Empatha is a company with a unique whole-person behavioral program for individuals delayed in recovery due to pain or mental health conditions, while optimizing health and financial outcomes for the employer and insurance-based disability market. Our evidence-based assessment and rehabilitation solutions are designed for individuals delayed in recovery with conditions that include pain, mental health, pain-related opioid dependency, catastrophic injury, post-concussion, PTSD and more. We identify the delay in recovery patient or problem case early and execute targeted services to ameliorate the negative and costly consequences of needless occupational and non-occupational disability.
Problem
Both work and non-work-related disability are on the rise reaching near epidemic proportions in the U.S. Work related disability includes insurance claims in the state and federal workers’ compensation systems and non-work disability includes insurance claims seen with employer covered short-term and long-term disability insurance. Despite that claim’s prevalence has not increased in recent years, the complexity and cost of each claim is on the rise. Research over the past two decades has revealed two areas contributing to rising claims costs; psychosocial variables (nonmedical issues) and chronic pain related opioid dependency. This population has been described as the delayed recovery population.
Psychosocial variables serve as one of the most significant obstacles to achieving suitable and gainful employment. Individuals with a psychosocial risk profile benefit less from traditional approaches to medical management and are less likely to return to work within established evidence-based time frames. This delayed recovery work disabled subgroup (20-25%), drive most of the costs experienced by employers, insurance carriers and other agencies. These claims stakeholders commonly see 75% of the spend arising from this ‘high risk’ group which includes medical costs and disability payments. Opioid dependency due to chronic pain is also reaching epidemic proportions and insurance payers are seeking solutions to withdrawal individuals from costly prescription medications. The CDC reports that 24,000 individuals are dying each year due to opioids. Current vendors and medical solutions make the fatal assumption that all patients/claims are the same with no attention to matching the case to the most effective treatment programs.
Empatha’s Scalable Solution
Empatha has the most empirically supported standardized biopsychosocial assessments and interventions for targeting delayed recovery. The biopsychosocial model of medical diagnosis and care focuses on not just the biology (injury/illness and associated pathology) but also on the individual as a whole person, including psychological (behavioral/cognitive) and social aspects (work/family). We have developed a proprietary risk assessment and treatment process with a niche care network of rehabilitation and medical providers across the U.S. Through our technology assessment and telemedicine systems we are able to connect with clients anywhere in the U.S.
Business Model
Through AI identification or claim/case management, cases may be referred to Empatha at various entry points depending on the employer/insurance stakeholder. Empatha assesses the referred employee/claimant with providers in their geographic place of residence or through telemedicine. The services are billed by Empatha to the insurance payor and payment is issued to the contracted provider.
Traction
Empatha started development in September 2017 and first customers include Starbucks, Accident Fund, Paradigm, Kaiser Permanente, Whole Foods, OneCall, Summit Holdings, The Zenith, and The Travelers.
Financials
To date, we have generated $5.3M in revenue. Our year five revenue projection is $159,000,000 and year five EBITDA is $72,714,613.
Capital Raise
Seed investment of $5M convertible debt backed up/securitized by 20% of the outstanding units. Use of funds includes AI and technology development, provider/client App, Patent and IP Protection, sales and operations staff. Minimum investment 125K.
In exchange for that investment, we are offering 20,000 units of Empatha which represent 20% of the company. This results in a post-money valuation of $25,000,000.
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