NextHealth Technologies Announces $17M Growth Equity Investment to Continue Market Expansion


NextHealth Technologies Announces $17M Growth Equity Investment to Continue Market Expansion

FOR IMMEDIATE RELEASE

Denver, CO – Monday, March 4, 2019

NextHealth Technologies Inc., a leading AI-powered healthcare analytics platform, announced today it has completed a $17 million Series B funding round led by TT Capital Partners (“TTCP”), with participation from Blue Cross of Idaho and existing investors including Norwest Venture Partners. The investment will accelerate NextHealth’s market expansion and deliver innovative new product enhancements, leveraging new sources and uses of data to further personalize and support the interaction between healthcare entities and consumers while continuing to drive down healthcare costs and improve health outcomes.

With 45 million covered lives in the United States on its HITRUST-certified analytics platform, NextHealth optimizes value for its health plan customers by automating the previously manual process of identifying the most impactable populations, measuring which clinical initiatives work best for whom, and integrating data-driven decisions into workflow. By knowing what works and acting on the insights in near real time versus in months or years, NextHealth’s clients derive the highest ROI from their analytics investments.

“As health plans increasingly look for ways to add value for their members, they have realized that anticipating behavior and seeking to impact it in new and meaningful ways can have a powerful effect on both cost and outcomes,” said Ryan Engle, Partner at TTCP. “NextHealth is uniquely positioned to deliver an expanded and compelling solution, and we look forward to collaborating with its seasoned leadership team as the company continues to innovate.”

“Blue Cross of Idaho is committed to bring exceptional value to our members,” said Drew Hobby, Senior Vice President for Healthcare Economics. “NextHealth’s platform enhances our efforts to deliver the results of clinical programs and test new ideas to drive down the cost of care.”

“Making faster, data-informed decisions to continually optimize resources and engage members in effective care is the new competitive imperative for health plans,” said Casper de Clercq, General Partner at Norwest Venture Partners. “NextHealth’s advanced analytics platform offers a fast-track method for payers to assess and augment their considerable investments, optimize outcomes, and maximize their ROI.”

“With the annual healthcare big data analytics spend projected to surpass $22B by 2023, healthcare costs continuing to rise, and competitive pressures increasing, it has never been more important for health plans to know how to transform their clinical investments into proven business value,” said Eric Grossman, CEO of NextHealth. “NextHealth is thrilled to have this caliber of investors with such strong ties in the healthcare industry to help us expand our innovative solutions in the marketplace.”

About NextHealth Technologies

NextHealth Technologies, based in Denver, is an AI-powered analytics platform that rapidly optimizes the effectiveness of health plans’ cost, quality, and service enhancement initiatives resulting in significantly reduced costs and improved outcomes. Its cloud-based solution utilizes scientifically rigorous methodologies and standardized processes, enabling and promoting a culture of measurement. The platform is HITRUST-certified, scalable, and is deployed with expert services to ensure client adoption and success. Know what worksand make it better. For more information, visit https://nexthealthtechnologies.com. Follow NHT on Twitter @nexthealthtech.

About TT Capital Partners
TT Capital Partners (TTCP) is a healthcare principal investor, collaborating with healthcare technology and services companies that have the potential to become market leaders. Leveraging the insights garnered from a unique knowledge-based platform, TTCP has invested in some of the most innovative, high-growth businesses in healthcare. TTCP is part of an independent healthcare merchant bank. For more, visit TTCapitalPartners.com.

About Norwest Venture Partners

Norwest is a premier multi-stage investment firm managing more than $7.5 billion in capital. Since our inception, we have invested in more than 600 companies and partner with over 140 active companies across our venture and growth equity portfolio. The firm invests in early to late stage companies across a wide range of sectors with a focus on consumer, enterprise, and healthcare. We offer a deep network of connections, operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses. Norwest has offices in Palo Alto and San Francisco, with subsidiaries in India and Israel. For more information, please visit www.nvp.com. Follow Norwest on Twitter @NorwestVP.

 

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For media inquiries:

NextHealth Technologies
Melissa O’Connor
Senior Vice President of Marketing and Communications
[email protected]


Sales Development Representative (Contract)

Careers

Job Title:

Sales Development Representative (Contract)

CAREERS

Description

This is a contract role and not permanent employment. Identify ideal buyers through research, email and phone calls. Learn about the needs, priorities and goals of target prospects through account- and contact-specific research. Map decision-makers at key accounts based on people’s roles and information available in public and third-party information sources.

