Health spending totaled $74.1 billion in 1970. By 2000, health expenditures had reached about $1.4 trillion, and in 2020 the amount spent on health tripled to $4.1 trillion. Increased demand for health care services, incidence of chronic illnesses and changes in government policy continue to drive costs up.
This unabated increase coupled with a shortage of doctors and nurses, inefficient, bloated systems and burnout rates among industry professionals have accelerated the shift to innovation, value-based care models and boosted productivity in health care ecosystems.
Source: “Consumer prices are rising fast, and healthcare isn’t far behind”, Shubham Singhal and Aneesh Krishna, McKinsey & Company, Feb 2022; “The Rising Cost of HealthCare by Year and Its Causes”, Kimberly Amadeo, The Balance, October 2022; “How has U.S. spending on healthcare changed over time?”, By Nisha Kurani, Jared Ortaliza, Emma Wager, Lucas Fox, and Krutika Amin KFF, February, 2022
Traditional FFS sleep solutions are built around providers and tend to have poor adherence and lead to claims waste. Based on industry data, typically, only 50% of members diagnosed with a sleep test start treatment and of that, only 50% of them remain in treatment beyond the first year.
While traditional solutions solve for some parts of the member journey with more affordable testing or patient monitoring systems or adherence requirements, they all place the burden on the member and do not drive positive outcomes. This means the true impact of improved sleep health is never felt in terms of both health and cost outcomes.
We share risk upfront, align payment to care delivery, deliver one case rate, and reduce complexity at the back end. Our solution consistently demonstrates the value of managed care that includes ongoing support, access to a network of sleep specialists, multiple levels of sleep testing, range of therapeutic equipment, mask fitting program, and ongoing supply replenishment.
Sleep health care is complex to deliver with long care cycles, so a coordinated care platform with behavioral and medical management provided by a team of sleep coaches, respiratory therapists, and sleep physicians who know their patients is the only way to ensure sustained success.
Based on Nox Client base assumptions