Having already set the industry standard with engagement-based billing, ensuring that clients would only pay if members engaged with their programs, Sword is further innovating its model by aligning payments with clinical outcomes
New York, Sept. 10, 2024 (GLOBE NEWSWIRE) — Sword Health, the pioneer of AI Care, making world-class, life-changing care accessible anytime, anywhere, announced the launch of a new pricing model – Outcome Pricing. Sword first led the industry with engagement-based billing, where clients only paid when members actively participated in the program. Unlike other companies in the space that charge a full fee for their services, even if individual members don’t see an improvement, Sword is further aligning incentives with its clients and members — what clients pay will be directly determined by the effectiveness of Sword programs in helping improve the health of their people.
Sword’s AI Care model represents a generational shift in care delivery, seamlessly blending clinical excellence with cutting-edge artificial intelligence. AI Care pairs cutting-edge technology with human clinical expertise to deliver unmatched results. With the new pricing model, Sword ensures client fees are directly tied to whether their population achieves meaningful progress. This model guarantees that clients pay for tangible, positive results, making it an invaluable solution for employers seeking to enhance employee well-being while maximizing their healthcare investment.
“Since the day we founded Sword, we’ve been on a mission to free the world from pain, which includes disrupting healthcare’s existing archaic business models and delivering value beyond what was once thought possible,” says Virgílio Bento, founder and CEO of Sword Health. “Our new pricing model demonstrates the tangible benefits of AI in healthcare. By leveraging AI to enhance our care delivery efficiency while maintaining high-quality standards, we’re taking the bold step of directly tying our fees to measurable, clinically significant improvements in health outcomes. This new model further reinforces our belief in AI’s power to transform care delivery and unlock new business models that better align providers and members. All this is done the Sword way—without taking shortcuts and always abiding by the most rigorous regulatory and safety standards.”
With Outcome Pricing, Sword charges an initial fee after a member’s first session. This fee covers the cost of its purpose-built devices, which are sent to each member, as well as the work of a dedicated specialist to build a personalized program. The remaining balance is paid only if and when the member achieves a successful clinical outcome and experiences significant improvement, whether they require nine or 99 therapeutic sessions.
This evolution furthers Sword’s momentum in the market after the announcement of an independent study that confirmed Sword delivers the highest validated ROI, saving $3 in medical spend for every $1 spent on Sword.* The company also recently introduced Phoenix, the world’s first AI Care Specialist, the only AI solution enabling independent and clinical-grade care delivery to patients anytime, anywhere. As the leader in using AI to deliver care, Sword Health has delivered more than four million AI sessions and is accessible to over 3,000 employers across three continents.
To learn more about Outcome Pricing, please visit https://swordhealth.com/newsroom/outcome-pricing.
About Sword Health
As the pioneer in AI Care, Sword Health makes world-class care available anytime, anywhere, by combining human clinicians and AI. Starting with physical pain, then pelvic health, and now a full platform of solutions, Sword is available through more than 3,000 employers, health plans, and public sector organizations, saving those clients an average of $3 in healthcare costs for every $1 invested in Sword. To date, the company has saved its clients nearly $600 million in unnecessary healthcare costs. With a mission to free two billion people from pain, the company has raised more than $300 million from leading venture firms, including Khosla Ventures and General Catalyst. It was most recently valued at $3 billion and won Fast Company’s World Changing Ideas Award in the health services category. Learn more at www.swordhealth.com.
* https://swordhealth.com/resources/whitepapers/Risk-Strategies-Consulting
CONTACT: April Conyers Sword Health april@swordhealth.com
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