CareSource invests $1M in digital health platform
CareSource, a Dayton-based health insurance company, will invest $1 million in a digital rehabilitative health and exercise company. The investment is meant to connect CareSource members to technology addressing care gaps.
Dayton's biggest company continues to invest in technology. This move is intended to improve customer service.
CareSource, a Dayton-based health insurance company, will invest $1,000,000 in a digital health and fitness company. The investment is intended to connect CareSource's members with technology that addresses care gaps.
CareSource, the largest managed Medicaid organization in the country, announced on February 2nd a $1,000,000 investment into Augment Therapy of Cleveland, which offers immersive, gamified technologies to patients for improved rehabilitation healthcare. Augment Therapy software is designed to support and motivate therapists as well as motivate patients.
In a press release, Josh Boynton said that CareSource believed Augment Therapy’s innovative, immersive tech can transform the way physical therapy is done in the health care sector and improve outcomes for patients who have significant disabilities or complex health needs.
The investment comes after the announcement earlier this year of a strategic alliance and pilot program between CareSource, Inc. and Augment Therapy. The program is underway in four Ohio locations and aims to expand rehabilitation care through augmented-reality therapy exercises. It also aims to research how the software of the company encourages children and adults to increase their exercise levels, while determining feasibility rates and adherence rates.
Both the nonprofit and the company anticipate increased engagement and compliance with rehabilitative services, which may further impact on a reduction of inpatient stay, an increase in functional mobility, a reduced risk associated readmissions and an improved patient satisfaction. They plan to expand the program into new markets, including Ohio, Georgia and Indiana.
Lindsay Watson, CEO of Augment Therapy and co-founder, said that the investment is a sign of a stronger partnership between CareSource.
Watson stated in the press release that he was proud to be working with an organization which invests in innovations designed to specifically address the needs and concerns of marginalized populations such as children, the disabled, and the elderly.
The technology of Augment Therapy can be used across a wide range of settings. From children's hospitals to adult rehabilitation centers, skilled nursing facilities to at-home care for providers. Its
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