Identify and move leads through the pipeline. Collaborate with marketing and sales to develop lead lists. Manage outbound calls, emails and digital engagement with prospects in order to qualify contacts for the sales team. Book appointments for sales with prospects. Communicate and document results of your outreach.

Our mission is to empower health plans to deliver better services for consumers. We are interested in people who support that mission and enjoy building great relationships with potential buyers.  If this is you, we’d love to welcome you to a team that is invested in developing your talent.

Responsibilities

  • Generate quality meetings with C-suite executives, VPs and Directors in top healthcare plans.
  • Engage key contacts via calls, social media, email, meetings and events.
  • Research target contacts and organizations to map their goals and outcomes.
  • Convey compelling value to prospects.
  • Document prospect data in our sales lead management system.
  • Track and report calls and outreach.
  • Provide daily and weekly progress reports for sales team and account owners.

Qualifications

  • Comfortable calling prospects to find key decision makers and set appointments.
  • Strong communication skills (listening, verbal, written, phone and internet research).
  • People skills and great attitude towards prospects and their organizations.
  • Able to learn and use sales and marketing software applications with training.
  • Proven ability to prioritize tasks to achieve goals.
  • Self-starter, ability to learn, results-oriented and persuasive.
  • Ability to work well with others in a team environment.
  • Interest or education in health and wellness is a strong plus.
  • No prior experience required. Some experience in marketing, sales or customer service in a business-to-business environment is a strong plus.
  • Career path to more advanced marketing or sales roles.
  • Recent college grads are welcome.

Benefits:

  • Exciting startup with a compelling mission to improve healthcare with better programs that lower the cost of care.
  • Competitive base hourly wage (depending on experience) and generous bonus program.
  • You can realistically earn $300- $500/week in bonuses.
  • Career advancement potential – we like to grow talent.


Customer Analytics Lead

Careers

Job Title:

Customer Analytics Lead

CAREERS

Description

As a Customer Analytics Lead with NextHealth Technologies, you will be the face of the company to a portfolio of clients.   You will be an expert user of the NextHealth platform, both of its interface and the analytic methods and tools powering it.  You will lead implementation and ongoing delivery to your clients, driving external adoption of the platform and ensuring high client satisfaction and value.

Responsibilities

  • Serve as the operational lead on a small portfolio of accounts with accountability for setting and achieving semi-annual delivery goals for each engagement that drive widespread adoption of the NHT platform and maximize client value
  • Partner with your clients to design scientifically sound healthcare intervention programs and configure them on the NextHealth platform while training clients to do so independently
  • Interpret and present program findings with impactful recommendations that influence your clients’ decision-making processes
  • Champion your customers’ product feedback internally to help steer our development efforts and advance our solution
  • Become a trusted advisor to clients, fostering strong relationships across all levels of the client organization
  • Facilitate cross-functional internal account team meetings to ensure on-time delivery and account growth
  • Support and occasionally lead cross-customer projects owned by the Client Services team to advance our implementation and delivery methodologies

Qualifications

  • Bachelor’s degree – major in Computer Science, Operations Research, Statistics, Mathematics, Data Science, or related field preferred.
  • Minimum of six (6) years of experience in client delivery, management consulting, or other relevant field, including a minimum of four (4) years in healthcare
  • Knowledge of and experience with statistical methods and other advanced analytic techniques
  • Ability to foster strong client relationships at an executive level
  • High comfort level managing cross-functional teams
  • Proven ability to thrive in fast-paced, entrepreneurial environments, including an ability to drive results amid change and ambiguity
  • Exceptional written and verbal communication skills – ability to translate complex technical concepts for broad business audiences
  • Extensive use of Microsoft Office, SharePoint, PowerPoint, Visio and other project planning and/or collaboration tools
  • Willingness to travel (up to 30%)


Office Administrator & Manager

Careers

Job Title:

Office Administrator & Manager

CAREERS

Description

The Office Administrator & Manager provides overall operational support for the company in various administrative and facility related duties to maintain an efficient and well-run office environment. This person has a very welcoming disposition and a winning attitude. They will be engaging and supportive with all internal team members, office guests, and external vendors. The Office Administrator & Manager is strong at working independently and is highly adaptable in an extremely fast-paced and quickly growing company.

