For many of us, a simple medical appointment is anything but. Cumbersome scheduling processes, insurance hassles, and harried doctors have become the norm. To make matters worse, healthcare premiums and out of pocket expenditures have drastically increased over the last decade. This ailing model is not only failing our health, but also our economy as healthcare costs soar and the quality of care suffers.
There is a better way and I’m excited to announce Norwest’s investment in Crossover Health, an innovative, health care provider for the workplace. Crossover provides on-site health-care services while delivering a high quality patient experience through integrated primary and ancillary care supported by engagement and health management technologies. By improving the way healthcare is financed, delivered and experienced, Crossover is lowering costs, increasing quality, and improving health and performance outcomes. I’ve been impressed with the company’s relentless focus on quality care and the patient experience.
As a firm, we have invested in many companies in the health sector, but this is our first U.S. investment in the employer healthcare delivery market. After watching this space for quite some time, we invested in Crossover because of its unique value proposition. We believe the company has reset expectations of the health care experience by rethinking and redesigning every aspect of health care delivery and as a result, is in a unique position to transform the industry.
Traditional care has historically been about fixing problems. Instead, Crossover partners with employers to build relationships and provide the motivation for employees to improve and sustain their health. It makes perfect sense to us that Crossover refers to their patients as ‘members.’ These members don’t simply visit Crossover when there’s an issue. They join Crossover to start their journey to better health.
Crossover changes the model by creating a culture-specific patient experience that encourages the day-to-day maintenance of health. The company works closely with clients to design benefits and customize services based on a review of a company’s health analytics. The company then engages employees in their own health through communication and care experiences that are inspiring and unique to the employer’s culture to truly motivate employees to live healthier lives.
Several major Silicon Valley companies, and others scattered throughout the U.S., are drawn to this model as they are keenly focused on delivering and sustaining a culture of health, productivity, and wellness. We believe many more leading employers will be seeking to deliver this type of value to their employees. In fact, 45-50% of 5,000+ person employers either have or are actively looking to build on-site care clinics. This is all good news.
Up-Ending the Waiting Room
Another major differentiator is that Crossover has eliminated the ”waiting room” concept and instead welcomes members to a “health and wellness center” that combines an interactive technology-enabled environment with a comfortable lounge setting where a mix of stone, wood and other natural elements are combined with indirect and natural lighting to ensure a calm and relaxing environment.
Crossover’s robust technology platform provides members with unequaled access, convenience, and capabilities in the management of their personal health. In fact, you can sign yourself in for your visit, update your personal Health Portfolio, or surf the web for health information when you arrive. That’s not a typical medical waiting room experience.
The model’s potential is tremendous and the engagement data backs it up with more than 70% of employees using Crossover services stating that the clinic is also where they choose to receive all their primary care. In fact, due to the minimal wait time of less than five minutes at their health centers, employees report 96% satisfaction with their services.
Findings released in a Worksite Medical Clinics report state that 37% of employers with 5,000+ employees offer on-site clinics, with 15% of employers of that size planning to open clinics by 2015. 15% of employers with 500 to 5,000 employees offer on-site clinics, with another 11 percent planning to add them by 2015. More than half of employees use the services in the first year and as high as 74% sign up within two years.
Crossover CEO, Dr. Scott Shreeve, founded the company to put an end to the staggering costs of health care and actually exceed patient expectations. “Traditional health has been about fixing problems as they arise. If we want to achieve true health and wellness, we have to view health as an on-going journey. It’s not about just coming in to see a doctor when you’re sick, it’s about having a trusted advisor to seek advice when you need it,” said Shreeve. “In focusing more on the relationships we build with both employers and employees, we’re able to see higher engagement and accountability into health, which helps to reduce costs because of the behavioral change geared towards overall healthier living.”
We are truly crossing over into a new model of health care—a model that pairs holistic health with meaningful employee engagement.To learn more, visit their site here.