Loneliness costs an estimated $6.7 billion to Medicare each year. Depression, Alzheimer’s Disease, and dementia become costly conditions for payers and providers. Medicare Advantage helps people diagnosed with dementia (codes HCC51 and HCC52). LifeBio can be offered as a social need solution that increases social support for members and improves life satisfaction. LifeBio offers health insurers opportunities that can lead to a reduction in costs by improving mental health and reducing loneliness.
LifeBio provides a social engagement platform online and by phone to improve mental health outcomes. LifeBio engages elders using a scalable telehealth engagement platform called MyHello. This program has been developed through years of research, to prove the effectiveness of phone engagement on those at risk of loneliness and social isolation. As of 2019, physicians in the U.S. can note an ICD-10 code for isolation as a health risk.
LifeBio enhances the patient experience by increasing social engagement and integrating personal storytelling into healthcare settings. Health insurers can improve care delivery and satisfaction scores while addressing body, mind, and spirit.
LifeBio offers a variety of options for engagement that can be offered to those you serve. People can participate in one-on-one or group calls with trained MyHello Guides, or they can be partnered with another member with similar interests. LifeBio conducted research on this program, which has shown that our processes reduced depression and increased life satisfaction and overall feelings of happiness.
Learn more about how the MyHello services can impact the health insurance world.
LifeBio offers custom license agreements, which include materials, training, and ongoing support. We are happy to provide you with more information, a sample pack, or a custom quote.