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2015 Medtech Company of the Year Finalists: Omada Health

2015 Medtech Company of the Year Finalists: Omada Health
Omada Health

Omada Health has been leading the “digital therapeutics” space. This new area of healthcare was created to help a vast number of people reduce their risk for chronic diseases that can be addressed by behavioral and lifestyle changes. Omada Health’s flagship Prevent program to lower the risk of obesity-related chronic diseases gives patients personalized, digital counseling that is intended to keep them motivated, accountable, and healthy. This, in turn, should help lower health care costs significantly, since chronic diseases are responsible for a large portion of U.S. healthcare spending.

For the Prevent program, Omada Health works with employers and health plans to find patients who are at risk for obesity-related chronic diseases. These patients are given a package that includes a wireless scale, a personal coach, learning material, and an online patient network. The company has even adopted a business model that only bills for payment on successful cases.

Omada Health is able to bill for the Prevent program through a medical claims process, just like any other covered benefit. This is because the company has proved that Prevent works through clinical trial data. A study published earlier this year showed that Prevent patients had an average 4.7% weight loss at one year and kept off an average 4.2% at two years. In addition, patients had a continued, meaningful reduction in hemoglobin A1c at two years. On average, their blood sugar levels improved from a prediabetic range to a normal range.

The company recently brought in $48 million through a Series C round from investors, including Humana and Providence Health & Services. The company’s research has helped the young field of digital therapeutics gain credible footing quickly. Earlier this year, Omada Health announced that the CDC had recognized Prevent as one of three digital programs that meet the standards for the National Diabetes Prevention Program. 

  

[Image courtesy of OMADA HEALTH]

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