HealthJoy

HealthJoy

Digital platform for virtual healthcare services

About HealthJoy

Simplify's Rating
Why HealthJoy is rated
B+
Rated B on Competitive Edge
Rated A on Growth Potential
Rated B on Rating Differentiation

Industries

Healthcare

Company Size

201-500

Company Stage

Series D

Total Funding

$105.5M

Headquarters

Chicago, Illinois

Founded

2014

Overview

HealthJoy offers a digital healthcare platform that connects employees to various virtual healthcare services through a mobile app, available 24/7. This app allows for seamless access to healthcare support without being tied to a specific medical plan, making it adaptable to different benefits packages. HealthJoy aims to reduce healthcare costs and simplify decision-making for employees, which also saves time for HR departments. The goal is to enhance the healthcare experience for businesses and their employees while improving outcomes.

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Simplify's Take

What believers are saying

  • HealthJoy's partnership with Springbuk enhances personalized care recommendations.
  • The platform's AI technology improves healthcare navigation and cost savings.
  • HealthJoy's virtual primary care expansion strengthens its market position.

What critics are saying

  • Increased AI regulation may impact HealthJoy's service delivery.
  • Competition in virtual care could affect HealthJoy's market share.
  • Data privacy concerns arise from integration with health intelligence platforms.

What makes HealthJoy unique

  • HealthJoy offers a personalized digital benefits wallet for employees.
  • The platform integrates existing benefits for a seamless user experience.
  • HealthJoy provides 24/7 live support and virtual healthcare services.

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Funding

Total Funding

$105.5M

Below

Industry Average

Funded Over

5 Rounds

Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.
Series D Funding Comparison
Below Average

Industry standards

$77M
$60M
HealthJoy
$70M
Twilio
$80M
Handshake
$100M
Affirm

Benefits

Health Insurance

Dental Insurance

Vision Insurance

401(k) Company Match

401(k) Retirement Plan

Paid Parental Leave

Short Term Disability Insurance

Long Term Disability Insurance

Flexible Paid Time Off

HSA contribution match

Stock Options

Growth & Insights and Company News

Headcount

6 month growth

2%

1 year growth

1%

2 year growth

1%
PharmiWeb
May 16th, 2024
Healthjoy Leader Authors First-Of-Its-Kind Book On Brain-Body Connection

HealthJoy's Brian Astrachan Publishes 'Chronic Lower Back Pain Relief Through The Brain-Body Sync'CHICAGO, IL / ACCESSWIRE / May 16, 2024 / HealthJoy, a care navigation platform that transforms healthcare outcomes, announced today that Brian Astrachan, General Manager, MSK at HealthJoy, recently published his first book, "Chronic Lower Back Pain Relief Through The Brain-Body Sync."The publication is the first of its kind to outline the brain-based cause of low back pain and provide a proven exercise approach to resolve it."Hundreds of millions of people around the world experience low back pain, yet up to 90% of those cases are diagnosed as non-specific low back pain, which means there is no clear cause for the pain," said Astrachan. "Drawing on decades of research and work with thousands of chronic pain sufferers, the conclusion is that most of these cases should be termed brain-based low back pain. The issues are not in the body but in the brain."By sharing these concepts and exercises in his new book, Astrachan hopes to elevate how chronic pain is addressed and help individuals suffering from chronic pain achieve better health outcomes.Astrachan oversees all aspects of HealthJoy's virtual programs for back, joint and pelvic health. HealthJoy's coach-led, virtual exercise therapy program is accessible to hundreds of thousands of people across the United States.Due to its combination of proprietary neurological exercises, high-skilled coaching team and eliminating devices and equipment as barriers to exercise, HealthJoy's chronic pain participants have reported an industry-leading 82% pain reduction and 88 Net Promoter Score.With over $100 million in fundraising to date, HealthJoy gives HR leaders and benefit consultants the platform needed to contain costs and transform healthcare outcomes by guiding employees to affordable, high-quality care. To do this, HealthJoy adapts to employee wants and needs, bundles an unbundled benefits strategy and confronts long-term healthcare spend.The company provides in-depth care navigation to over 1,500 U.S. employers, supporting the management and delivery of world-class benefits to more than a million employees and dependents.Prior to joining HealthJoy, Astrachan co-founded Rekinetics, LLC, where he led the development of the only MSK program applying neuroscience to exercise therapy