Responsibilities

Administrative

  • Greet office guests in a courteous and professional manner
  • Assist the CEO in managing his calendar, some travel, and other logistics
  • Schedule meetings with clients and prospects at the direction of the CEO and Marketing / Sales Departments
  • Coordinate event RSVPs, attendance lists, follow ups and thank you gifts / notes
  • Research, book and manage meeting locations such as restaurants and hotel conference rooms for events
  • Coordinate and execute logistics around NextHealth sponsored events including travel, agendas, and supplies

Culture

  • Promote a fun office culture by planning company social events, townhalls, etc.
  • Support onboarding new hires and contractors
  • Coordinate updates to branded artwork and office optics for the reception and open office areas per the direction of the CEO, HR, and Marketing Department
  • Office
    • Proactively walk around the office and ensure the office space and kitchen is clean, well-organized, and stocked
    • Work with the building management with any facilities related inquiries and requests
    • Track office expenses, analyze operational costs, and provide new recommendations
    • Audit company vendor invoices and negotiate pricing and service contracts
    • Manage office supply inventory and responsible for all ordering including food and catering, IT, supplies, etc.
    • Schedule and coordinate project meetings and communications on operational activities
    • Handle mail, Fed Ex requests, and deliveries
    • Other projects as needed

Marketing

  • Provide marketing materials to the Services team for new customer kick-off meetings
  • Manage marketing supplies in the lobby and for sales meetings and events
  • Order printed copies of marketing content including brochures, posters and other materials per the direction of the Marketing Department
  • Use project planning applications to aid Marketing leader in managing activity and publishing plans
  • Communicate effectively with CEO, Marketing and Sales on progress and schedules

Competency

  • Excellent communication, organization, and planning skills
  • Must be incredibly meticulous and well organized
  • Ultimate team player
  • Can proactively anticipate organizational needs and recommend solutions
  • Thrives in a start-up culture and knows how to work independently and get results quickly

Qualifications

  • BA/BS degree
  • 3+ years of experience in an Office Manager or Administrative role
  • 1+ years of facilities management experience with building managers and 3rd party companies
  • Proficient with Microsoft Office


NextHealth Hosts Executive Advisory Council to Explore Ways to Improve Health Outcomes While Reducing Costs

 

NextHealth Hosts Executive Advisory Council to Explore Methods for Improving Health Outcomes While Reducing Costs Through Advanced Analytics

Creating Sustainable Competitive Advantage in Healthcare through Insights-Driven Decisions

FOR IMMEDIATE RELEASE

Denver, CO – Monday, September 24, 2018. NextHealth Technologies, which helps healthcare organizations know what works to drive faster and better business decisions, reduced costs, and improved outcomes, today announced that its Fall Executive Advisory Council meeting is being held in Chicago, Illinois at Microsoft’s Technology Center September 24-25, 2018.

Leaders from national, regional, and blues health plans as well as regional hospitals will convene to discuss the value of advanced analytics in driving outcomes and reducing medical spend. They will also review and evaluate best practices for addressing cultural change and adoption of advanced analytics in healthcare.

During the previous meeting, executives from 10 leading health insurers representing over 25% of the insured U.S. population identified key priorities including:

  • Measurement and optimization through advanced analytics is important and budgeted for by the attending health plan executives.
    • Respondents allocated an average of 33% of their analytic budgets to measurement and optimization, followed by predictive modeling (28%) and provider analytics (21%).
  • Siloed technologies, inconsistent methodologies, and processes are hindering development of scalable program evaluation in health plans.
    • Respondents indicated that workflow-integrated platforms that leverage diverse, clean data and advanced algorithms are needed to make decisions faster, cheaper and more effectively.

In this Council session, attendees plan to address how to practically transform healthcare organizations to keep up with the pace of change and possibilities that empowered consumers, big data and advanced technologies bring.

“Our Executive Advisory Council was created to bring together future-focused industry leaders who are committed to addressing complex healthcare challenges,” said Eric Grossman, CEO of NextHealth Technologies. “Everyone agrees that we need to make better decisions faster. This group of leaders is at the forefront of defining how we do that effectively.”

The NextHealth Executive Advisory Council is an invitation-only think tank that brings together healthcare thought leaders to determine how advanced analytics can improve outcomes, enhance program effectiveness, and deliver transformative cost savings. For more information regarding the Council and the 2018 survey on Creating Sustainable Competitive Advantage in Healthcare Through Measurement and Optimization, visit https://nexthealthtechnologies.com/advisors/know-what-works-to-control-healthcare-costs/

