Alegeus, the market leader in consumer-directed healthcare (CDH) solutions, shared client feedback on its innovative, market-first Smart Account Mobile App. The offering, which was first unveiled at the company’s 2019 Client Conference, leverages artificial intelligence (AI) and machine learning technology to deliver personalized healthcare spending and savings guidance for consumers.
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Unlike other benefit account solutions currently available on the market, Smart Account is a holistic health/wealth experience that empowers savvier healthcare decision making by guiding consumers to save more and live a healthier life. For benefit account administrators competing in an increasingly crowded marketplace, Smart Account allows them to deliver expanded value and better outcomes for customers and participants.
“Consumers now expect personalized and convenient digital experiences in every aspect of their lives, and that includes healthcare,” said Steven Auerbach, Alegeus CEO. “But it will take more than just another account to help consumers navigate healthcare decision making. The Alegeus Smart Account is transforming how consumers manage their healthcare – from selecting healthcare coverage, to finding the right care, to getting the most value for their healthcare dollars.”
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The Smart Account experience, which combines health and wealth resources into a single, intuitive experience, meets consumers where they are with personalized, data-driven guidance that takes the guesswork out of healthcare spending and savings decisions. High-level capabilities include:
- A modern, native mobile interface that integrates new health management capabilities with existing CDH self-service capabilities
- Data-driven tools, including a personalized Smart Score, which tells consumers how well they’re spending and saving, and offers tips for optimizing their healthcare finances
- AI-based recommendations that use historical spending data to drive better future outcomes (e.g. “You may have paid too much for this service.”)
- A “find care” feature that enables consumers to identify high-quality, low-cost, in-network care options based on patient satisfaction scores, cost and quality ratings
- A virtual medicine cabinet that provides recommendations for saving on prescription medications and monthly drug costs
- Long-term saving recommendations that help consumers make optimal savings decisions based on current savings trajectory vs. forecasted needs, and understand the implications of their decisions based on the future value of their money
- Intelligent prompts throughout the app to optimize the member experience for existing self-service functions beyond health savings accounts (HSAs) (e.g. “It looks like you need to provide a receipt for your latest debit card swipe.”)
- Year-end recommendations about funding and account enrollment that are based on the past year of health and wealth activity (e.g. “It looks like you didn’t hit your deductible or max out your HSA. Next year, we recommend the following funding levels.”)
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