Coverage
Mar 20th, 2024
Healthjoy Selects Edh As Surgery Network Partner

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PharmiWeb
Mar 5th, 2024
Healthjoy Releases Insights From 2024 Member Health Goals Report

Sixty Percent of Surveyed Members Identified They Are Managing an Ongoing Health ConditionCHICAGO, IL / ACCESSWIRE / March 5, 2024 / HealthJoy, a care navigation platform that transforms healthcare outcomes, today announced the release of its second annual "HealthJoy Insights: Member Health Goals'' report.Sixty percent of surveyed members identified they are managing an ongoing health condition, and 21.6% indicated they'd like help finding a specialist. Additionally, a third of respondents indicated a goal to complete an annual physical - which can be key for preventive care, condition management, screenings and immunizations.Over 96% of members who activated HealthJoy in 2023 provided at least one goal via HealthJoy's Member Health Goals questionnaire, totaling more than 85,700 member responses. HealthJoy leverages this data, along with pre-certification and claims data, to help employees achieve their unique health goals and keep employees engaged in their health.By adapting to employees' unique wants and needs, HealthJoy drives a 2-3x increase in point solution utilization leading to significant cost savings and healthier outcomes."Health Goals data allows us to understand what employees care about," said Justin Holland, CEO and co-founder of HealthJoy. "We capture goals and preferences to keep employees actively engaged in their health. By listening to our members' goals and preferences, we provide them with a world-class experience built just for them."Other findings from this year's report include:As Rx costs continue to rise, nearly half of respondents are paying for a prescription drug. A major emerging trend is the rise of GLP-1 drugs for weight loss

Chronicle-Tribune
Jan 16th, 2024
HealthJoy Partners With Springbuk in Innovative New Health Intelligence Marketplace for Employers and Benefits Advisors

HealthJoy partners with Springbuk in innovative new health intelligence marketplace for employers and benefits advisors.

PharmiWeb
Jan 16th, 2024
Healthjoy Partners With Springbuk In Innovative New Health Intelligence Marketplace For Employers And Benefits Advisors

CHICAGO, IL / ACCESSWIRE / January 16, 2024 / HealthJoy, a care navigation platform that transforms healthcare outcomes, today announced a new partnership with Springbuk, the leading health intelligence platform for employers and benefits advisors.Integrating HealthJoy in the Springbuk Activate partner marketplace will enhance healthcare outcomes through data-driven insights and personalized care.The Springbuk Activate marketplace matches employers with possible partners based on their population's health needs or risks, showing them potential opportunities in savings and program engagement - all in one place."We are thrilled to embark on this new partnership with Springbuk," said Doug Morse-Schindler, President and co-founder of HealthJoy. "Together, we will transform healthcare outcomes by guiding employees to affordable, high-quality care options and helping employers contain costs."HealthJoy worked with Springbuk to develop a customized recommendation within the Springbuk application that identifies the number of members in the employer's population who may qualify for HealthJoy's program and a 12-month savings opportunity estimate based on assumptions of program success."Our partnership with HealthJoy empowers us to proactively identify and engage high-cost claimants, directing them towards affordable and quality care options," said Joy Powell, CEO of Springbuk. "HealthJoy's platform aligns seamlessly with our vision to improve health outcomes while maintaining fiscal responsibility."For more information about Springbuk Activate, visit www.springbuk.com/activate.###ABOUT HEALTHJOYHealthJoy is a benefits navigation platform that helps more than 1,000 employers and their partners bring benefits strategies to life. The platform transforms healthcare outcomes by making it simple for employees to choose the highest-quality, most cost-effective care. This results in healthier employees and a healthier bottom line. To learn more, visit healthjoy.com.ABOUT SPRINGBUKSpringbuk is a leading-edge health analytics intelligence platform that empowers employers and consultants to sharpen their benefits strategy, advance employee health, and contain costs

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