Helping Patients and Insurers to Better Manage Chronic Conditions to Drive Down Costs (w/Michael Hennessy, CEO Diathrive Health)

Michael Hennessy founded Diathrive Health to helps patients and plans manage diabetes and its costs, with test strips that are 90% less expensive than market. 

Diathrive seeks to reverse the traditional model and give patients better care and outcomes while reducing the cost. Michael heard early-on "To not go into healthcare because the insurance companies are ruining it." But he found his finance and VC background could be put to work for both healthcare plans and patients, filling the gap between preventative services and patients' everyday lives. 

Diathrive performs an up-front claims analysis on an individual patient and guarantees a reduction in spend between $1,000-3,000 per person per year, putting 100% of its fees at-risk to achieve results that on average can save a carrier 70-80% per year. Michael says the science is in performing a complex claims analysis and applying the behavioural standards on diabetes to remove financial and administrative barriers for the individual at no-cost to them.  

Diathrive works without prescription and without a wait time, and allows physicians to not work. in a fee-for-service model, providing more time to focus on providing direct care for patients. The company distributes over health plans as the diabetes solution, benefits management organizations, brokers-consultants and also direct to employers including municipal government. 

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