Monday, October 16, 2023
FINEOS, a leading provider of modern enterprise core software for the life, accident, and health insurance sector, has entered into a strategic partnership with Osara Health, a digital health platform founded by experienced oncologists. This collaboration aims to enhance the overall care experience for individuals navigating the challenges of cancer.
The partnership will enable the seamless integration of additional services for cancer patients and their caregivers into the offerings of insurance carriers using the FINEOS Platform. FINEOS specializes in serving the diverse needs of the insurance industry, including group, voluntary, individual, and absence coverage.
Osara Health's Cancer Coach program has demonstrated significant success, as seen in a recent study conducted in Australia. This program showed a remarkable 73% improvement in overall return-to-work rates, coupled with a 16.5-week reduction in the average time it takes for individuals to return to work after a cancer diagnosis. Osara Health plans to replicate this study in the U.S. market in the coming months. Additionally, the program has been effective in providing pain relief, reducing fatigue, improving emotional well-being, enhancing mental health, and contributing to an overall improvement in the quality of life for cancer patients.
Participation in the program is initiated through physician diagnosis codes related to cancer and critical illness coverage. The services are tailored to meet individual needs and are delivered digitally. Moreover, a newly introduced Cancer Caregivers program extends support to caregivers, enabling them to maintain employment and productivity. FINEOS and Osara Health anticipate that their integration will boost the utilization rates for voluntary critical illness products and supplemental insurance offerings such as short-term disability (STD). This will be made possible through the automation capabilities of FINEOS Claims.
These programs are made available through insurers as part of their product portfolio, as well as directly through employers where applicable. The collaboration aims to address the challenge of swiftly enrolling eligible members in these programs while streamlining administrative procedures. Many insurance partners believe that such integrations will lead to a more efficient administrative experience for their claims teams.
Source: businesswire.com