About NextHealth Technologies 

Go beyond insights to Know What Works™. NextHealth’s analytics platform measures and optimizes health plans’ clinical and consumer program spend to drive faster and better business decisions, reduced costs, and improved outcomes. Our intuitive and automated SaaS solution utilizes scientifically rigorous methodologies and standardized processes, enabling a culture of measurement. NextHealth’s platform scales to improve any existing program and is deployed with expert services to develop and optimize new programs such as ER reduction, closure of gaps in care, chronic disease state management and more. NextHealth’s platform currently serves over 25 million members for enterprise healthcare clients. For more information, visit nexthealthtechnologies.com or follow NextHealth on Twitter @nexthealthtech

 

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For media inquiries:

NextHealth Technologies
Christine Viera
Vice President of Marketing
[email protected]
720-575-6494


Sonu Kansal

Sonu Kansal, Chief Product Officer

As Chief Product Officer at NextHealth, Sonu oversees product, engineering and analytics. Sonu offers 20 years of experience building software for some of the largest global industries.

Prior to NextHealth, Sonu served as Vice President of Products and Engineering at Google and Yahoo! At Yahoo!, Sonu led product management and engineering teams for some of the largest data initiatives used within Yahoo!’s media brands. These brands included Yahoo Health and Lifestyles, Yahoo News, Yahoo Finance, and the Yahoo Contributor Network, an evolution of Associated Content, an online media company.

Kansal began his career as a senior platform engineer at Sony before joining SonicNet which was shortly thereafter acquired by Viacom’s MTV Interactive Networks, where he served as the Director and VP of Technology.

Education:
Kansal holds a Masters of Sciences in Management and a Bachelors of Sciences in Information Technology from the Colorado State University where he graduated summa cum laude.

EXECUTIVE LEADERSHIP

Blue Cross of Idaho and NextHealth Technologies Sign Healthcare Analytics Agreement


FOR IMMEDIATE RELEASE

Blue Cross of Idaho and NextHealth Technologies Sign Agreement That Puts Advanced Analytics to Work in Improving Healthcare Value

Machine learning cloud platform expected to accelerate opportunities to improve the total cost of care for Blue Cross of Idaho customers

 

MERIDIAN, ID and DENVER, CO — Monday, September 17, 2018 — Blue Cross of Idaho, the largest health insurer in Idaho, and NextHealth Technologies, a cloud-based healthcare analytics company, announced they have entered into a multi-year platform agreement to measure and optimize clinical programs across Blue Cross of Idaho’s membership to improve outcomes and lower costs.

“Blue Cross of Idaho is dedicated to building a healthier Idaho,” said Dave Jeppesen, Executive Vice President and Chief Strategy and Innovation Officer for Blue Cross of Idaho. “We’re using data to discover what can save our members money and drive down the overall cost of healthcare. Our partnership with NextHealth Technologies will help us create better cost-savings strategies for the future.”

The NextHealth Platform will allow Blue Cross of Idaho to quickly and scientifically improve the impact of clinical and case management programs. It will also support the talented Blue Cross of Idaho team by empowering their culture of measurement, driving smarter decisions and better outcomes through machine learning and advanced analytics.

“NextHealth’s platform allows our team to quickly see the results of clinical programs, which will allow our employees to rapidly test new ideas and bring a better value to our members,” said Jeppesen.

Eric Grossman, CEO of NextHealth Technologies, added, “NextHealth is honored to support Blue Cross of Idaho’s strong commitment to data-driven decisions, and focus on industry-leading cost containment initiatives. We look forward to supporting their vision, cost saving innovations, and impact on the lives of their members.”

# # #

 

About Blue Cross of Idaho

Blue Cross of Idaho, a not-for-profit mutual insurance company based in Meridian, Idaho, is a leader in delivering innovative health insurance products, services and information to more than 542,000 members. For 73 years, the company has advocated on behalf of its members to ensure they have access to high-quality healthcare at the lowest possible cost. It also serves the people of Idaho through support of community organizations, programs and events that promote good health. Blue Cross of Idaho is an independent licensee of the Blue Cross and Blue Shield Association. For more information, visit bcidaho.com.

