Company Performance Metrics
Cameron Barrie: Chief Technology Officer
We provide insurers, their health providers and customers a health platform to optimise rehabilitation from injury, assist in the prevention of injury and chronic disease comorbidities such as arthritis, diabetes, heart disease and mental health disorders, and facilitate the ongoing self management of health.
Problem:
Delayed intervention,
suboptimal healthcare, lack of trusted information, and adverse lifestyle factors are key reasons why patients have ongoing musculoskeletal conditions (e.g. neck and low back pain) and develop chronic diseases. 83% of health insurer outgoings are spent on claims, making them reliant on customers achieving timely recovery from ill health and maintenance of good health in order to remain financially viable. The insurer currently has limited ability to influence this as they are disconnected from their customers.
Solution:
TrackActive will provide an exercise rehabilitation, early intervention, and prevention application, incorporating wearable technology and behavioural science, to address the needs of customers with, or at risk of, musculoskeletal conditions and chronic diseases. This will decrease reliance on health providers and reduce claims costs. It will compliment the existing TrackActive rehabilitation platform to be a complete self management solution for the customer. TrackActive may also improve satisfaction and retention of customers with their insurer.
Traction:
The TrackActive rehabilitation platform was developed and launched in March 2015. An Australian Government grant, 26 000 patients across 11 countries, 70 data parameters, a content licencing partnership with Johnson & Johnson, and early relationships with insurers highlights the ability of TrackActive to deliver effective digital healthcare solutions.
Competitive Advantage:
TrackActive has acquired unique knowledge through extensive exercise research reviews and intelligence from two years of data collection to expand its offering to ‘self service’ early intervention and prevention solutions for insurance customers. Additionally, as rehabilitation can act as a trigger to lifestyle change and ongoing wellness in patients, TrackActive is well positioned to own this customer experience due to the traction achieved with its existing rehabilitation platform.
Revenue Model:
TrackActive will charge a fee to insurers based on the number of active customers using the application and access levels to data insights. TrackActive also currently receives subscription revenue from health clinics using the rehabilitation platform, as well as content licencing fees with third party, non-competing organisations.
