Marpai adds industry-leading, doctor-led MSK
solution to its Value-Based Care Network for self-funded employer
health plans to lower costs and improve member health.
Marpai, Inc. ("Marpai" or the "Company") (Nasdaq: MRAI), an
AI-powered Third-Party Administrator (TPA) transforming self-funded
employer health plans, announces a relationship with Vori Health,
Inc. (“Vori Health”) to offer innovative musculoskeletal (MSK) care
to employer health plan members. Founded by two leading surgeons
from Yale University and the Mayo Clinic, Vori Health is an
award-winning, nationwide, specialty medical practice designed to
treat back, neck, and joint pain more effectively through
evidence-based, non-operative care.
This relationship comes at a critical time for employers. MSK
conditions not only top the causes of disability globally but also
comprise a significant amount of ballooning healthcare costs for
employers. Studies show this prevalence is further compounded by
high rates of inappropriate care. According to data from a study
published in the Harvard Business Review in June 2017, more than
half of high-volume spine surgeries recommended to an employee
population for low back pain were found to be unnecessary. As a
result, traditional MSK care not only costs employers, but can
cause harm to their employees and dependents.
Marpai adds Vori Health to its Value-Based Care Network of
proven Clinical Care Partners focused on preventing, mitigating,
and reversing prevalent, high-cost conditions within health plan
populations. Using proprietary AI-powered technology, Marpai
proactively identifies health plan members facing costly MSK
treatments or procedures, uses multi-channel marketing to drive
enrollment, nurtures participating members throughout the process
and delivers transparent, detailed reporting to employers. Vori
Health is incentivized to deliver outcomes for members, and
employers only pay for program participation by member.
Vori Health brings clinically appropriate care to members
through a nationwide hybrid network and convenient digital
platform. Without bouncing around the healthcare system, members
access end-to-end support and evidence-based care from Vori Health
providers. Vori Health’s physician-led teams collaboratively manage
all aspects of care including a comprehensive medical evaluation
and diagnosis, non-opioid prescriptions if needed, physical
therapy, and healthy lifestyle coaching. This holistic model, which
has been certified by the Validation Institute in January 2023 for
lower back pain care, reduces surgery, imaging, and injections
while also improving pain management.
“We are thrilled to offer Vori Health to address the high-cost
MSK conditions facing our clients and improve member health,” says
Edmundo Gonzalez, co-founder and Chief Executive Officer of Marpai.
“With Vori Health, members access care that can dramatically change
their health and even eliminate unnecessary procedures which saves
significant money for them and the health plan.”
This relationship also advances Marpai’s commitment to health
equity. Access to specialists has been increasingly difficult since
the pandemic, especially in low-income areas and rural communities.
By working with Vori Health, Marpai believes it will eliminate
geographic inequalities of care. “We’re unlocking access to top
specialists and evidence-based care that will help members get
better no matter where they live,” says Mr. Gonzalez.
“We’re excited to be working with forward-thinking,
technology-powered companies like Marpai,” says Ryan Grant, MD,
Vori Health’s co-founder and Chief Executive Officer. “Traditional
MSK care is broken and too many people suffer unnecessarily. With
Marpai, we believe that we can fix this by bringing our
evidence-based solution to people where they are, at the right
time, so employers can take better care of their teams and bottom
For more information, please visit www.MarpaiHealth.com,
www.Vorihealth.com or for investors
About Marpai, Inc. Marpai, Inc. (Nasdaq: MRAI) is an
AI-powered Third Party Administrator (TPA) delivering health plan
administration and services to employers that directly pay for
employee health benefits (self-funded employer health plans). As a
technology innovator in the $22 billion TPA sector representing
over $1 trillion in annual claims, Marpai includes services beyond
traditional TPA services that improve health plan value to members,
and significantly reduce medical and pharmaceutical costs for
members and the plan. By leveraging AI and big data, Marpai
proactively enables early clinical interventions by proven
value-based care providers that can mitigate and reverse costly
conditions and avoid costly care. Marpai also helps members fill
gaps in annual care and guides them to high-value in-network
providers and affordable pharmacy solutions. Operating nationwide,
Marpai offers access to provider networks including Aetna and Cigna
and delivers all standard TPA services.
For more information, visit www.marpaihealth.com or
https://ir.marpaihealth.com for investors.
About Vori Health Vori Health is a specialty medical
practice delivering a virtual-first musculoskeletal (MSK) solution
to help members get back to their lives faster. As the only
nationwide MSK practice with doctor-led care teams, Vori Health is
the most convenient way to access appropriate care for back, neck,
and joint pain without bouncing around the healthcare system.
Whether members need a diagnosis, non-opioid prescription,
personalized physical therapy, or health coaching, they can turn to
Vori Health for evidence-based care and effective end-to-end
support. This holistic model reduces unnecessary surgeries, enables
faster recoveries, and lowers MSK spend with up to a 4:1 ROI.
For more information visit www.vorihealth.com.
Forward-Looking Statement Disclaimer This press release
contains forward-looking statements, as that term is defined in the
Private Litigation Reform Act of 1995, that involve significant
risks and uncertainties, including statements regarding revenues,
employee lives and cash. Forward-looking statements can be
identified through the use of words such as "anticipates,"
"expects," "intends," "plans," "believes," "seeks," "estimates,"
"guidance," "may," "can," "could", "will", "potential", "should,"
"goal" and variations of these words or similar expressions. For
example, the Company is using forward looking statements when it
discusses the benefits and advantages of Vori Health, that this
relationship also advances Marpai’s commitment to healthy equity,
and its belief that working [A4] with Vori Health will eliminate
geographic inequalities of care . Readers are cautioned not to
place undue reliance on these forward-looking statements, which
reflect Marpai's current expectations and speak only as of the date
of this release. Actual results may differ materially from Marpai's
current expectations depending upon a number of factors. These
factors include, among others, adverse changes in general economic
and market conditions, competitive factors including but not
limited to pricing pressures and new product introductions,
uncertainty of customer acceptance of new product offerings, market
changes, and risks associated with managing the growth of the
business. Except as required by law, Marpai does not undertake any
responsibility to revise or update any forward-looking statements
whether as a result of new information, future events or otherwise.
More detailed information about Marpai and the risk factors that
may affect the realization of forward-looking statements is set
forth in Marpai's filings with the Securities and Exchange
Commission (SEC). Investors and security holders are urged to read
these documents free of charge on the SEC's web site at
SOURCE Marpai, Inc.
Released March 14, 2023
version on businesswire.com: https://www.businesswire.com/news/home/20230314005824/en/
Media Contact: Danielle Belding-Smith for Marpai
DBelding-Smith@marpaihealth.com (704) 562-8953
Investor Relations Contact: Simon Li
firstname.lastname@example.org (813) 822-3950
Vori Health Media Contact Carrie McCulloch, MD
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