime funding raised.
This funding put us in the strongest position we’ve ever been as a company. As a result, we now have the financial capability to steer this company forward towards some of its most ambitious goals.
Innovation is top of mind as we enter this next chapter for HealthJoy. Here's a few ways we're putting this into action:
We want to be a partner that helps businesses attract top talent. And right now, benefits are more important than ever for job seekers.
We're making it more approachable for employers to navigate their existing benefits to help with that talent war, while offering additional point solutions that they may not have had the bandwidth or confidence to offer before implementing HealthJoy into their benefits suite.
As always, we're working to guide members to more affordable, high quality care by consolidating the health and wellness strategies of our customers. When we do this, we empower teams to minimize healthcare costs and improve outcomes through better benefits engagement. We already partner with over 1,000 companies in the US, and help HR leaders better manage and deliver world-class benefits to nearly half a million employees and dependents.
We were excited to announce our partnership with Teladoc earlier this year, which will officially be available to members starting January 1, 2023.
This partnership will allow us to integrate Teladoc's product suite into the HealthJoy app to create an all-in-one solution for members.
Members will benefit from this partnership through seamless enrollment and specialized program expansion. This expansion of the virtual care programs we offer to employers includes:
At HealthJoy, we simplify the healthcare experience to provide you and your family with the highest-quality, lowest-cost care options. We continue to make a strong investment aimed at enhancing our steerage capabilities.
By using health data to proactively provide personalized health recommendations, we aim to reduce costs while still guaranteeing the highest quality of care. Here are a few ways we’ve seen this steerage make a difference in many lives:
Our clinical coaches and concierge team provide you and your family with personalized recommendations to meet your in-the-moment needs. We use your health data to reach out earlier in your healthcare journey, ensuring your decisions align with your health and financial needs.
HealthJoy provides you and your family with better quality, lower-cost alternatives for the service or procedure you seek. With more options at your fingertips, you easily pick best-in-class providers at competitive prices.
We know that more than half of all debt in the U.S. is related to medical expenses, and strive to provide recommendations that fit your health and financial needs. And not only can you save money with HealthJoy itself, but you’ll also be eligible to earn rewards when taking our recommendations.
Our virtual assistant, JOY, now kicks off the conversation by providing a list of topics for members to choose from. JOY guides members more efficiently to answers to common benefits questions like:
Our Broadcaster tool allows HR teams to easily send push notifications and in-app messages about important benefits initiatives. With HealthJoy's new Broadcaster Preview, HR teams can preview what their broadcast will look like directly in the Broadcaster workflow before scheduling their broadcast. The result? Enhanced peace of mind when they click send, and greater engagement with benefits.
To enhance the user experience and expand HealthJoy’s clinical ecosystem, we were thrilled to announce the addition of a Clinical Coaching team in February. Clinical Coaching was a big step toward facilitating a more holistic health experience and establishing stronger relationships with members through proactive outreach.
So, what exactly is a clinical coach?
A Clinical Coach is a trained, certified partner that supports members in setting and achieving their health and wellness goals. They develop strong, personal relationships, and help individuals overcome potential obstacles to health improvement. Our Clinical Coaches also help with accountability and encouragement at every step of the journey.
We use a combination of incomplete MSK intake surveys, in-app searches, and claims data to enable the Clinical Coaching team to conduct personalized outreach. From there, a Clinical Coach can make contact to figure out what kind of health solution they’re seeking, and provide personal navigation and support. This combination of data and human touch has already yielded great results in year one.
With our new Benefits Preview capabilities, the implementation and renewal review process has never been simpler. Clients can now easily preview all the different combinations of medical, dental, and vision plans and see how they’ll appear for members in the HealthJoy app.
If you use HealthJoy, we’re sure you know all about our Virtual MSK Therapy program. This program has already saved people from chronic pain and expensive out-of-pocket costs. Recent data shows that 96% of members who complete a monthly survey report clinically significant improvement regardless of pain duration or prior care, an amazing level of performance for people with chronic pain. With these updates, we can bring our MSK solution to the whole body.
New programming will empower members to address pain in their:
These additions will enable us to help 30% more people, offer our members a wider range of care to improve their wellbeing, and get them back to doing the things they love.
But don’t just take our word for it — here’s a recent success story we heard from a program participant: "I had a slip and fall onto concrete 3 years ago that severely affected my back. When I started this program I could only walk short distances, had very limited standing tolerance, experienced difficulty climbing stairs, and avoided bending or kneeling due to pain. I’m amazed to say that I’m now 100% pain-free and can even walk in heels again! I’ve never experienced anything better for my back pain than this program. I loved the usability of the app and how this program fit perfectly around my busy schedule. It’s wonderful that this program is completely free! My coworkers who are using this program absolutely love it, and I could not recommend it more highly!"
In 2022 we expanded our offering to include partnerships with innovative TPAs such as Consociate Health and HPI. When HealthJoy partners with TPAs, we use data —like diagnoses, claims insights, and upcoming procedures—that allows us to proactively engage with their employee populations during their care journey.
This integration enhances the traditional benefits experience by doing 100% of the navigation work for the member without having to notify HealthJoy of a healthcare need. We’re able to do this through file feeds that provide HealthJoy with pre-certification, claims, and case management data.
Thanks again for being a part of this journey with us. Whether you’re on this journey as a member of the HealthJoy team, you put your trust in us to handle your benefits, or you’ve been cheering us on, we appreciate every single one of you.
We have big plans for 2023 and are in a great position to execute those plans. I look forward to writing a similar post at this point next year, and celebrating changes that make our platform more effective and easier to use than ever before.