Milu Health - 3x3x3 Challenge with Sasha Gribov
Milu is the first platform that connects to electronic health records and sends real time notifications to employees on ways to save money and get the best care.
Transcription:
What is Milu Health?
So Milu is the first proactive realtime cost savings platform for employees. What we actually do is connect to electronic health records, which was never before available, and we find ways that employees can save money on their healthcare costs or get amazing care, and then we notify them in real time with a text message or an email or a phone call whenever they can be going to a high quality doctor, saving money on a procedure, saving money on a prescription, or fighting a bill that was potentially incorrect, or where they might have been eligible for financial aid.
How is Milu Health different?
So what's really cool is Milu could not have been started last year or the year before or the year before. There was a law that was passed, the 21st Century Cures Act, that came into effect last year, that said that every patient in the country has the right to get their electronic health record and share it with a trusted third-party app. And what we've done at Milu is become that trusted third-party app for the benefit space. We connect to over 40,000 different hospitals, hospital groups, physician groups, etc. And when we connect to those charts, we receive the data in real time, so that we can notify an employee right when they need something, that there's a better option for them or a way to save money. In the past, folks might do that off of claims data or off of prior authorizations, which are all great, but it's very hard to change the decision at the moment the employee needs it, whereas with the EHR, we're able to do that.
Who is a good fit for Milu Health?
So Milu is not a disruptive solution, meaning that you don't need to change anything about your plan, your carrier, your TPA. We can roll out in the middle of the year, during open enrollment, whenever it makes sense. That said, we're most impactful for folks who are self-funded, and for groups that are focused on reducing costs to the plan and to the employee. One really good use case is employers that have lower wage workforces, because one of our products is a financial aid product, where in an automated fashion, we can go and find which employees might be eligible for financial aid at a nonprofit hospital, which is by the way, 80% of the hospitals in the country, and ping them, and go get their bill reduced to zero or by half.
Transcription:
What is Milu Health?
So Milu is the first proactive realtime cost savings platform for employees. What we actually do is connect to electronic health records, which was never before available, and we find ways that employees can save money on their healthcare costs or get amazing care, and then we notify them in real time with a text message or an email or a phone call whenever they can be going to a high quality doctor, saving money on a procedure, saving money on a prescription, or fighting a bill that was potentially incorrect, or where they might have been eligible for financial aid.
How is Milu Health different?
So what's really cool is Milu could not have been started last year or the year before or the year before. There was a law that was passed, the 21st Century Cures Act, that came into effect last year, that said that every patient in the country has the right to get their electronic health record and share it with a trusted third-party app. And what we've done at Milu is become that trusted third-party app for the benefit space. We connect to over 40,000 different hospitals, hospital groups, physician groups, etc. And when we connect to those charts, we receive the data in real time, so that we can notify an employee right when they need something, that there's a better option for them or a way to save money. In the past, folks might do that off of claims data or off of prior authorizations, which are all great, but it's very hard to change the decision at the moment the employee needs it, whereas with the EHR, we're able to do that.
Who is a good fit for Milu Health?
So Milu is not a disruptive solution, meaning that you don't need to change anything about your plan, your carrier, your TPA. We can roll out in the middle of the year, during open enrollment, whenever it makes sense. That said, we're most impactful for folks who are self-funded, and for groups that are focused on reducing costs to the plan and to the employee. One really good use case is employers that have lower wage workforces, because one of our products is a financial aid product, where in an automated fashion, we can go and find which employees might be eligible for financial aid at a nonprofit hospital, which is by the way, 80% of the hospitals in the country, and ping them, and go get their bill reduced to zero or by half.