Addiction recovery platform Quit Genius is diving into the payer space thanks to a new partnership with B2B insurance company Evry Health. As part of the deal, Evry Health’s Dallas-based members will have access to Quit Genius’ digital services, which include treatment for tobacco, alcohol and opioid addiction.
This move is part of Quit Genius’ larger strategy to expand into the payer market.
“Payers are a focus of our go-to-market strategy. We are partnering with payers across the nation to make Quit Genius an in-network option, offering a flexible billing model to meet the needs of the payer and their plan strategy.
“Value-based care models including performance guarantees and risk arrangements will continue to be an essential feature to ensure that we drive value to our payer partners,” Dr. Yusuf Sherwani, cofounder and CEO of Quit Genius, wrote in an email to MobiHealthNews.
Due to the deal, Quit Genius’ digital tools will be part of Evry Health’s personalized wellness plans, without additional cost to the employer or employee. Quit Genius can be recommended to members who use a rehabilitation clinic or detoxification services. Members are also able to self-enroll.
“Our value-based care model allows us to drive significant cost savings for a payer population by increasing plan members’ access to SUD treatment much earlier in their care journey. Our belief is that payers ultimately want to pay for performance and are in exchange willing to drive scale to providers with the very best outcomes,” Sherwani said.
WHY IT MATTERS
The opioid epidemic continues to sweep through the U.S. The CDC reports that 1.6 million people had an opioid use disorder in the past year. In 2019 more than 70,000 people died from a drug overdose, according to the agency.
During the COVID-19 pandemic there has been an uptick in alcohol usage. According to research published in Hepatology by a team at Massachusetts General Hospital, excessive drinking increased by 21% during the COVID-19 pandemic.
Many stakeholders are turning to technology as a way to help support recovery.
THE LARGER TREND
Quit Genius has caught the eye of investors. In July 2021, the company announced a $64 million Series B funding round, which brought the company’s total raise to $77.5 million.
Quit Genius isn’t alone in the digital recovery space. Online alcohol treatment platform Monument closed a $10.3 million Series A funding round in January 2021.
Pear Therapeutics has been working in the substance use disorder space for some time. In 2017, the company landed an FDA De Novo for its DTx for substance use disorder. The following year, Pear scored an additional FDA clearance for its product focused on opioid use disorder.