 

About NextHealth Technologies

Go beyond insights to Know What Works™. NextHealth’s analytics platform measures and optimizes health plans’ clinical and consumer program spend to drive faster and better business decisions, reduced costs, and improved outcomes. Our intuitive and automated SaaS solution utilizes scientifically rigorous methodologies and standardized processes, enabling a culture of measurement. NextHealth’s platform scales to improve any existing program and is deployed with expert services to develop and optimize new programs such as ER reduction, closure of gaps in care, chronic disease state management and more. NextHealth’s platform currently serves over 25 million members for enterprise healthcare clients. For more information, visit nexthealthtechnologies.com or follow NextHealth on Twitter @nexthealthtech

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For media inquiries:

Blue Cross of Idaho
Bret Rumbeck
Public Affairs
[email protected]
members.bcidaho.com
208-387-6921

NextHealth Technologies
Christine Viera
Vice President of Marketing
[email protected]
720-575-6494


Podcast | Finding Answers to Real-World Healthcare Questions Faster with Dr. Scott Halpern

Finding Answers to Real-World Healthcare Questions Faster with Pragmatic Research

A Conversation with Dr. Scott Halpern, Professor of Medicine, Epidemiology, and Medical Ethics and Health Policy at the University of Pennsylvania

In this episode, Eric Grossman, CEO of NextHealth, and Dr. Scott Halpern discuss how healthcare is changing so that we know what works faster. Insurers and employers want answers to real-world questions. Pragmatic Randomized Trials and other modern research approaches can deliver them with in a much shorter time period than in the past.

For an executive summary of key topics, please read the companion blog located here.

Note: The views and opinions expressed by guests of the Analytics & Outcomes Podcast series do not necessarily reflect the policies or positions of NextHealth Technologies.


NextHealth Technologies Named in Three of Gartner’s 2018 Hype Cycle Reports

nexthealth_technologies_logo_clearspace 300


NextHealth Technologies Named in Three of Gartner’s 2018 Hype Cycle Reports

FOR IMMEDIATE RELEASE

DENVER, CO, August 16, 2018 – NextHealth Technologies, which measures and optimizes health plans’ clinical and consumer program spend to drive improved outcomes, today announced that it was named for the third year in a row as a sample vendor in three separate Gartner Hype Cycle reports: “Hype Cycle for U.S. Healthcare Payers, 2018”1 (for Healthcare Consumer Insight as a Service and Retail Analytics for Healthcare Payers ); “Hype Cycle for Healthcare Providers, 2018”2 (for Healthcare Consumer Persuasion Analytics); and “Hype Cycle for Consumer Engagement With Health and Wellness, 2018”3 (for Healthcare Consumer Insight as a Service and Healthcare Consumer Persuasion Analytics).

According to analyst Jeff Cribbs in the “Hype Cycle for U.S. Healthcare Payers, 2018”1, “Healthcare CIOs, IT leaders and analytics leaders should consider HCIaaS an emerging, and potentially crucial, component in developing their enterprise analytics strategy.”

Analyst Mark Gilbert shares, in the “Hype Cycle for Consumer Engagement With Health and Wellness, 20183”, that “HDOs and public health agencies will have to become at least as sophisticated as other consumer/retail industries in analyzing a variety of data that helps uncover root causes of human behavior. The ability to influence behavior will be the key to transformative long-term management of cost and quality outcomes.”

“Healthcare expenditure costs were at $3 trillion in 2016 and rising. That’s 17.9% of GDP. And it’s why our industry must harness the power of analytics to better engage consumers and contain skyrocketing healthcare costs. Health plan executives tell us that advanced analytics is the key to improving member experience. By knowing what works, they can decide what works or doesn’t faster, and predict optimal ways to reach and persuade consumers to change while lowering costs,” said Eric Grossman, CEO of NextHealth. “We’re very honored that Gartner has again named our company’s platform in multiple Hype Cycle reports.”

[1]  Gartner “Hype Cycle for U.S. Healthcare Payers, 2018” by Brad Holmes, Mandi Bishop, Jeff Cribbs, July 18, 2018.

[2] Gartner “Hype Cycle for Healthcare Providers, 2018” by Laura Craft, Mike Jones, July 18, 2018.

[3] Gartner “Hype Cycle for Consumer Engagement With Healthcare and Wellness, 2018” by Jeff Cribbs, Mark E. Gilbert July 20, 2018.

Disclaimer:

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About NextHealth Technologies

Go beyond insights to Know What Works™. NextHealth’s analytics platform measures and optimizes health plans’ clinical and consumer program spend to drive faster and better business decisions, reduced costs, and improved outcomes. Our intuitive and automated SaaS solution utilizes scientifically rigorous methodologies and standardized processes, enabling a culture of measurement. NextHealth’s platform scales to improve any existing program and is deployed with expert services to develop and optimize new programs such as ER reduction, closure of gaps in care, chronic disease state management and more. NextHealth’s NextNudge™ platform currently serves over 25 million members for enterprise healthcare clients. For more information, visit nexthealthtechnologies.com.

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For media inquiries:

NextHealth Technologies
Christine Viera
Vice President, Marketing
[email protected]